What Does it Take to Receive a Property Tax Loan?

The deadline has passed, and Texas homeowners may not have paid their property taxes. They did not neglect to pay their property taxes because they are acting frivolously. They are having financial difficulties that make it impossible for them to pay these high tax bills. The solution to this problem is simple if people contact Reliance Tax Loans. When they do so, they will be able to apply for a property tax loan that will pay their bills in full.

The First Step

First, applicants will need to fill out an application. The website contains a short form that can easily be completed online. The information that people will need to enter is the following:

• The owners’ names
• The property’s address
• The city where the property is located
• The county where the property is located
• The owners’ telephone number
• The amount owed in property taxes
• An email address

Those who wish to begin the process over the telephone may do so by calling the toll-free number. After the company receives the application, they will put together loan documents that will outline the terms and conditions of the loan. The company will send these documents to the applicants so that they can review them at their leisure.

The Company’s Duties

The company will need to perform three duties at this time. They will do a title search and will inspect the homeowners’ property. Then, they will ensure that everything written on the application is accurate. Lastly, they will seek the information they need from the Taxing Authority.

The Remaining Steps

If everything is in order, the company will approve the loan. The company contacts the applicants so that they can set up an appointment time and place where they will meet to close the property tax loan. However, applicants have three days to change their minds about accepting this loan, so the lender will wait three days to pay the property tax bill. If this amount of time passes, the lender will pay the Taxing Authority and offer the borrowers the receipt.

Repaying the Property Tax Loan

One month after the property tax loan closes, repayment will begin. The repayment process will be easy for applicants because these payments will be made through their checking accounts. The lender will electronically withdraw the amount owed so that borrowers will not have to mail their payments. However, it will be up to the borrowers to set the due date that is most convenient to them.

The Advantage of Applying with Reliance Tax Loans

When people apply with Reliance Tax Loans, they are working with a lender who does not want to foreclose on their properties. Other lenders will seize the property if a loan becomes delinquent so that it can be sold in foreclosure. Reliance Tax Loans cannot promise that this will never happen, but the company does make a pledge to help find a solution to any late or missed payments before foreclosure proceedings are initiated. On the other hand, some borrowers may wish to prepay their loans. They will be able to do so without incurring a prepayment penalty with Reliance Tax Loans.