In many areas, such as Florida, California and Seattle, mortages obtained during the height of the sub-prime loan debacle are higher than what the home is currently worth in todays market.  So what can be done about it?  First of all, there is hope out there for people who are being over-taxed. 

If you are in any other state than California, than the advice I give may not be totally accurate and I would suggest that you contact your local tax board or county assessor's office on how to deal with this. 

In the Modesto California, area, we can appeal the old assessment to the county assessor's office if we feel that we are being over-taxed. By having our homes re-assessed/appraised, and showing comps from the neighborhood, one can show the tax man how off they are.  As a homeowner, I know that I do not want to be over-taxed for a property that I have, and neither should anyone else.

Remember, there is hope out there.