Thursday, January 15, 2009
Catch 22
The recent housing crisis has sent mortgage interest rates to record lows. We decided to take advantage of the great rate and refinance our mortgage. Turns out that the housing crisis has also sent the values of homes plummeting to the ground. Our house appraised at $56800 less than even the what's listed on the county property valuation. After trying to work things out for about a month we decided that this must be a sign to not do it. So now we have to pay the appraiser for an appraisal that stinks. The good news is that we're told we can now take the appraisal to the county and they should adjust the market value on our house which will then (hopefully) lower our property taxes this year.
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1 comment:
It really stinks doesn't it? We are thinking about trying to rent out our house since there is no value in it but that worries me....a lot.
Maybe that house was just a way for Heavenly Father to tell me that the "perfect" house for us is out there, we just need to be patient.
I'm sorry it didn't work out for you. Congratulations on saving the tax money!
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