Category Archives: property tax loans


questionperson1. Texas Property Tax Loans are available for any taxable real estate, undeveloped or not, on the condition the property is reasonably maintained. The loans cannot be made for and personal property, such as a car or household items, but any residential, commercial or investment property is eligible.
2. Maintaining taxes on several properties can be simplified by combining them into one loan.
3. Even if your property loan is from past years, Texas Property Tax Loans can cover the delinquent tax, penalties, interest charges, and any fees that could have been applied from collection attempts on past due taxes
4. Initially, loans are only available for delinquent taxes. Any time thereafter, Texas Property Tax Loans can pay your taxes to avoid delinquency.
5. Even if you have an existing loan with another property tax lender, you could be approved for a Texas Property Tax Loan.
6. Texas Property Tax Loans are only available for property taxes in Texas.
7. Your tax loan payment will include the principal (Initial amount borrowed), and the interest to the lender.
8. Even with past bankruptcies or credit problems, you can be approved for a Texas Property Tax Loan.
9. If you show sufficient income for repayment, your Texas Property Tax Loan can be completed within three business days.
10. You will need to provide your social security and driver’s license numbers, in addition to any mortgage, insurance and bank information for loan applications. These are necessary for IRS requirements as well as federal and state statutes. We do not conduct credit reports, and confirm title prior to loan approval.

Source: Texas Tax Loans


Property Tax Loans: Your community’s special interest

money_homeNo one ever expects to be burdened with sudden debt. In Texas, third-party companies are currently able to offer property tax loans, or tax lien transfers, to Texans in times of financial distress. The loan companies will pay off back taxes for qualified applicants, and prevent future delinquency by paying property tax before it reaches delinquency. Approximately 70 locally grown companies currently offer these affordable alternatives to about 15,000 Texans every year.

These property tax loans aren’t just helpful to property owners, but benefit their local communities as well. In addition to the hundreds of jobs the businesses sustain, the collected taxes ensure local governments get the necessary funds for important services like schools and public safety. Over the past three years, tax property loans are responsible for the collection of $500 million in tax revenue. By paying back taxes, these companies allow thousands to keep their homes, and continue to contribute to their local economies, yet somehow, are under threat of extinction.

Several banks and collection firms are currently lobbying to change the lien priority on property tax loans. With the lien priority being the biggest incentive for loan companies, this change would effectively shut down the industry altogether. As businesses like these have provided their services for 80 years, many believe that this change could seriously affect the Texas housing market. Local business leaders want to see the decision go to the people, the property owners who would be directly affected by the legislation.

Source: Chron

IRAs More Popular Than 401(k) Plans

In 2011, the Federal Reserve reported that the combined value for Individual Retirement Accounts (IRAs) and employer-sponsored 401(k) plans was over 8.75 trillion dollars. Of that sum, 55% of the funds were in IRAs. This is surprising since the maximum annual contributions to a 401(k) are almost three times greater than to an IRA. Why would there be more money in the combined value of the IRAs?200247143-001

A primary reason for the above noted disparity is that less than 50% of working Americans have access to a 401(k). Not all companies offer such a plan. IRAs, on the other hand, are available to all workers. This ubiquity, partnered with the tax breaks of the IRA, attracts investors. Another reason for the growth of IRAs is marketing. More and more people know about IRAs. IRAs often offer more investment choices and lower operating costs than the 401(k) plan. Therefore, when an employee changes job, he/she may choose to remove (rollover) the 401(k) funds into an IRA. Additionally, as the IRA accounts multiple, investors appreciate the simplification of having their accounts managed by a single financial institution.

It is possible to use both the 401(k) and the IRA. In a 401(k) plan, some companies will offer a matching contribution. For example, you may be eligible to contribute up to 5% of your salary to the plan, but the employer will only match the first 2%. Some investors choose to only contribute the 2% and receive the matching 2%. Any remaining available money goes into an IRA. The investor gets the advantage of both accounts, though some financial advisors suggest than any additional funds should apply first to high-interest debt before adding to an IRA

It is important to understand the strengths and drawbacks of both IRAs and 401(k) plans. Informed investment decisions are the best. Each approach offers participants opportunities to save for retirement and your personal financial situation will dictate how you invest your money.

Source: U.S. News and World Report

Hurdles With 401(k) Accounts

401(k)Let us say that you have worked at your current job for a number of years and you were fortunate to be with a firm that offered you a 401(k) plan. Now, however, a new opportunity arose and you are leaving your current job. What do with the funds you accrued in your 401(k) plan? This scenario is common, as employees stay in their jobs for shorter periods and are more comfortable moving to new companies.

When you change jobs, you have the option of cashing out your 401(k) fund balance, rolling it into an Individual Retirement Account (IRA), rolling it into your new company’s 401(k) plan (provided they have one), or leaving the balance in the current plan. It is not advised to cash your funds out since you will be taxed on the amount as income and, if you are under age 55, you will be penalized as well. That leaves three other options. Despite the convenience of leaving your funds in the current plans, many people choose a different route. Why is this?

Surprisingly, many plan administrators shy away from keeping non-current employees in their plans. In fact, a recent U.S. Government Accounting Office survey indicated a majority of plans surveyed were ambivalent about or averse to keeping past employees in their plan. In addition to such aversion, there is often complex paperwork and/or waiting periods required to reclassify your account status. This complex process dissuades some past employees from continuing with their 401(k) plan and, therefore, they choose a different path for their retirement account.

Rolling the funds into a current employer’s plan is contingent upon there being a plan in place. If one exists, there can still be complex hurdles involving paperwork and unusual timing issues. This complexity often dissuades people from taking this step.

A more common path for 401(k) funds is to roll them into an IRA. IRAs have been aggressively marketed in the past decades and many people include them in their retirement planning. Working with both your current 401(k) plan and the institution offering your IRA, you can initiate and complete the process in as short as a few hours. This simplicity is inviting and, additionally, you can begin to centralize your fund holdings with one company. This simplifies your future planning and paperwork issues. It’s advisable to let the two institutions handle the actual funds, thereby allowing you to avoid any potential taxation issues.

What to do with an existing 401(k) plan once you leave your job is an important decision. While simplifying the process and your plan is desirable, you also need to evaluate your financial goals. The ultimate decision on what to do with your funds will reflect where you currently are and where you want to be in regards to your retirement funding. Keep your eye on the prize, do your research, and the best choice becomes evident.

Source: U.S. News and World Report

Property Tax Loans In Texas

Many parts of Texas have been fortunate to not be hit as hard by the down economy compared to the rest of the country. That said, Texas residents haven’t been exempt from the economic downturn. Many individuals in the Texas area have had difficulty paying their property tax bills due to a lagging economic climate. Property tax loans can cause distress and confusion when people first encounter them. Switching from one type of debt to another to cover their taxes on real estate might seem like an atypical approach, however property tax loans can be a great option for many individuals.

Property Tax Loan CoupleIf you find yourself in between a rock and a hard place with your property taxes, or even if you are to the point where your house might be foreclosed on, you should really consider a property tax loan. In Texas, you can get a property tax loan for a variety of property types, from land properties to residential or commercial. Property tax loans function as a lump sum payment to the original loaner, which then allow you to pay off the balance month to month.

In Texas, you can get a property tax loan quickly and easily. Most people will qualify for one as the barrier to entry is quite low, and people with poor credit can still readily attain them. Additionally, they’re quite a bit cheaper than the penalties you could run into with a tax assessor, and they guard you against running into further penalties. The best thing about them is that they pay off all of your initial loan, interest, and any penalties you have in one swoop.

For more information on property tax loans in Texas, please visit Hunter Kelsey.

Pay Your Property Taxes Before Jan. 1

As all of you know, it’s property tax time once again.  If you have already paid your taxes, you need not read any further.  If you have not paid them, know that paying them before the end of the year means you can write them off on this year’s tax return.

A property tax loan can take care of this immediately without hurting your wallet.  A loan ensures that your taxes are taken care of, you don’t suffer from increases in interest, charges, and penalties, and you start the new year off right. Find out how easy it is today!