Are you familiar with property taxes? Well, it’s something that looms on the horizon every year. The fact is, even if we try to meet the tax deadline, there are circumstances that won’t allow us to achieve it. If your savings are wiped out it may feel like you have no breathing room to pay them. It is essential to know what options you have for paying the tax amounts due to each taxing jurisdiction. A Texas property tax loan is a hassle-free, one-step answer that solves the delinquency problem. Let’s dig deeper to find out what it is and how it works?
If someone can’t pay their homes’ property tax bill by January 31st, the taxing jurisdiction puts tax lien on the property. To clear that they can opt for a third-party lender to help. In 1933, the Texas government passed a rule. As per the rule, the property owner can transfer his/her unsettled debt to the third party to pay the taxing jurisdictions. They can execute the promissory note to finance the taxes. In return, the property owner consents to repay with an interest rate that doesn’t exceed the statutory maximum in monthly intervals.
Letting a property tax lender help can boost your cash flow.
The process starts by selecting a reputable property tax lender. The lender you choose should be licensed under the OCCC (Office of Consumer Credit Commissioner), such as Ovation Lending. We will work with you to find a payment plan that fits your need. We will then gather some basic information and start an application. Once your application is approved and the loan closes, we work with your local taxing jurisdictions to pay them directly and bring you current.
You begin making manageable monthly payments on your agreed upon start date. And with the pressure of unpaid property taxes gone, you can continue focusing on you!
Benefits of Partnering with Ovation
- No out of pocket expenses
- Ability to combine multiple tax loans
- Repayment terms up to 10 years
- Delayed first payment date
Contact Ovation Lending to start your application.