lol, it goes up even if you fix your fence.. if your grass is dead and you water it turn it green, tax goes up

😂😂😂This type of scenario is exactly what tanked the housing market way back in 2008. I remember people who worked at low income jobs, being able to buy homes. And when the reality came knocking, they were foreclosed on. They were never able to afford to buy a home, but the lenders convinced them that they could. Oh,boy...here we go again. 😂😂😂

Our Mortgage went from 1265 to 1465😢, we only make 130k a year, married and no children with no var payments. I don’t know what tod do😭………..😂

It's an ARM. 😮

Im worried about how deregulation will affect the airline industry and aircraft maintenance standards. We're already seeing a decrease in quality with all these recent mechanical and build problems. Air travel is about to become much more interesting.

I live there for 17 years so you right but down south they allergies in the air no matter what state you go to in the south

I want to bulid a barn/shop in north Texas....is the sqft of the barn the same property tax rate as my dwelling?

Hello Steph. Unfortunately due to the 2008 crash, PMI is on mortgages for the life of your loan for loans after 2013.

So Americans that BADLY need jobs can’t take the place of ALL the illegal immigrants? The mentality of……🙄😒

That math don’t make sense. She’s an actress.

What people do not understand just because there is no income tax does not mean the cost to live there is cheaper. Basically places that have more hidden taxes and cost tend to provide less help of you need it and in the long run more expensive then a place that taxes your income. People in MN are always whining about taxes. Yet when I moved from FL to MN I had to pay out of state taxes on the home I bought in MN. Well even though the 2 home had the same value and I was paying out of state taxes with my MN home it was half the cost as the tax on my home in FL. Now I pay about 25% of the tax then my home in MN. The differemce in insurance cost between the 2 places is huge. But I live in TX in the 80's and when I visit my Mom in the early 2000's it was getting so over built and the traffic was insane in the Plano area. Just 15 years before that area was all nice small farms. Now there 1000's of home covering every inch from Dallas to Denton. I use to run the Cowtown marathon and that was a country drive from Dallas. My guess now it is all homes. I cannot imagine living there now.

It’s funny that people try to hide their real mistake. They know they made a dumb mistake but want to be the victim instead. She’s old enough to know about variable rate mortgages, it ruined people in the 90s. She just took the chance and got caught.

She failed to read the fine print; ARM Loan is what made her payments go up. Tax Assessment does affect your monthly payments but not by this type of increase. Remember, new construction builders are carrying mortgages on those homes and want to unload as quickly as possible, they will offer you the moon and the starts, the Banks are a little forgiving for a moment, get you hooked, and then they sell the paper, Banks are in the paper business, not the brick and mortar. I've been saying this for years, people are seeing it now. sorry this happened, folks, do your due diligence before buying a house.

Even worse, for an ARM to jump that high she must have purchased the home when interest rates were at historical lows 2%-3%. Anything under 3.5% is free money, just take it, an ARM makes zero sense. At best the rate might drop half a basis point, but is unlikely to ever go to 1%, so very little upside, but when interest jumps to 7.5%, or worse, that’s going to blow up your life

Steph, I just found you today and I wanted to say kudos for being positive and not necessarily taking one side of the other but trying to express your opinion of the benefits and or issues of what you see coming. I really appreciate that you were non-argumentative, but informative. Good on ya man. God bless

Definitelty sounded like a balloon or adjustable rate mortgage which was part of the reason of the 2008 housing crash.

Did she really think her property taxes were $60,000/year on a $500k house?

Us that Va loan if yall veterans and have some of the Va loan available to use that pmi outta there 🎉

It's all Trumps fault 🤷‍♂️🤷‍♂️

If you're from California, keep your yuppie ass there.

Bro, it's time to get honest. You never, ever buy a home. However, you have bought a loan.

If I am correct..you have more exposure with a new build for market fluctuations..right?..I recall the people that bought in 2007-2008 ,with new builds, seem to have got hidden the hardest back then.I sold a house in Ohio that I had been in for 10 years and due to the fall of values in 2008 I was only able to get what I paid about 10 years before. Though it didnt matter because the market was down anyway...and in fact the higher the price of the house it seems that the more the values had been impacted.

The whole world is full of scammers beware of that

Pay additional $$ towards your principal make it a second payment. Print every payment also print out a amortization table. A friend paid his 30 year mortgage off in 6 years. He put tax refunds, bonuses and any other left over $$ towards the mortgage. Also who knows if you had waited the house would not have been available.

I thought our CA rates were bad, but they're nothing compared to this. This is just another reason why we haven't moved back home to central TX & our families that are scattered across the state. (PS our CA county property tax rate is 0.80%. Compare that to TX rates of 2+ to 3+ percentages. That was the 1st nail in the coffin as to why we couldn't afford to move back home. & I'm sure my ancestors buried in the family plot up E of Dallas are rolling over in their graves at what's happening!)

No property tax WOW!!

Texas infrastructure not good A lot is weather driven -1(Major street replacement is a constant fact of life where I live, public transportation is non existent) Texas no state income taxes +2 Texas property taxes 300% higher for me anyway (anecdotal) -1 Texas flat and dry a lot of lakes but limited time to utilize -1 Norther California 1 hour to the Ocean 90 minutes to the sierras and the snow, 2 hours to the Redwood Forrest either north or south year round outdoor recreation Northern Ca +2 Texas home prices Sold my home in No Ca for over 430k 8 years ago Comparable here in North Texas currently high to mid 300's +2 Family moved from Texas in the forties, racism is everywhere I avoid and ignore as I can and it's a matter of perspective until it gets really real I've seen in both places 0 It all a matter of perspective I preferred California because I love the outdoors but I could not afford to go back An Aside I was near the California Delta West of the Santa Cruz Mountain range that separated the West and East Bay temp difference is dramatic. Bought in 1996 added air conditioning in 2006 after a "Dramatic heat wave 7-10 days over 100 lol" Rarely used until I sold 2016. Also only experienced 1 or 2 hard freezes. My Roof was 30 years old before I replaced( it was shake) another reason why insurance costs out her are so high in Texas. 40 mile an hour winds were a once in a lifetime experience.. My first car was a 67 Mustang without AC I was never uncomfortable lol

Native Texan here. Grew up during Jim Crow days. Always lived in the hood. When we moved we just moved to a better hood. Everybody had guns, but it wasn't a thing like it is now. People didn't just walk around the streets carrying their military rifles.. Somethig funny, only in Texas. One year i came home and I stopped at a car dealership to get a part. There was this sign that said please remove your gun from your car. We are not responsible for your weapon if missing. You're right about the entertainment in California. In my area we have 2 NBA teams 1 WNBA team, 2 NLB teams, 2 NHL teams, 2 NFL teams and 2 pro soccer teams. Also there is USC and UCLA. We are catching up to Texas in the heat department. Last summer we hit 110 for the first time. My doctor lives in Malibu and he has no AC, but is thinking about putting it in. Our tax increases on real estate are capped by prop 13. My house is worth around $900K and I pay $3400.proper tax. The racism is not that bad here, but the cops make up for it. They have that DWB thing going on. But to be fair last year racial profiling was outlawed by LAPD. All police departments are hurting for recruits, but the available recruits are mainly non whites who have been mistreated by cops. So you have people eligible to become police but they would rather do something else. I always say the people leaving and moving to TeXas are people who can't afford to live here. They were lured by your governor's ads saying there is no state income tax and cheap real estate.. One thing that is troubling is the price for service. I paid a $6K plumbing bill this year and yesterday I paid $140.00 for an oil change. We have any kind of food you want here. We have very good public transportation. When ever I go downtown I ride to trolly line to the rail line and I'm downdown in 30 minutes and if I wanted to I could continue on to LAX. The entertainment and finance sectors are going down due to technology. You are a prime example. You are doing a TV show for a fraction of what it would have cost 10-20 years ago. It's like the music business. People are making recordings in their bedrooms. You can make films with Ai saving millions. You really don't need studios. You don't have to buy film and pay for processing. Their are tech jobs, but they don't pay as well as they used to. The finance business has been run by computers for years. If you are going to get into finance or tech you better be a genius.

A house starts with features and becomes a home with memories. Those memories are a value no real estate market can depreciate!

I got a 5/5 ARM in 2014 at 2.75% with 20% down. Paid down principle incase things went sideways. Rate adjusted to 4% in 2019 which was the max(could only increase 1.25% every 5 years). Secured a fixed 10 year loan in 2021 for 2.375%

Property tax increases is a tax on unrealized gains

Buying over budget is the issue. Not taxes.

Home Insurance increased, property taxes increased by always increasing the home value, car insurance increased even if your kids are in university and they don’t drive your car they say within certain radius you still have to pay. These three put together will cost you a lot.

dude there is prop tax. what are you talking about?

I come all cash to buy so no need to mortgage don’t like interest 🎉

Under 20% down...that arm can hurt

If you cant afford a house and buy it then you didnt do your homework and have no one to blame but yourself. If you are buying your dream home then who gives a fuk if the market craps. Only those greedy aholes buying just to make a profit get hurt from buying in over valued matkets, i call that karma.

You have a valid point about everything.

She had to have an ARM.

California has Proposition 19 which is a godsend to California homeowners.

If your mortgage tripled your house is way more then u could afford...if can't put 20 to 40% down payment u shouldn't be buying these days..house poor!!

I agree with you regarding the "Adjustable Rate Mortgage " and during my buying any of my new homes ,I always secured a conventional 30 year mortgage ,with a large down payment . I also drive a 1999 used Mercury car that I purchased 1n 2008 with 70,000 miles on it and I am still driving that car.

She bought a five bedroom house and was paying only $2,500/month? Higher property taxes are an issue when you buy an older house that's appreciated a lot in value as your property valuation will jump and then your property taxes will later on. Our property taxes have gone up about 350% since the late 1980s. Is that a big deal? Increases were slow and incremental.

I also have my taxes included in my house note in an impound account .

14 years ago ,after the hosing market went bust in 2008 due to number of factors including "adjustable rate mortgages , the mortgage banker at Wells Fargo Bank presented me with an adjustable rate mortgage that included all types of buy downs, points and mortgage insurance. This was what I was presented with on a home priced at $250,000.00 with an $80,000.00 down payment !!! This was my filth new home purchase and I knew that the white loan officer /mortgage banker did not have my best interest and was trying to give me a predatory loan . This was due to my being black and when I went to the new home developer who I was buying the home from,I was told that they heard negative remarks about this particular banker . I walked away from the house ,Wells Fargo Bank ,and the developer and in return ,I found a much better home ,location ,and financing !!! I was in a conversation with a real estate agent about my experience and this white woman told me ,that unfortunately "racial profiling "is still in the mortgage industry " . I have been in my home for 14 years and during those 14 years,I have had it refinanced to lower the interest rate from 4.25 to 3,75,and finally to 2.75 and I have never been late with my house payment during those 14 years. I try to stay clear of the three major banks that are well known as far as my home mortgage is concern along with staying clear of schemes reverse mortgages and home equity loans . In my state ,Washington State ,I took advantage of that state's senior tax relief program,where my property taxes are frozen and will not increase ,but I put money into a saving account every month .

"Building wealth is like climbing a mountain; investing is the steady ascent, retirement is the summit."

Adjustable rate mortgages, teachers pay raises, tax increases, research all information on a property before purchase.🤷🏼

woman: my mortgage went from 2.5k to 7.5k! me: look at u! u a bad bish, living like a rich person now!

5 bedroom house

Not a DR Horton new build !! 😂😂😂