Why is my mortgage payment going up? The value of my...
...house dropped but the taxes went up. Why? Ok what I'm trying to figure out is why when the value of my home dropped $6,000 my taxes went up just about $100. I have only owned the house since the middle of August 2009. In the statement I received, it says something about an escrow shortage and projected/allowable low point. What does all this mean? What can i do about this? and is there a way to get my taxes back down to where they should be? Or lower for that matter? I bought the house for $90k when it had an assessed value of $120k and appraised value of $100k. Now it was assessed at $114k What are my options? And if you need more info of if I am missing details you need to help answer properly put that in your answer and I will update. Thanks for your help.I live in Racine, WI for those who were wondering. As far as timing they just sent me the notice within the last 30 days. Maybe less than that. It takes affect June 1st. If I do have a chance to try to fix it, how would I go about doing this? Please be as specific as possible since I am still fairly new to all this. Again thanks for all the help.
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