CAN I REFINANCE MY HOME WITH A TAX LIEN?
Are you wondering, can I refinance my home with a tax lien? There are so many ways to get financing in the real estate industry as long as you know where to look!
Ted Thomas will help you understand how financing in real estate works, and you’ll find out if this is possible!
Surprise surprise! Most people don’t realize there’s a lot of money available. Today I’ll answer your question, “Can I refinance my home with a tax lien?”
The answer is yes, and I’ll tell you how and why and so much more.
Want to learn how you can make big profits from real estate? Would you like to buy homes for pennies on the dollar? Or earn outrageous interest rates secured by real estate? Then you don’t want to miss this FREE mini class.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – WHERE THE MONEY IS
Finance is a money business, and there are lenders, bankers, small pension plans, big pension plans, and many IRA accounts and 401K accounts. All of these like and want to lend money.
I’m going to give you a number of reasons and ways to use money that is available.
In my formal 3-day workshops, the attendees want to learn as much as possible about how to make profits with tax liens and tax deeds. Simultaneously, they want to learn where the money is and how to get it.
In the right environment, they learn quickly that financing/borrowing money and credit are all so, so, so important to success in business, especially the real estate business.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – INCOME AND EQUITY
So let’s get into more detail to answer your question, can I refinance my home with a tax lien?
The answer is yes, if you have sufficient income and equity in the home. Maybe you’re wondering what I mean by that.
For example, let’s say you own the home valued at $200,000, and you owe the bank $100,000.
When you apply for a loan, the lender will require that you verify your income and assume that your income is sufficient to pay for a new loan.
The lender will grant you refinancing for a new loan, which may be at a lower interest rate or a higher interest rate.
The point is, if you qualify with earnings and you have equity, lenders like you.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – A SECOND LOAN
A similar process which is easier might be to borrow on a second loan rather than refinance.
Those are 2 relatively easy options, and in both instances, the lender will require documentation.
The lender will also require that you’ve paid your property taxes. More than likely, the lender will deduct the property tax dollars from your loan proceeds and will pay the tax lien for you.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – THE AVAILABILITY OF MONEY
When I’m teaching a workshop in a large ballroom of a hotel, I put a big sign on the wall that reads:
The availability of money is more important than the cost of money.
Many students see that statement on the wall, and they reject what they read. Their parents or someone has insisted they pay everything off. Own your house; do not have debt.
They will rebel and say to me, “Ted, I don’t want to borrow. I pay everything down to zero.”
Just so you know, I’m okay with that, however, that student has now limited their growth.
I have a nice gift for you. It will teach you how to find and profit from the best bargains in real estate, and it’s free. So be sure to take advantage of it. You don’t want to miss out!
CAN I REFINANCE MY HOME WITH A TAX LIEN? – MONEY IS A TOOL
A different thought process for you to entertain is: Money is a tool to enhance your business.
The banks provide those tools, and they generate profits. If you have tools, you can generate profits.
For example, auction buyers are pleasantly surprised to find bargains at tax deed auctions, and after they’ve been formally trained to evaluate, purchase and resell, they need money.
They have skills to develop more money to make lives better for their families and to make lives in the community better. Without money, they have education, and it’s wasted.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – GENERATING MONEY
The skills they learn are buy low, and in Ted’s world, sell low quickly and generate money.
This is honorable and ethical, and it helps the community. It helps the individual, and it helps new families.
One man’s garbage is another man’s gold. Someone has walked away. They didn’t want the property that was purchased.
Mother nature would ultimately destroy the property if it’s not taken care of. The county auctions properties that are unwanted. Auction buyers rehabilitate, resell and make the community better.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – AN EXAMPLE
For example, Mrs. X. locates a property that is coming up for a tax auction. It turns out it’s a mobile home. All her friends and so-called real estate experts, tell her, “Oh no! Mobile homes are junk. You’ll lose your assets.”
Mrs. X. learns to thank her friends for their advice and make her own decisions. She has been trained to locate, evaluate and then make decisions.
Simply said, she locates the property and finds it’s in an upscale neighborhood in a well-managed mobile home park with professional management.
She interviews the manager and finds that he is desperate for rental units, and he shows her he receives 25% more than market prices because of the excellent neighborhood and management.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – TRADITIONAL LENDERS
So, what’s her problem? It’s always the same problem. Investors get skills, and they have no money.
The availability of money is more important than the interest rates.
Mrs. X. being a traditional person, having been banking in the same building for 25 years, asks the bank manager to lend the money. Weeks pass. Each week it’s a new request for paperwork.
Finally, days before the auction, the banker responds with a negative answer. The bank does not like mobile homes.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – FINDING INVESTORS
This is a common story and happens every day. The world is awash in money. Thousands of investors, people with pension plans, IRA accounts, ROTH IRA accounts, and 401K accounts are looking for someone to borrow their money.
They don’t want to work. They don’t want tax auctions or mobile home parks or new skills. The only thing they want is money, and they want higher interest rates.
Our Mrs. X investor wants money. Now we have a perfect world.
CAN I REFINANCE MY HOME WITH A TAX LIEN? – ACQUIRING FINANCING
Mrs. X. just needs to connect with dozens, hundreds, thousands of people with pension plans, IRA accounts, ROTH IRA accounts, and 401K accounts, who would like to lend, then ask them for the money and pay them 10%.
The cost of the money does not matter. The availability is the point of the lesson.
So to answer the question, “Can I refinance my home with a tax lien?” a better answer than yes, is to say, of course you can. Just ask yourself, what’s in it for the person whom you want to borrow from.
Thousands of lenders will refinance your property. However, they may have certain rules and regulations, and they may require more interest than the bank.
The availability of money is more important than the interest rate.
We hope you learned a lot from Ted’s lesson, “Can I refinance my home with a tax lien?”
The answer is, yes, you can, if you have enough income and equity in the home. In fact, the lender may even pay the tax lien for you and deduct the amount from your loan proceeds.
If you’re a real estate investor, money is an important tool, and you’d be limiting your prospects if you’re shy about borrowing.
Traditional lenders may not always want to lend to real estate investors, however you have plenty of options available.
A lot of people have money in their pensions, IRA and 401K accounts that they’re willing to lend, perhaps for more interest, but the availability of money is more important than the cost of money.
If you’ve got the skills and you’re willing to work, you can find people willing to lend to you.
This is particularly the case if you’re able to pick up properties for pennies on the dollar that leave you with plenty of profit margin.
With tax defaulted property investing, you can get properties for 10, 20, or 30 cents on the dollar, and without a mortgage.
If you’d like to know more about how to profit from bargain real estate, there’s no one more qualified to teach you than Ted Thomas, America’s leading authority on tax lien certificates and tax defaulted property investing.
Ted Thomas is the only one who provides full support and complete training with home study courses, Q&A webinars, live tutorials, workshops & web classes, and personal coaching.
If you’d like to get started today, you can begin now at no cost by taking advantage of Ted’s FREE Master Class. It’s only about 1 hour of streaming video and will open your eyes to an incredible opportunity that can change your life.