Last month, my mortgage company informed me that my monthly payment was set to jump another $60. Since I have a fixed rate, the only factor that could cause an increase in my bill would be the escrowed property/school taxes. My wife and I currently have no children, so I'm not clear on why I have to pay a full school tax bill? I wouldn't mind paying half of my school taxes since the value of the my home increases with the quality of the schools. Since I have no children, I feel it's a bit excessive to pay money for services I'm not getting. Are you childless and paying school taxes? Let me know how you feel about it.
Real estate: February 2008 Archives
When the Fed cuts interest rates, everyone from stock brokers to mortgage holders can benefit from the falling price of borrowing money.
But looks like this round is helping rich investment bankers (The Dow has been lifeboated fairly well considering the damning news in recent weeks) while letting those who want to refinance their mortgages and keep their houses out in the cold.
If your home has falling value, or your credit score is unsettling, banks won't work with you, according to this story this morning.
Aren't those the people who need help the most? It's nice to see the government is looking out for No. 1 — the top 1 percent of wealth in this country.
Do you think that if investors can get a break on borrowing money to buy stocks, it entitles those about to lose their homes to borrow money as well?
