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Property Tax Funding Blog

8 Key Questions Answered About Property Tax Loans

Posted by Tara Christiansen on Wed, Nov 06, 2013 @ 07:11 AM


property tax loans Property taxes can pile up quickly if not paid on time.  The penalties and interest fees charged by the tax assessor can increase your tax bill by up to 48% in the 1st year alone if left unpaid.  If you are approaching your property tax payment deadline, it might be time to consider a property tax loan.  Below is a list of important questions and answers you should know when determining if a tax loan is right for you. 


Question:  I just recently learned about property tax lending.  Is this something new?

Answer:  No, the laws that allow for tax lien transfers have been in existence since 1933.  In other states, investors purchase tax liens directly from the county and then inform the property owner of the transfer. In Texas the property owners get to choose the company with which they will enter into a property tax repayment agreement.


Question:  Does a Property Tax Loan create a new lien on the property?

Answer:  No, a new lien is not created.  Each taxing unit holds a tax lien on each item of taxable property.  A tax lien automatically attaches to property on January 1st each year to secure payment of all taxes.   When we pay your taxes, this lien is simply transferred from the county to Property Tax Funding. 


Question:  Is it difficult to qualify for a property tax loan?

Answer:  Qualifying for a Property Tax Funding tax loan is simple and easy and can normally be done over the phone in just a few short minutes.  Once the loan is approved it can be closed in a matter of days. 


Question:  I have some past credit issues, including a prior bankruptcy.  Will that prevent me from getting a property tax loan?

Answer:  Past credit problems are not an issue in obtaining a property tax loan.   Even if you have some credit blemishes, charge offs, late payments, or even prior bankruptcies, we can get your tax loan approved. 


Question: I have a mortgage on my property; can I still qualify for a property tax loan?

Answer:  Yes, many of our borrowers have mortgages on their property.  Having a 1st and even a 2nd mortgage on your property will not prevent you from securing a property tax loan.


Question:  What up-front costs will I need to pay to get the loan? 

Answer:  None.  Our tax loans are designed to have no upfront expense to our borrowers.  The costs we incur to originate the loan, such as recording fees and title search expenses, can be rolled into the loan so you pay nothing at closing. 


Question:  Could I lose my property if I don’t pay my taxes?

Answer:  The holder of the tax lien has the right to foreclose for non-payment, whether that is the tax assessor or the property tax lender.  However, Property Tax Funding will provide you with significantly more time and flexibility to avoid foreclosure.  We offer repayment terms up to ten years to provide you with a manageable monthly payment.  Property Tax Funding will also work with you to find a solution in the event that you fall behind on your monthly payments.  Our goal is to keep you in your home, and since 2008 our company has helped thousands of homeowners without a single foreclosure. 


Question:  Why should I choose Property Tax Funding?

Answer:  Our only business is to provide low cost tax financing solutions to Texas property owners.  We pride ourselves in providing honest, low-pressure advice to our clients.  We hold an “A” rating with the Better Business Bureau and our loan officers are all licensed by the National Mortgage Licensing System (NMLS).  Our company never sells your loan or information and you can always expect to speak to a live person when you call our office.  To learn more about property tax loans contact Property Tax Funding at 877-776-7319. 


To learn more about our Quick & Easy property tax loans, apply online at www.propertytaxfunding.com or by calling 877-776-7391.

Topics: qualifying for a property tax loan, Property Tax Loan, property tax lending, property tax loans, Property Tax Funding, upfront costs for a property tax loan

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