California Governor Schwarzenegger visited Stockton today with US
Treasury Secretary Henry Paulson for a town hall meeting to discuss the woes caused by increasing numbers of foreclosures.
"No other state is more affected by the subprime mortgage crisis than California," Schwarzenegger said. "We need to continue to find solutions to this critical problem because foreclosures don't just hurt homeowners, they have an effect on all Californians through the economy and our state budget."
Property taxes can represent the 2nd largest financial burden that a homeowner faces, especially if they purchased a home in the prime bubble years. While lower property taxes probably won't help you avoid foreclosure - a reassessment may provide you with some relief.
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