Comment on ‘My Property Tax Went From $15K to a Life-Altering $91K a Year’
DontTreadOnBigfoot@lemmy.world 1 week agoMaybe, maybe not.
Renovation loans exist, and are often secured against the property (backed by the increased value).
So there’s a real possibility that they only increased their debt without having the liquid capital
darkdemize@sh.itjust.works 1 week ago
Sucks to suck if that’s the case. If they truly couldn’t afford this, they should have been more diligent about researching the potential ramifications of making these renovations. That goes even more so for someone with experience in the field of real property.