Active Users:394 Time:10/11/2024 08:14:39 PM
In Washington you can contest the assessed value used to determine property taxes. Vodalus Send a noteboard - 14/10/2010 07:27:02 AM
my house is underwater. It wasn't five years ago. I had about 50-55,000 in equity then. Since that time houses in my neighborhood are selling for more than one third less than they were then. I am paying 6.99% on my loan. Current rates are 4.25 to 4.5 but I can't refinance because I would need to borrow more than my house is worth. Ironically I'm also paying property taxes on an assessed value that is more than the current market value. I am trying very hard to struggle through this but if I end up having to walk away, I will only be upset that I lost my house. Not in the slightest bit upset that it might be perceived that I screwed over the bank.


In the early 2000s the government here went crazy on jacking up the assessed values as a way to get around a referendum which limited property taxes. The only catch was that there was a narrow window of time in which you could argue for something reasonable. I think it was two weeks after the mailings went out. I have no idea how it works in CT, but you might have some options.
南無阿弥陀仏!
Reply to message
Is walking away from a mortgage immoral? - 12/10/2010 04:45:43 PM 1367 Views
Just as a contract is a two way street - - 12/10/2010 05:12:09 PM 865 Views
do we have a moral obligation to society? - 12/10/2010 06:00:17 PM 860 Views
It's a good question - 14/10/2010 02:41:21 AM 774 Views
Sort of have to disagree... - 13/10/2010 02:52:07 AM 808 Views
That's not true actually - 14/10/2010 02:35:43 AM 758 Views
Of course it's immoral. - 12/10/2010 05:13:16 PM 839 Views
But does one sided morality work? - 12/10/2010 05:38:56 PM 954 Views
That's the only kind of morality there is! What the hell is wrong with you? - 12/10/2010 08:15:55 PM 781 Views
nothing wrong with me but I think you are off your meds again - 12/10/2010 09:34:33 PM 773 Views
Re: nothing wrong with me but I think you are off your meds again - 15/10/2010 02:50:49 PM 1276 Views
well I really can't argue with the wrong is wrong end of story belief system - 15/10/2010 05:40:22 PM 976 Views
A contract isn't a promise; it's a legal agreement. *NM* - 12/10/2010 06:25:24 PM 404 Views
Which is why contracts have to be pages and pages long and combed over by bloodsucking lawyers. - 12/10/2010 06:39:18 PM 813 Views
I would agree with you if contracts didn't provide for breaking them. - 12/10/2010 07:33:15 PM 672 Views
Hrm. - 12/10/2010 07:35:38 PM 879 Views
It's not immoral to break the marriage contract. - 12/10/2010 08:19:50 PM 938 Views
I don't see that as the flaw in my logic. - 12/10/2010 08:37:52 PM 836 Views
Re: I don't see that as the flaw in my logic. - 12/10/2010 09:00:00 PM 928 Views
also - 12/10/2010 09:37:38 PM 783 Views
That makes no sense whatsoever. - 13/10/2010 11:38:06 PM 904 Views
That must be why they have you sign something called an agreementory note *NM* - 12/10/2010 07:33:32 PM 404 Views
Exactly *NM* - 12/10/2010 07:58:25 PM 387 Views
So, you think bankruptcy laws are immoral? - 13/10/2010 12:18:43 AM 825 Views
I don't think it's immoral at all. The contract usually specifies penalties for breach. - 12/10/2010 05:28:34 PM 909 Views
I thought the answer might be something like that. *NM* - 12/10/2010 05:35:35 PM 371 Views
that is close to the way I see it - 12/10/2010 05:45:25 PM 769 Views
It's both legal and immoral. - 12/10/2010 06:37:49 PM 852 Views
You didn't mention the third party - 12/10/2010 08:26:56 PM 699 Views
in a way I did since I did mention society - 12/10/2010 08:54:07 PM 840 Views
Thus the edit - 12/10/2010 09:10:53 PM 869 Views
either way I think you made a good point *NM* - 12/10/2010 09:38:58 PM 370 Views
will those neighbors... - 14/10/2010 04:52:26 AM 971 Views
All depends where you get your morals from, really. - 12/10/2010 08:28:41 PM 829 Views
I guess what i was trying to ask, at least in part - 12/10/2010 09:48:24 PM 796 Views
What if you look at it from the other perspective? - 12/10/2010 09:00:20 PM 846 Views
do you think they would if they had a legal way to do it? - 12/10/2010 10:04:57 PM 822 Views
Good point. *NM* - 12/10/2010 11:10:26 PM 387 Views
Sure, you could do that. - 13/10/2010 01:54:55 AM 849 Views
Much like the concept of morality itself. - 12/10/2010 11:47:23 PM 766 Views
I find this line particularly interesting. - 13/10/2010 12:13:18 AM 784 Views
Dunno. - 13/10/2010 12:56:56 AM 892 Views
As a professional in financial services - no, it is not. - 13/10/2010 01:44:18 AM 795 Views
but almost nobody sees it that way - 13/10/2010 12:53:25 PM 800 Views
Is the deal that if you default, the bank gets the house and nothing else, though? - 13/10/2010 02:40:48 PM 792 Views
yes but the bank has a limited ability to collect - 13/10/2010 02:47:34 PM 709 Views
I think it's morally wrong to walk away from credit card debt. *NM* - 13/10/2010 09:43:11 PM 378 Views
I'm curious how you reconcile that - 13/10/2010 09:47:59 PM 822 Views
Collateral - 19/10/2010 07:21:14 PM 1314 Views
I agree, what do you think is different? - 13/10/2010 09:59:36 PM 818 Views
I lost sleep over it, but I did it anyway. - 13/10/2010 05:24:19 AM 884 Views
OK what if you take it a step further - 13/10/2010 03:44:30 PM 835 Views
Good question - 14/10/2010 05:13:41 AM 854 Views
I have some questions about this issue. - 13/10/2010 08:14:37 AM 811 Views
how do those questions affect the morality of the situation? - 13/10/2010 03:20:14 PM 768 Views
Obviously, the essential difference is can't pay versus won't pay. - 13/10/2010 02:16:07 PM 775 Views
are you socializing your debt when it is a private bank? - 13/10/2010 03:14:48 PM 826 Views
You are when said bank requires a bailout. And very many of them do. - 13/10/2010 03:22:59 PM 782 Views
it is the home fault that the banks have to be bailed out - 13/10/2010 03:49:37 PM 843 Views
I believe it immoral to do harm. - 13/10/2010 04:38:28 PM 859 Views
I really don't understand a system where this could be an advantage. - 13/10/2010 11:16:57 PM 802 Views
There's generally something like a 7 or 10 year limit on credit reporting here. - 13/10/2010 11:46:58 PM 818 Views
What's the use of suing someone who has no money? *NM* - 13/10/2010 11:48:47 PM 437 Views
You can garnish their wages. - 13/10/2010 11:49:36 PM 777 Views
With parsley? - 13/10/2010 11:51:37 PM 868 Views
No, "someone" most certainly did not, wicked young Miss! Hmph! *NM* - 13/10/2010 11:52:40 PM 429 Views
If they suddenly come into some, you're entitled to it. *NM* - 14/10/2010 12:07:34 AM 503 Views
Bit of a long shot. *NM* - 14/10/2010 12:09:12 AM 353 Views
Very. Best to cover your bases though. *NM* - 14/10/2010 10:04:25 PM 372 Views
Not if the doctrine of election applies. - 14/10/2010 10:14:07 PM 765 Views
Are we not talking about credit companies going after people who owe them money? - 14/10/2010 10:18:47 PM 813 Views
Yeah, I guess we are. - 14/10/2010 10:28:40 PM 854 Views
Re: - 14/10/2010 03:09:18 AM 800 Views
I am currently in that situation... - 14/10/2010 05:03:23 AM 895 Views
In Washington you can contest the assessed value used to determine property taxes. - 14/10/2010 07:27:02 AM 849 Views
Re: I am currently in that situation... - 14/10/2010 05:49:24 PM 1140 Views
it is easy for me and others to be glib when it is just a theory *NM* - 14/10/2010 08:19:16 PM 376 Views

Reply to Message