Talk to me about reducing mortgage payment/grieving taxes

It seems so overwhelming!!!


But I *think* we could be eligible for something, especially because DH is self-employed and has not been bringing as much $$$$ in lately.

Where should I begin?

Also has anyone ever done Obama's plan? (I heard most people end up not eligibile for one reason or another).

How do you go about getting some of your taxes reduced? Is there something besides "STAR"? Or is that the same thing?

If this has already been posted, can you link the thread? Thanks so much house smart people!

Re: Talk to me about reducing mortgage payment/grieving taxes

I greived my taxes in huntignton - i am pretty sure most of suffolk is due in may - there is only one time a year to apply - but worth it if your house has dropped - you could use a service or you could just get an appraisal done or if you just bought a house then use that info - the forms were easy to fill out

there are companies that do it but i thought the forms were easy to fill out - i missed the deadline to file in 09 by 1 week - so i know frustration - i had to wait till this year

also there is a place in centerreach called the commuunity development corporation of long island that may help you get your loan modified

Re: Talk to me about reducing mortgage payment/grieving taxes

There are a lot of different things right now. Obama's plan is for your mortgage only, not your taxes. You can either refi or do a modification but you must qualify for them. Our mortgage is through Chase and when I log in to my account it mentions both the refi and modification options. Again, we still have to qualify for them. If you don't have enough equity in your home you might now be able to refi, but since you mentioned your DH doesn't make as much monthly income right now, you could possibly qualify for the modification.

Depending where you live determines when your tax grievance is due. In Nassau for the 2011/2012 tax year we had to file the grievance between January 1, 2010 - March 31, 2010. Suffolk is different. We won't know if this has been accepted until next April. If this wasn't approved we have to file an appeal. It's a lot of work, but we're paying a ridiculous amount of money in our taxes.

In order to receive STAR you need to file before December 31, 2010. This will be for the 2011/2012 school year. We filed last year before Dec. 31, 2009 and were approved for it. However, we won't get the discount until January 2011.

Message edited 9/17/2010 10:14:50 AM.