Posts Tagged ‘avoid fees’

See how easily you can get financial relief

Published by Research Editor on June 17th, 2013 - in Loans

73% of Americans say that money is the top factor that affects their stress level. The stress and pain that comes with financial burdens can be overwhelming and debilitating.

 

Taking control over your financial situation will give you relief and help you move forward. One of the easiest ways to get financial relief is through a property tax loan, which lets you:

  • Stay in your house
  • Pay off the loan on your terms, not the government’s terms
  • Stop worrying about huge penalties for late property tax payments
  • Avoid serious lawsuits
  • Prevent foreclosure

Options for Delinquency

Published by Research Editor on June 3rd, 2013 - in Tax Penalties, Taxes

A new law requires property tax lenders to include this line in their ads:

“YOUR TAX OFFICE MAY OFFER DELINQUENT TAX INSTALLMENT PLANS THAT MAY BE LESS COSTLY TO YOU. YOU CAN REQUEST INFORMATION ABOUT THE AVAILABILITY OF THESE PLANS FROM THE TAX OFFICE.”

While the all-caps and bold font may seem a little excessive, it is good to remember that property tax loans are only one option among many for dealing with delinquent property taxes:

Property tax loan

Advantages: your taxes are paid, which means you avoid delinquency status, penalties, lawsuit, and foreclosure. Disadvantage: a property tax loan is a superior loan, meaning the lender can foreclose on your house if you don’t pay back your loan.

Delinquent tax installment plans

Split your payments into four smaller payments. However, this plan is not always available in every county to every citizen.

Split payments

Pay your taxes in two smaller payments instead of one giant payment. Disadvantage: the first half is paid a month early: November 30 Instead of January 1.

Tax deferral

You don’t have to pay your property taxes right now. However, this is limited to senior citizens. Your taxes accrue 8% interest each year–and you do have to pay the taxes eventually.

Borrow money from family or your savings

This could be a great option–or a horrendous option–depending on your situation. Be wise.

Refinance your mortgage to include the taxes

Establish an escrow account

Ignore it

Worst idea ever. You’ll suffer penalties, lawsuit, and foreclosure. Don’t just ignore your delinquent taxes.

 

Whatever option you choose, be wise and make an informed decision.

How a tax lien transfer works

Published by Research Editor on March 22nd, 2013 - in Loans, Taxes, The Basics

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Every year, a tax lien is placed on your property by the government. When you get a property tax loan, you transfer your tax lien to your lending company. Here’s how it works:

PMTP-How-a-TLT-Works

 

This graphic comes to you courtesy of Protect My Texas Property, an alliance working hard so you can keep your right to get a property tax loan if you choose.

Property Tax Fees and Penalties


 

This video explains in detail the consequences of not paying property taxes for Texans.

For a property tax loan, visit Texas Property Tax Loans

© 2013 FYP, LLC.