Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
if you don't pay rent you'll be out on the street in no time.
If you stop paying your mortgage, its very possible you can still live there for the next 6 years, free. Banks are verrrry sloooooow. Happens all the time.
I am curious what everybody pays in property taxes.
"owning home clear and free argument".
If you do not pay property taxes you still risk getting your home confiscated.
My dad owned a home outright but did not pay property tax for 2 yrs.
Guess what? Now he does not!
I guess you are still a renter, but instead of rent to a landlord, it is called property tax to the State and County. So he lost the house in a tax sale, how sad.
Quote:
Originally Posted by 399083453
$500,000 assessment in my area = $14,000 annual tax bill.
Wow!
Quote:
Originally Posted by MichiVegas
Almost all states have property tax exemptions/reductions for seniors. I would be really surprised if there weren't such a system in NJ (I know it exists in NY and CT).
California has prop 13, the political poison pill, mess with property taxes end your political career. Thank Michael Dell for fing it up.
Quote:
Originally Posted by Teckeeee
I don't plan to own in So Cal doesn't make sense. I can rent more of a home than I would like to buy. In Denver, it made more sense to own, not here.
Maybe the people that come from out of California is what is driving up prices, they see property taxes go from close to 3% to 1.25. They have an extra $10,000 a year to spend, driving prices up $200,000.
If you stop paying your mortgage, its very possible you can still live there for the next 6 years, free. Banks are verrrry sloooooow. Happens all the time.
I can't find a honest Realtor who would advocate buying a house that's 4 times your gross annual salary, especially in a bad economy with stagnant wages.
You must not be watching the current market.
I'm just shy of $100k and have a buying power of $300k with only 4% down and another 3%-ish in closing costs - which I'm paying 100% of as an enticement. The mortgage will be approximately $1500/month. That's less than my current rent and less than 30% of my gross.
Adding another $100k to that would not dramatically increase the mortgage - probably $2000/month - and again, if you're in the 100k range in the no-income-tax state, you're way easily able to afford that. Again, less than 30% of gross.
Some of you need to stop trying to use the same logic in all states, it's faulty. California is one of the states where 100k won't do much. Washington State? House prices are way lower here so long as you avoid Mercer Island.
No..... Technically it is not. The bank took 6 years before it asked the person to leave. Its all very legal.
When they broke the contract by not paying what they had agreed to, it became stealing.
There is no excuse in any form for living in a home (squatting) and failing to pay rent or the mortgage payment you agreed to, just because the owner didn't force you out fast enough. You are stealing.
When they broke the contract by not paying what they had agreed to, it became stealing.
There is no excuse in any form for living in a home (squatting) and failing to pay rent or the mortgage payment you agreed to, just because the owner didn't force you out fast enough. You are stealing.
No. It is not stealing. You have a contract with a lender and they have the right to demand enforcement of that contract however they see fit.
Any lender is going to incur costs by taking over the property and they try to avoid that for as long as they can - that's why they never just kick someone out after missing a few payments. From a financial perspective it makes more sense for them to let someone stay in a house for awhile.
100k can do a lot in so cal, but there is no sensationalism in saying what it can do, but more in what it can't do. You can even rent living across the street from the beach if you want. Like traffic, cost of living is grossly overstated in Los Angeles. Although there is talks of the Multimillion $ homes, in reality, a house can be $250,000 in South LA, If you want a view, you are going to have to pay for it, if you want to live near something that everyone else wants to live next to, you'll have to pay for it.
When they broke the contract by not paying what they had agreed to, it became stealing.
No, its called breaking a contract. Not stealing.
Quote:
Originally Posted by tamajane
There is no excuse in any form for living in a home (squatting) and failing to pay rent or the mortgage payment you agreed to, just because the owner didn't force you out fast enough. You are stealing.
You own the house, you have a deed. You cannot squat in a house you own. The bank has a mortgage and a lien, they do not own the home until foreclosure. Period.
You may not like it ethically, but its not stealing.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
