Anyone else seeing their mortgage go up?

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[ARCHIVED THREAD] - Anyone else seeing their mortgage go up?

Posted: 3/31/2015 11:27:11 PM EDT

Is it a thing for certain houses or just this state trying to tax the fuck out of us? If my house pays $X.XX our mortgage goes up $700+, if we pay nothing by june 1 we have to cough up $1k a month. WTF is this bullshit?!?!?

The bastards do this every fucking year. Do they WANT people to go broke and homeless over this shit?

(Just imagine I'm screaming the words What the fuck in the background). We don't know if its property taxes or out broke ass homeowners insurance that going up or if its both. GAAAA, this is such bullshit. Did I mention this is bullshit?

Posted: 4/1/2015 2:25:55 AM EDT

[#1]

Your mortgage holder should give you a statement for escrow that will tell you if its property tax or insurance that is increasing. My Escrow payment went down $40 this year. Escrow changes yearly when a review is done and the reserve is determined to be to little or to much then the payment is adjusted to fall into line with the legal amount that can be held in reserve.

You would not happen to live in the Moore area would you?

But ya I know your pain....

Posted: 4/1/2015 7:17:18 AM EDT

[#2]

what is this mortgage you speak of?

Posted: 4/1/2015 7:53:21 AM EDT

[#3]

My house payment went up $37.00 this year. Not even close to the $700.00 you talk about. Taxes went up 12% this year and insurance went up a bit.
Do you have a homestead exemption? It helps a bunch when it comes to the property tax.

We really don't ever own a house. The damn government will take it from you if you don't pay the tax. Kind of like paying
protection to organized crime.

Posted: 4/1/2015 8:54:12 AM EDT

[#4]

My bet is your homeowners insurance went WAY up. They will do that if they don't want your business anymore. I had been with a company for over 10 years, no claims and my insurance went from $1,200 a year to over $4,000. We ask the agent what was up and he said the company was not wanting to insure people in rural areas anymore. Guess what, they don't insure me anymore. I can't see property taxes going up that much even if a huge school bond issue was passed. That's usually at most $100-$150 a year. Your mortgage company should have given you a breakdown of your payment if not I would be asking for one.

Posted: 4/1/2015 10:24:33 AM EDT

[#5]

Quote History

Quoted:
My house payment went up $37.00 this year. Not even close to the $700.00 you talk about. Taxes went up 12% this year and insurance went up a bit.
Do you have a homestead exemption? It helps a bunch when it comes to the property tax.

We really don't ever own a house. The damn government will take it from you if you don't pay the tax. Kind of like paying
protection to organized crime.

View Quote

Nope, Im not even 100% disabled to get the exemption.

We want to drop the insurance we have because were paying a retarded amount for just shy of no coverage. Unfortunately, not many companies will ensure a 100+ yo house for a reasonable price.

Posted: 4/1/2015 11:38:31 AM EDT

[#6]

Quote History

Quoted:

Nope, Im not even 100% disabled to get the exemption.

We want to drop the insurance we have because were paying a retarded amount for just shy of no coverage. Unfortunately, not many companies will ensure a 100+ yo house for a reasonable price.

View Quote View All Quotes

View All Quotes

Quote History

Quoted:

Quoted:
My house payment went up $37.00 this year. Not even close to the $700.00 you talk about. Taxes went up 12% this year and insurance went up a bit.
Do you have a homestead exemption? It helps a bunch when it comes to the property tax.

We really don't ever own a house. The damn government will take it from you if you don't pay the tax. Kind of like paying
protection to organized crime.

Nope, Im not even 100% disabled to get the exemption.

We want to drop the insurance we have because were paying a retarded amount for just shy of no coverage. Unfortunately, not many companies will ensure a 100+ yo house for a reasonable price.

You don't have to be disabled to get a homestead exemption. I have had one since 1998 when I built this place. Just file it at the court house.

Posted: 4/1/2015 11:39:04 AM EDT

[#7]

Quote History

Quoted:
My bet is your homeowners insurance went WAY up. They will do that if they don't want your business anymore. I had been with a company for over 10 years, no claims and my insurance went from $1,200 a year to over $4,000. We ask the agent what was up and he said the company was not wanting to insure people in rural areas anymore. Guess what, they don't insure me anymore. I can't see property taxes going up that much even if a huge school bond issue was passed. That's usually at most $100-$150 a year. Your mortgage company should have given you a breakdown of your payment if not I would be asking for one.

View Quote

What was the company that raised its rates that high?

Posted: 4/1/2015 2:12:16 PM EDT

[#8]

Mortgage? We don't need no stupid mortgage!
Sure is nice to live in a house that's paid for...

Posted: 4/1/2015 4:25:16 PM EDT

[#9]

I've tried to talk my sister into filing homestead exemption but she says it doesn't do anything, what exactly are the benefits of filing H.E.?

Posted: 4/1/2015 5:03:01 PM EDT

[#10]

Quote History

What was the company that raised its rates that high?

View Quote

Farmers, we about had a stroke when we got the renewal. That's been probably 8 years ago. Since then I've had State Farm, and now I'm with Safeco. State Farm started going way up a couple of years ago (not like Farmers though) so I switched to Safeco (through Moon-Baker Agency). I've been told it's best to shop around every few years just to make sure you have the best rate available. Seems like most companies give you a fairly low rate the first year then start jacking it up every year after that.

As for the OP, yeah file homestead it helps some. Nothing required that I know of, other than filing at the court house. Also shop around for insurance. If you can, find an independent agent that represents multiple companies that can sometimes get you the best rate, but also check around yourself. Get a copy of your current policy and take it to them and say this is what I have can you beat it!

Posted: 4/1/2015 5:10:04 PM EDT

[#11]

Oklahoma County Assessor

Questions & answers about HOMESTEAD EXEMPTION

Homestead Exemption is an exemption of $1,000 of the
assessed valuation.

This can be a savings of $87 to$134 depending on which area of the
county you are located

TO QUALIFY:
You must be the homeowner who resides in the
property on January 1. The deed must be executed on or before January 1 and filed with the
County Clerks Office on or before February 1. You must be a resident of Oklahoma.

TO APPLY:

You may apply for Homestead Exemption with the
Oklahoma County Assessors Office between 8:00 a.m. and 4:45
p.m. Monday through Friday. Our office is located at 320 Robert S. Kerr, Room 315,
Oklahoma City, Oklahoma, 73102.
Applications for homestead exemption are now available for
downloading.

RENEWAL:

If you have been granted a homestead exemption and
continue to occupy the homestead property you shall not be required to re-apply for
homestead exemption. However, if you change your deed or move you will need to re-file.

http://www.oklahomacounty.org/assessor/homestead.htm

Posted: 4/2/2015 9:51:01 AM EDT

[#12]

I have USAA insurance on both the autos and the house. They generally do a good job.

Posted: 4/2/2015 3:32:49 PM EDT

[#13]

ALL homeowners insurance premiums went up this year due to the tornados and hail storms that have pummeled OK over the last several years. Mine went up significantly too and left us looking at increased mortgage payments to the tune of about $80/month.

Read this: insurance rate increase

My agent told us that most underwriters do not want to offer homeowner's policies in OK but that the state told them tha if they didn't, they couldn't sell ANY policies here.

Posted: 4/2/2015 6:38:29 PM EDT

[#14]

I don't get it, whats the point of having insurance if they don't want to pay, don't want to be in an area of "high risk" but raise the cost each year but yet its a law that we have to be insured. I know, age old question since the first claim.

Oh, the Homestead Exemption is something we did apply for a get a while back... but did about as much good as a Democrat.

Posted: 4/2/2015 8:49:37 PM EDT

[#15]

Yeah Ours did to. I think it was a yearly 1/2 percent increase in the prim rate. Maybe it will go down next year.

Posted: 4/2/2015 10:55:08 PM EDT

[#16]

Don't get me started on the Mortgage crap. When our insurance went up last year I switched to a different carrier and I got a escrow fubar. Our insurance a year is about $2300 and taxes are about $1060, old insurance was $2600. Well when the escrow analysis was generated they failed to take into account the insurance change and showed a duplicate payment at a tune of over $5800. So they said we owed $3400 in February when insurance isn't due until November and taxes in Dec. Our total escrow outgoing will be around $3000 but they want $3400 now. WTF? Took several calls and numerous curse words but we got it fixed. Rant off.

Posted: 4/3/2015 7:40:46 PM EDT

[#17]

Don't have a mortgage, but I got a letter from the County Clerk that said my yearly taxes were being raised 40 bucks and change.

Posted: 4/6/2015 4:28:24 PM EDT

[#18]

Just keep thinking of the crazy low property taxes the state keeps bragging about. Oh, and the insanely low cost of living. Although both of those things are sort of like the easter bunny....as in they don't exist.

Posted: 4/9/2015 1:55:24 AM EDT

[#19]

Mine went up, since I bought my house a few years ago it has increased nearly $500.

Posted: 4/9/2015 11:58:57 PM EDT

[#20]

Went up 1.5%. Paid escrow difference up front instead of spreading it out over 12 months. Otherwise it would have been a 4.7% increase per month.

Posted: 4/10/2015 12:13:33 PM EDT

[#21]

Quote History

Quoted:
Went up 1.5%. Paid escrow difference up front instead of spreading it out over 12 months. Otherwise it would have been a 4.7% increase per month.

View Quote

Yes, but its also a 12 month interest free loan as escrow shortages don't accrue interest. Most people don't take that into account when deciding to pay it or make it in their payment.

Posted: 4/10/2015 6:52:51 PM EDT

[#22]

And remember... When you buy earthquake insurance..... They will NOT pay your claim if the earthquake was caused by man (i.e. fracking and drilling related activities). The insurance companies have already jumped on the Oklahoma earthquakes are caused by fracking bandwagon so that it gives them a legal way of denying claims in areas where drilling is blamed. Has nothing to do with your personal opinion about what is causing the quakes, that's irrelevant, it has only to do with insurance companies devising a way to get out of paying claims in Oklahoma. If you buy quake insurance make sure your insurer will cover your claim no matter what the cause. Don't let some sleazy company put you in the poorhouse. <----just a little advice, take it or leave it.

Posted: 4/10/2015 7:47:49 PM EDT

[#23]

Quote History

Quoted:
And remember... When you buy earthquake insurance..... They will NOT pay your claim if the earthquake was caused by man (i.e. fracking and drilling related activities). The insurance companies have already jumped on the Oklahoma earthquakes are caused by fracking bandwagon so that it gives them a legal way of denying claims in areas where drilling is blamed. Has nothing to do with your personal opinion about what is causing the quakes, that's irrelevant, it has only to do with insurance companies devising a way to get out of paying claims in Oklahoma. If you buy quake insurance make sure your insurer will cover your claim no matter what the cause. Don't let some sleazy company put you in the poorhouse. <----just a little advice, take it or leave it.

View Quote

Anyone know if USAA does this? Not that it matters my earthquake deductible is 40K.

[ARCHIVED THREAD] - Anyone else seeing their mortgage go up?

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