Quote:
Originally Posted by UncleWede
Ah, insurance rates.
After 2 days in escrow, I got a cancellation for reason other: fire rates are just too high in this area.
You KNEW what the rates were before you made an offer  |
I can tell you a similar story from here that's funny to me because of the stupidity.
One of the people on our street owned a 1920's house, with taxes around $2.5K/year. They tore the house down, and put a pre-fab of the same dimensions on the lot. What they failed to realize in their goal of having a shiny new house is that our town taxes shiny new houses at 4-5 times the rate of older homes. Their property taxes instantly shot up to $11K/year, and they were foreclosed on within a year because their monthly tax payment exceeded their mortgage payment.....