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Property Tax Funding Blog

When to Consider a Property Tax Loan

Posted by Joe Thompson on Tue, May 20, 2014 @ 05:05 AM

property taxes loan considerFalling behind on your annual property taxes can be incredibly stressful and expensive, and the problem won't simply go away on its own.  A property taxes loan can save you money and headaches, but how do you know if you really need to take this step? If you can relate to any of the following scenarios, a property taxes loan could be the solution you've been searching for:

  • The dollar amount in interest, fees and penalties you owe the tax assessor is becoming unmanageable. Penalties and interest charges seem to start off small, but over the course of one year, they'll add 48 percent to your tax debt. For example, if your annual property tax bill is $8,000 and it remains delinquent for just 12 months, you'll be in debt to the tax assessor for an additional $3,840. A property taxes loan can save more of your hard-earned money if you apply sooner rather than later.
  • Your tax assessor's attorneys are threatening foreclosure. You may have ignored the late payment notices from your tax assessor for several months because you couldn't pay the bill, but it's July now, and you're getting letters from their attorneys that they're about to file a lawsuit against you. Jeopardizing your property ownership is a risk that's not worth taking. When you take out a property taxes loan, the full amount owed to the tax assessor is paid off, which stops their attorneys' foreclosure action in its tracks.
  • You can't afford the payment plan from your tax assessor. Most Texas taxing authorities offer a payment plan option, but they aren't always a viable alternative if you're already struggling to pay your bills. You may not have the chunk of cash required to make a 25 or 50 percent down payment, or the monthly income to get the remainder paid off within a year. With a property taxes loan, the closing costs and fees are added to the balance, and not payable up-front. The amount you owe the tax assessor along with the loan fees can be spread out over a term of up to 10 years, so your monthly payments are affordable.

If you've decided that now is the right time to relieve your past-due tax headaches with a property taxes loan, complete our hassle-free online application, or call us at 877-776-7391 and speak with one of the experienced loan officers at Property Tax Funding.

Topics: Texas property tax loan, property tax loan Texas, property tax loan in Texas, property taxes loan, consider a property tax loan, considering a property tax loan

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