Payoff Information

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Borrower Payoffs

Borrowers are able to request payoffs statements very easily. Please complete the form below and return it to our office. We must receive a completed and signed form in order to process the request.  Official payoff statements are usually delivered within 1-4 days. Depending on certain circumstances involving loan status, payoff statements can take as long as 7 days to be delivered. Once we are paid off, state law allows up to 30 days for release of liens to be prepared and recorded.  

Borrower Payoffs

Payoff Requests from Third Parties

Third parties (anyone other than our borrower) requesting a payoff must complete this form and return to our office.  We must receive this signed form in order to process the request.  Official payoff statements are usually delivered within 1-4 days. Depending on certain circumstances involving loan status, payoff statements can take as long as 7 days to be delivered. State law allows up to 30 days for release of liens to be prepared and recorded after the loan is paid off.   

Third-party payoff request

Notices to Mortgage Holder or Servicer

The Texas Tax Code 32.06 (f) and Texas Tax Code 32.06 (f-1) detail scenarios where the preexisting mortgage holders are entitled to payoff Texas property tax loans. These scenarios require the mutual borrower be either 90 days delinquent, or more, to the mortgage holder or the property tax lender. Otherwise, the mortgage holder is not entitled to payoff the property tax loan.  

Collection Notices

Texas Property tax lenders must follow the exact same foreclosure rules as the taxing units. In fact, we have additional notification requirements which include the 10 day notice and the 90 day notice. The foreclosure process is conducted through a judicial foreclosure process. Other lienholders of record will be served certified letters and a trial will be set. The collections process is extensive, lienholders are notified via certified mail numerous times during our collections process.  

Return of Payoff Payments

Preexisting mortgage holders who violate Texas Tax Code 32.06 (f) and (f-1) will have their payoff payment returned and our property tax loan will remain active.  

Payoffs from Other Property Tax Lenders

Once paid off, we will prepare and record a release of the tax lien(s) held, even if payoff payment is from another property tax lender. Under special circumstances, we will assign our tax lien(s) and it is required to enter into an agreement prior to delivery for an assignment. Claiming subrogation is a significant risk to the payer. Once we file our release of lien, the tax lien assigned to us from the taxing unit is fully released.  

Pre-existing Lienholder's Right to Payoff

The Texas Tax Code 32.06 (f) and Texas Tax Code 32.06 (f-1) detail scenarios where the preexisting mortgage holders are entitled to payoff Texas property tax loans. These scenarios require the mutual borrower be either 90 days delinquent, or more, to the mortgage holder or the property tax lender. Otherwise, the mortgage holder is not entitled to payoff the property tax loan.  

All governing code

Texas Tax Code 32.06

Texas Finance Code 351

Texas Admin Code, Section 89