Tag Archives: The hidden costs of homeownership

The hidden costs of homeownership

One of the biggest fears of home buyers is the unpredictability in home-related costs, whether it’s a necessary large repair or a bunch of smaller unexpected costs. Property tax increases can be one of the largest unexpected costs. Imagine this, you qualify for a 30-year-fixed mortgage, and along with that you set up an escrow account with the lender so you will not have to worry about the tax bill when it’s due to the county twice a year. One day you receive a letter from your bank informing you the mortgage payment will be going up due to an …

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