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Patrick O. Oswald
Patrick O. Oswald, Wealth Advisor
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Experience:  20 years experience on wall street with both major and boutique investment banking firms
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I have a real state question.I own a con making regular mortgage

Customer Question

I have a real state question.I own a con making regular mortgage payments.However , I. Pay taxes,but sleays late.Is it better for me to include taxes in my mortgage? Do I have any otger options? Someone suggested me to use harp program
What is it? I was going to refinance but financial adviser told me to improve my
Credit score first.What do you suggest?
Submitted: 7 months ago.
Category: Finance
Expert:  Lindie-mod replied 7 months ago.

Hello,

I'm Lindie, and I’m a moderator for this topic.

We have been working with the professionals to try to help you with your question. Sometimes it may take a bit of time to find the right fit.

I was checking to see if you had already found your answer or if you still needing assistance from one of the professionals.

Please let me know if you wish to continue waiting or if you would like for us to close your question.

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Lindie

Customer: replied 7 months ago.
Hello. I really need the answer for my finance question.Please find me the appropriate expert.
Expert:  Lindie-mod replied 7 months ago.

Hello,

Thank you, we will continue to look for a professional to assist you. Please let me know if I can be of any further assistance while you wait.

Best,

Lindie

Expert:  Rakhi Vasavada replied 7 months ago.
Dear Friend,

Hello and welcome. Thank you for providing an opportunity to assist you.

Yes, it would be certainly better to include taxes on your mortgage. One of the advantage would be that you would remain regular and would also not be burdened with paying one single amount of tax once every year. In my opinion, you should add it to your monthly payments and therefore spread it in the year.

So far as HARP program is concerned, it is a "Refinance Program". The Home Affordable Refinance Program is designed for people who have made their payments on time but are underwater on their mortgages. Being “underwater” means they owe more on their homes than the homes are worth. So basically it gives them the opportunity to refinance their home loans.

I’d advise looking into the HARP program if you’ve got a good credit history and you’re underwater on your current home. Lots of HARP program applications are being approved, and the deals are closing.

You can know more on this on the following link.

http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx



I am more than sure this would help. You may please leave a positive rating if this helped as this is the only way we are compensated for helping you. Alternatively, please feel absolutely free to revert back with a reply if you need further assistance.

Warm Regards,

Expert:  Patrick O. Oswald replied 7 months ago.
you can pay taxes with your mortgage payment if you arrange it that way. Some people like it as they don't have to come up with a lump sum. If you can't refi due to your credit score, you need to pay down debt. This will raise your score. he other issue may be that the condo is not worth what you paid for it since the financial crisis. This is a whole other issue...

keep mortgage current and pay property taxes on time as the penalties are stiff!!

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