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| FAQ'S
Frequently Asked Questions Have a Question? Call one of our Loan Officers at 866-456-3839 for a quick answer. How Does a Tax Loan Work? We loan you the money to pay off your tax bill completely (taxes, penalties, interest, attorney fees, etc.) We give you a payment plan to pay us back over a length of time that you choose (from 1 to 10 years). What are the benefits of a tax loan? Saves money by stopping the penalties, interest and legal costs charged by the County. Prevents foreclosure of the property by the County. No credit reporting. Flexible payment plans to fit your budget. Peace of mind. How do I apply? You can apply on-line at our website or call and speak with one of our Loan Officer at 866-456-3839 and they will take your application over the phone. It takes about 15 minutes. How long does it take to get a tax loan? From 2-8 days. In most cases, within the week after receiving your application we will send you the loan documents. What kind of property do you make tax loans on? We make loans on any kind of real estate: residential houses, homesteads, rent houses, raw land, commercial buildings, motels, shopping centers, development tracts, duplexes, apartment buildings, farms, ranches and any other type of real estate. Do I have to come to your office? No. We can mail the loan documents to you with a self-addressed postage-paid return envelope. Three of the documents must be signed before a Notary. Most local Banks have a Notary available. If more convenient, we are able to have a representative meet you at your home, work or other place of your choosing to deliver the documents to you and notarize them. In what counties do you make tax loans? Any County in Texas. Do you check my credit? No. We do not check credit and we do not report your loan to a credit reporting agency. We do verify that you have the ability to make the loan payments. We will want to know your monthly income and expenses to be sure that you can afford the monthly loan payments. May I pay the loan off early? Yes. There is no prepayment penalty. You can pay the loan off at any time. For example, if you pay the loan off after 90 days, you only would owe 90 days worth of interest. May I pay more than my normal payment and pay the loan off early? Yes. You are only required to make your minimum monthly payment. You can pay more than your normal monthly payment any time you want to. If you send in more, that additional amount will be applied to your principal loan balance and your loan will be paid off ahead of schedule. Will there be a lien against my property? Yes. The County already has a tax lien against everyone's property beginning January 1. When we pay your tax bill, the County will transfer that tax lien to our company and that is our security for your payment. When you have paid off your loan, we release the lien by filing a release in the County records. What happens if I default in paying my tax loan? Under Texas law you would be given notice of the default and the opportunity to cure the default. Foreclosure proceedings could be initiated if the default was not cured. Our policy is to work with you to get caught up on your late or past due payments. What are the costs of getting a tax loan? The closing costs vary depending on the amount of the loan. In most cases, the closing costs do not exceed 10% of the tax amount owed. The closing costs include all expenses to get the loan such as attorney fees to prepare the loan documents, recording fees and filing fees with the County. On each loan, we verify title; assess the value and the flood plain status of the property. The closing costs are made part of the loan amount so there is no immediate payment required to get the loan. Please contact one of our Loan Officer at 866-456-3839 for quote on what the closing costs would be on your tax loan. What will be my "out of pocket" expenses to get this loan? Nothing. All closing costs are rolled into the loan. You do not have to pay a penny out of your pocket to get the loan. The only out of pocket expense is after you have paid off the loan there is a charge of $110.00 to prepare and file the release of lien. What is the interest rate? The maximum interest rate allowed by law on a tax loan is 18%. Our average interest rate is lower than that. Please contact one of our Loan Officer at 866-456-3839 for current loan rates. How long will I have to repay the loan? That is up to you! We have payment plans up to 10 years. The longer the payment period, the lower the monthly payment will be. We also offer an "interest only' loan which features the lowest monthly payment possible. Remember, there are no prepayment penalties so you can pay off any of our loans at any time without penalty. How much will I save by getting a tax loan? Depending on what County you are in, the expenses, penalties, interest, attorney fees and court costs that the County will charge you can range from 37% to 44% per year. Our interest rates are less than 18%. The sooner you obtain a tax loan, the more money you save by avoiding the penalties and interest that the County is charging you. More importantly, with a tax loan from us, you will avoid the County foreclosing on your property for non-payment of taxes. Call 866-456-3839 and ask one of our Loan Officer to assist you with calculating your total savings. What happens if I do not pay my taxes owed to the County? Your tax bill gets bigger and bigger and bigger and at some point, the County will foreclose on your property and have it sold at a public auction on the courthouse steps. The County then applies the money from the foreclosure sale to pay the taxes. You can avoid this situation by obtaining a tax loan and paying off the County now. What kind of payment plan could I get with the County? Under Texas law, the County may not accept a payment plan that is longer than 3 years. We offer loans with terms up to 10 years resulting in a lower monthly payment. Call one of our Loan Officer at 866-456-3839 to discuss the costs savings with one of our loans. Will this tax loan go on my credit? No. We do not report our loans on your credit. What if I owe taxes for several years? No problem. In most cases we can make a loan to cover all of the unpaid taxes, penalties and interest - even if it is for many years worth of tax debt. We can pay current and past years taxes in one loan. I have several properties that I owe taxes on. Can I get a loan for all of the taxes that I owe? Yes. We are usually able to pay off all of the tax debt on all of your properties in one loan. If I have a loan with Hunter-Kelsey of Texas, LLC already, may I get another loan for this year's taxes? Yes. If you are in good standing, just call one of our Loan Officer at 866-456-3839 to discuss a loan for subsequent year's taxes. How do I make my loan payments? Your payments will be due monthly. You may pay by check, money order, cashier's check, check by phone or wire transfer. At your option, you may set up payments very efficiently through an ACH payment plan. Who is not eligible for a tax loan? If the property is your residence homestead and you are 65 years of age or older or if you have a disability for purposes of payment of disability insurance benefits, you do not need a tax loan. You are eligible to "defer" your taxes on your residence homestead with the County. Call us to discuss the possibility of a deferral at 866-456-3839. If you still have a question or want to discuss a tax loan, call one of our Loan Officers at 866-456-3839. |
What our clients say: It has been
a pleasure dealing with your company who relieved a great of stress
while informing me of every detail honestly. This also caused me
to save over a $1,000.00 by choosing you over one of your competitiors.
You all were an extremely efficient and friendly staff. You all were
very fast and efficient. Your Staff is AWESOME! Thanks! You all are
the most friendly people. You made me feel very good about my loan
and I could not believe it was so easy! I want to thank
you for helping us out and giving us the knowledge that we needed
to pay our taxes. This really helped out our family and we are very
satisfied because you answered all of our questions.
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