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Is your plan to die before the equity runs out? A 30 year mortgage won't cover itself more than 15 years or so because you have to pay interest. Add to that t

Is your plan to die before the equity runs out? A 30 year mortgage won't cover itself more than 15 years or so because you have to pay interest. Add to that the tax you already can't afford and all you've done is trade your property for 10 years of renting it from the bank. Unless you have some external income or personal budget to cut so as to cover the difference then taxes can absolutely force you from a property you own.

Retric 8y ago
You don’t need all the money up front, only 0.6% or so. Inflation is likely also increasing your equity especially on these time frames. Look into Reverse mortgage to check the math. But, again this is not the full property tax rate just the percentage you can’t afford based on an increase in value. So, sell and make a lot of money today, or stay for another 30 ish years really seems to cover just about everyone.