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Property Tax Funding Blog

Texas Property Tax Loans – 3 Reasons to Act Now

Posted by Matt Longhofer on Sun, Jun 13, 2010 @ 07:06 AM

property tax loans

With July 1st only a few weeks away, it's now more important than ever to take care of your delinquent property tax bill.   Delaying further will just end up costing you more to settle your tax bill. 

Why Secure a Property Tax Loan Now?

1. Your tax bill will increase substantially on July 1st.  Section 33.07 of the Texas Property Tax Code allows for the application of an additional penalty of up to 20% for delinquent real property taxes not paid prior to July 1st of the year in which they are due.

2. After July 1st, the attorney for the tax collector can file a suit against the delinquent property owner. Failure to respond to this suit may result in a judgment against the property owner for all past due property taxes along with court costs as a result of the tax suit and judgment - all adding increased expenses to the property owner.

3. Your mortgage company, without approval, can set up an escrow account and pay your taxes. Once they've paid your taxes they can demand immediate payment of the escrow shortage. Failure to pay the escrow shortage amount can result in acceleration of your note and foreclosure by the mortgage company.

Why a Property Tax Loan from Property Tax Funding?

Property Tax Funding is an accredited lender holding an A rating with the Better Business Bureau and a proud member of the Texas Property Tax Lienholders Association.  Our company is staffed with ethical professionals who will recommend the best solution for your property tax issue.  We will provide a straightforward analysis of situation and we will even tell you a property tax loan is not the best solution you.   

We offer property tax loans throughout all counties in Texas with concentrations in the following areas: Harris County, Dallas County, Tarrant County, Bexar County, Travis County, El Paso County, and Collin County.   

If you are interested in applying for a property tax loan, contact one of our loan officers or complete the online form for a free no obligation analysis from a licensed loan officer. 

Topics: property tax lending

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