Chances are someone you know is having difficulty paying their mortgage, and maybe even facing the possibility of foreclosure. The truth is they are not alone.
Today, 1 out of every 10 homeowners in the Unites States is behind on mortgage payments. These are tough and frustrating times. It's important to identify options. Foreclosure can be avoided, credit can be saved, and financial futures can be salvaged.
Unfortunately, challenging times brings out individuals and organizations that are looking to take advantage of those is crisis situations. Now, more than ever it is important to have an advocate you can trust. If you do know someone in financial distress, it is important that they get accurate information and honest, caring support.
We've created a website to help people get the information and support they need. If you now of someone having trouble paying their mortgage, or concerned that they may have trouble in the near future, please suggest they visit the following site: SanDiegoForeclosureRelief.com.
We created the site to help homeowners understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners. In addition to the information on the website visitors can request a FREE Report that further explains their options and help them decide on the propert course of action.
The idea of losing a home can be overwhelming, and it is vital homeowners to have all the facts necessary to make an informed decision.
Friday, December 11, 2009
Saturday, December 5, 2009
You may be able to reduce your property taxes
Did you know that you might be able to reduce your property taxes? Property taxes are due in a couple of days (they are actually “due” November 1st, but they are not delinquent until after December 10th). If you have an impound account you have been paying toward your taxes each month. If you don’t, you’ll have to send the County Assessor a check. In California your taxes are based on the value of your home when you purchased it, or after you have made any significant improvements. Over the last few years the value of real estate has declined, which means your home may actually be worth less now than when your home’s value was last assessed for property taxes. In that case you can petition to lower your property taxes. While it is your civic duty to pay taxes, it is also your right not to pay more than your fair share.
Read your tax bill
A real estate assessment is conducted by the local government to assign a value to your home for taxation purposes. An assessment isn’t the same as a private appraisal, and the assessed value of your home isn’t necessarily how much you could sell it for today. The assessed value of your home is printed on your tax bill. In California, your property tax will typically be one percent of the home’s assessed value plus any local assessments for things like school bonds, and mosquito abatement.If you think your home’s assessment is higher than it should be you can challenge the assessment. The procedure for appealing in your area is typically listed on the back of your property tax bill.
Bolster your case
To be successful in petitioning for a reduction you will have to have good information to prove your case. To determine your home’s value you need three to five good comps (properties similar to yours in your neighbourhood). Ask a good real estate agent who you trust to provide those comps for you. Most will provide it for you free of charge.Once you identify comps, check the assessments on those properties. Most local governments maintain public databases, but again you could seek help from your real estate agent. If the market value or the assessed value of the comps is lower than your assessed value you can argue yours is too high.
Please note this article is intended to provide general information about property taxes. It is not intended to be tax or legal advice you should always consult a tax professional or attorney for such advice.
Read your tax bill
A real estate assessment is conducted by the local government to assign a value to your home for taxation purposes. An assessment isn’t the same as a private appraisal, and the assessed value of your home isn’t necessarily how much you could sell it for today. The assessed value of your home is printed on your tax bill. In California, your property tax will typically be one percent of the home’s assessed value plus any local assessments for things like school bonds, and mosquito abatement.If you think your home’s assessment is higher than it should be you can challenge the assessment. The procedure for appealing in your area is typically listed on the back of your property tax bill.
Bolster your case
To be successful in petitioning for a reduction you will have to have good information to prove your case. To determine your home’s value you need three to five good comps (properties similar to yours in your neighbourhood). Ask a good real estate agent who you trust to provide those comps for you. Most will provide it for you free of charge.Once you identify comps, check the assessments on those properties. Most local governments maintain public databases, but again you could seek help from your real estate agent. If the market value or the assessed value of the comps is lower than your assessed value you can argue yours is too high.
Please note this article is intended to provide general information about property taxes. It is not intended to be tax or legal advice you should always consult a tax professional or attorney for such advice.
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