Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Tax Lien Lender Notice Bill Advances in Texas House
Tuesday, May 5, 2015 6:50 AM

A bill requiring property owners to give advance notice to their lender if they intend to use a tax lien lender’s services has completed another step in the legislative process. HB 1936 was considered on the floor of the Texas House on Monday, May 4, and passed by a vote of 114 to 25.

When a homeowner contracts with a tax lien lender, the mortgage holder loses its first lien position. This notice would give the lender a period to pay the taxes on behalf of the borrower or employ alternatives that will protect the lender's priority position. Tax lien lenders assume the priority position of a government entity.

The Texas Credit Union Association has been supporting HB 1936, which protects the security interest that a credit union has in their collateral, reinforcing the priority of the credit unions interest in the collateral.

For further information, contact Jeff Huffman, Texas Credit Union Association, at jhuffman@txcua.coop or 469-385-6488.