Tax Lien Loans

[George Roddy, Jr.]

George, do you offer any kind of course on lending to people who are behind on their taxes where we would hold the deed of trust, much like Suzanne Frossard?
(not the tax lien course I took in dec but simply lending and then holding the note on that)?

I was told by Suzanne one has to be licensed by the OCC? Does one have to be licensed?

Thanks much, linda

[George Roddy, Jr.]

Linda,

The short answer is NO. Roddy.com does not offer any course on how to lend to owners who are behind on their property taxes.

I am familiar with the process.

My first question would be to you, How many times per year are you looking to do this?

If you engage in lending money for tax purposes more than 5 times in a 12 month period you need to become a CERTIFIED TAX LENDER.

Less than 5, no certification needed.

What is the OCC? The OCCC they are talking about is the Office of Consumer Credit Commissioner. http://www.occc.state.tx.us/index.html

This is the agency that you need to get information on what are the qualifications and requirements.

Your options are 3.

1. Don't create more than 5 loans per year.
2. Become a Certified lender
3. Align with a Certified Lender.

We have a good relationship with a local Tax Lender that they package up the loan, we use our money to fund the loans. They get a cut of the interest rate, but they also handle the servicing and foreclosure proceedings. Win-Win, if you ask me.


Hope this helps and thanks for you question.


George- Roddy.com

[Eric Reish]

Linda,
I would be glad to help answer your questions. The same would apply to anyone who may read this.

As George told us in his reply, if you plan on making more than 5 loans in 12 consecutive months, you will need to be licensed.

I can help with the exceptions needing to be filed for each loan. If you know of clients that need help, we can aid you in making the investment. We service the loans, handle payments, reporting, recording, and releases.

Call me if I can be of any assistance

Eric

North Texas Tax Lien Loans
866-609-2409