Comments on: How To Deal With Property Taxes; To Wrap, Or Not To Wrap (In Your Mortgage). http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/ Teach Your Money To Think! Fri, 10 Feb 2012 18:37:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: USDBot http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-3344 USDBot Sun, 24 Jan 2010 03:24:51 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-3344 I think it should be wrapped in your mortgage. Simplifies things. I think it should be wrapped in your mortgage. Simplifies things.

]]> By: hank http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1202 hank Fri, 08 Aug 2008 19:45:58 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1202 @Howard - Amazing, and ugh, sorry to hear. I guess it's really ridiculous how much money the government can squeeze us for when it comes to our housing... Thanks for stopping by and for the info! @Howard – Amazing, and ugh, sorry to hear. I guess it’s really ridiculous how much money the government can squeeze us for when it comes to our housing…
Thanks for stopping by and for the info!

]]> By: Property Editor http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1203 Property Editor Fri, 08 Aug 2008 19:06:42 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1203 If you think your local property taxes are bad in USA - have a look at the UK. A 3 - bed house (small by US standards) would be paying £1500 per annum (about $2900). On purchasing a house there is "stamp duty" tax - up to 5% on more expsnive houses. Howard aka PropertyHouse.org <em>Property Editor's last blog post..<a href='http://www.propertyhouse.org/british-tourism-to-lanzarote-increases-156.html' rel="nofollow">British Tourism To Lanzarote Increases 15.6%</a></em> If you think your local property taxes are bad in USA – have a look at the UK. A 3 – bed house (small by US standards) would be paying £1500 per annum (about $2900). On purchasing a house there is “stamp duty” tax – up to 5% on more expsnive houses.

Howard aka PropertyHouse.org

Property Editor’s last blog post..British Tourism To Lanzarote Increases 15.6%

]]> By: Curious Cat Investing Blog http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1198 Curious Cat Investing Blog Sun, 25 May 2008 15:49:19 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1198 You are right. On my second house I did elect to pay my taxes myself. There is no reason to provide my money interest free to the mortgage company. Also, that 3.3% is going to be a lot higher in the next couple of years I bet. But we will see if I am right about that. High inflation and low interest rates don't make sense. <em>Curious Cat Investing Blog's last blog post..<a href='http://investing.curiouscatblog.net/2008/05/22/inflation-is-a-real-threat/' rel="nofollow">Inflation is a Real Threat</a></em> You are right. On my second house I did elect to pay my taxes myself. There is no reason to provide my money interest free to the mortgage company.

Also, that 3.3% is going to be a lot higher in the next couple of years I bet. But we will see if I am right about that. High inflation and low interest rates don’t make sense.

Curious Cat Investing Blog’s last blog post..Inflation is a Real Threat

]]> By: Melissa http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1199 Melissa Thu, 01 May 2008 05:23:25 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1199 I can sympathize with Town Hall issues. Ours is open only part-time M-F 8:30-4:30 and each office in the town hall closes for 1-2 hours a day AND 2 of the offices are only open 10-12 2 days a week. Talk about bueracracy. We do roll it all in but only because we don't want to deal with the Town Hall unless absolutely necessary and I like to pay bills now instead of worrying about them. Good for you though that you have the ability to do that. <em>Melissa's last blog post..<a href='http://feeds.feedburner.com/~r/SavingmoneyBug/~3/281090911/' rel="nofollow">The Bug Says Save!</a></em> I can sympathize with Town Hall issues. Ours is open only part-time M-F 8:30-4:30 and each office in the town hall closes for 1-2 hours a day AND 2 of the offices are only open 10-12 2 days a week. Talk about bueracracy. We do roll it all in but only because we don’t want to deal with the Town Hall unless absolutely necessary and I like to pay bills now instead of worrying about them. Good for you though that you have the ability to do that.

Melissa’s last blog post..The Bug Says Save!

]]> By: PT http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1201 PT Wed, 23 Apr 2008 19:37:52 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1201 Hank, Great article. I've been doing it myself since I bought my first home last year. We have it going automatically into an ING sub account. The lender did charge me $300 at close not to escrow, so I won't make this back for a couple of years. I found later that I could have asked to do my own escrow after close and avoided the fee. Bummer. <em>PT's last blog post..<a href='http://ptmoney.com/2008/04/01/current-checking-and-savings-account-rates-and-more-ing-direct-sign-up-bonuses/'>Current Checking and Savings Account Rates and More ING DIRECT Sign-Up Bonuses</a></em> Hank,

Great article. I’ve been doing it myself since I bought my first home last year. We have it going automatically into an ING sub account. The lender did charge me $300 at close not to escrow, so I won’t make this back for a couple of years. I found later that I could have asked to do my own escrow after close and avoided the fee. Bummer.

PT’s last blog post..Current Checking and Savings Account Rates and More ING DIRECT Sign-Up Bonuses

]]> By: Aaron Stroud http://www.myinvestingblog.com/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1200 Aaron Stroud Wed, 23 Apr 2008 16:08:22 +0000 http://myinvestingblog.com/2008/04/23/how-to-deal-with-property-taxes-to-wrap-or-not-to-wrap-in-your-mortgage/#comment-1200 Hank, many mortgage companies charge an extra fee if you want to handle your property taxes yourself. I think this fee probably would negate any benefit of saving property taxes yourself. However, it is very important for everyone to keep track of their property taxes. Mortgages are one of the reasons our state has been able to raise property taxes to criminal levels. When the tax is wrapped into the mortgage payment-mentalty people just think they have a large mortgage payment. They don't differentiate between the two. Our county takes about half as much from us as King county extracts from you. If they tried to take $500 a month from me for the privledge of living in my own house, I'd seriously consider leaving the area! <em>Aaron Stroud's last blog post..<a href='http://www.onfinancialsuccess.com/articles/the-paragraph-edition-festival-of-frugality-122/'>The Paragraph Edition | Festival of Frugality 122</a></em> Hank, many mortgage companies charge an extra fee if you want to handle your property taxes yourself. I think this fee probably would negate any benefit of saving property taxes yourself.

However, it is very important for everyone to keep track of their property taxes. Mortgages are one of the reasons our state has been able to raise property taxes to criminal levels. When the tax is wrapped into the mortgage payment-mentalty people just think they have a large mortgage payment. They don’t differentiate between the two.

Our county takes about half as much from us as King county extracts from you. If they tried to take $500 a month from me for the privledge of living in my own house, I’d seriously consider leaving the area!

Aaron Stroud’s last blog post..The Paragraph Edition | Festival of Frugality 122

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