End Property Tax Nightmares with Property Tax Lenders

The consequences for not paying one’s property taxes can be punishing, but they will also continue growing if the taxes remain unpaid. Dallas property tax lenders are just the people to consult in this situation. Their entire business was set up to help people bring their property taxes current so they can stop incurring fees and penalties.

Why Obtain a Loan for Payment of Property Taxes?

Obtaining a loan for the purpose of paying property taxes may be a very good way for people to handle this problem. If they do not find a solution for it, they may find that they will receive penalties every year that equal 44 percent of the amount they currently owe. In the near future, they may even find that they will be the subject of a lawsuit that their taxing authorities file against them for collection of the amount owed.

Rather than risk further penalties or even a lawsuit, property owners can choose to apply for a loan with Reliance Tax Loans. Sometimes, people refrain from applying for a loan to help them out of a difficult financial situation, but the loans they will receive with Reliance Tax Loans will not add to their debt. They will not have to pay closing costs, and they will not have to pay an application fee.

Quick Approval for Fast Cash

Since time is of the essence, property owners with delinquent tax bills can apply with the Dallas property tax lenders at Reliance Tax Loans and be approved all in one day. They will receive their money quickly as well and be able to pay their property tax bills in full without the fear of losing their homes.

The Annualized Rate of 44 Percent

Generally, Texas property owners must pay their property tax bills by January 30. Those who fail to do so receive a seven percent penalty. Every month after that the bill remains unpaid results in a two percent interest charge. A bill that has not been paid by June 30 is subject to a collection fee of 20 percent, and the monthly interest charged on the account is lowered to one percent. All of these fees and interest charges add up to the annualized rate of 44 percent.

Lawsuits

The taxing authorities do not have to wait very long before they file a lawsuit for payment of delinquent property taxes. They can begin legal proceedings the day the property taxes are past due. On the other hand, they may wait for fees and penalties to accumulate and then file the lawsuit. If the debt is determined to be valid, the taxing authorities may gain permission from the court to sell the property in foreclosure proceedings for payment of the tax bill.

Since so much is at stake, property owners who cannot pay their property tax bills need to find a solution to this matter quickly. They may only have seven to 12 months to act before they will be in danger of losing their homes, so it will benefit them greatly to call Reliance Tax Loans today.