Because homeowners and business owners in San Antonio, TX are often burdened with paying high property tax rates, sudden changes in financial circumstances can easily prevent these individuals from avoiding late or missed payments on these taxes. Rather than pay back taxes with high interest rates and penalties directly to the county, San Antonio residents have the option of transferring their tax lien to a property tax lending agency. These agencies are capable of benefiting property owners for numerous reasons, five of which are outlined as follows.
Protection against foreclosure
The longer one fails to pay a San Antonio property tax bill, the higher the likelihood of substantial tax liens and home or business foreclosure. A property tax loan offers protection against these risks because the lending agency assumes the responsibility of paying the county and organizes a low-interest repayment plan with the borrower. The borrower’s home or business is safe from foreclosure provided that the flexible conditions set forth by the property tax lender are met.
Lowered interest rates on property tax
When an individual becomes delinquent in terms of paying property taxes, interest and penalty fees are applied and increase over time. By taking the step to contact a property tax lender in the early stages of default, home and business owners can work with the agency to arrange a low-interest and fixed loan rate.
Flexible payment plans
San Antonio property tax lenders are often willing to negotiate flexible payment plans for individuals who take out a loan. These plans may vary in terms of length, interest rate, prepayment options and payment method. Rather than worry about the rigid property tax payment process imposed by the county, those who transfer their tax lien to a lending agency can enjoy the breathing room provided by a customized repayment plan.
Quick payment of property tax liens
The stress of defaulting on property taxes is difficult for home and business owners, but property tax lenders can rectify the situation by promptly paying a county tax bill once an individual is approved for a loan. The entire process of securing a property tax loan, from initial inquiry to payment of taxes after the loan closing, often takes approximately one week.
Prevention of credit card debt
When making the decision to apply for a property tax loan San Antonio, TX residents can avoid the complications that may arise from paying off property taxes with a credit card. Though settling a property tax debt through credit card payments may be a tempting quick-fix solution in the short term, if a person then fails to pay off the now-higher credit card balance, then interest will accrue and overall debt will rise. Property tax lenders prevent this situation by offering low interest rates on loans and manageable monthly payment plan options.
Property tax lenders who service the San Antonio, TX area are available to assist both residential and commercial property owners with paying taxes as well as interest, penalties and fees. Those who are interested in obtaining a property tax loan can contact a reputable lending agency to request an application.
