Texas tax-lien transfers: Maligned and misunderstood
In an opinion piece in National Mortgage News, Thomas Mackie, III describes how the property tax loan business focuses on helping delinquent taxpayers. He supports the idea that there is a way for property tax lenders and mortgage lenders to co-exist.
"When property taxes are delinquent, county tax assessor/collectors by law charge a late fee and a monthly penalty totaling 12% from Feb.1 through July 1, plus annual interest of 12%. After July 1, private tax collectors may impose an additional 20% collection fee. The combined penalty and interest amount for delinquency in the first year could be an astounding 44% of the original tax bill."