Tax Lien Servicing
InVesta Services and its management team have directly serviced over $470 million of liens on behalf of tax officials in counties, municipalities and school systems. However, if tax officials prefer to keep the collection process in-house, InVesta can accommodate this request at the same funding level. The experience of InVesta brings direct benefit to governments specifically by funding delinquent property tax lien portfolios which creates instant revenues. This in turn assists with demonstrating consistently high collection rates which leads to higher credit ratings; resulting in lower interest rates when borrowing and issuing bonds.
Direct servicing benefits on behalf of tax officials are as follows:
- InVesta relieves the tax official’s office of the burden of collecting delinquent property taxes, freeing up valuable staff time.
- InVesta retains ownership of the entire lien portfolio through its servicing life. Other large lien purchasers generally sell or securitize their tax lien portfolios, resulting in the needs of bondholders and trustees being put ahead of individual taxpayers.
- InVesta’s experienced staff and proven processes guarantee a seamless transition of the lien portfolio between the tax official’s office and InVesta Services.
- Tax officials are provided direct access to real time payment status information via InVesta’s secure website. Taxpayers are provided detailed payoff information promptly upon request.
- Banks, mortgage-servicing companies, closing attorneys and title insurance companies are familiar with and use InVesta’s timely, efficient web – based process to obtain immediate title, cancellation and payoff information. Over 2,100 lenders and real estate business entities have accounts with InVesta, enabling their access to immediate payoff information 24 hours a day, seven days a week. Annually, the company responds to more than 15,000 requests for information from the legal, mortgage and real estate business community.
- It is InVesta’s policy not to purchase tax liens on properties owned by seniors with homestead exemptions. Historically, over 85% of liens are filed on properties without homestead exemptions.
- Tax official’s requests for exceptions from the transfer are always accommodated.
- For residential taxpayers who find themselves in financial distress, InVesta offers flexible payment arrangements. For commercial taxpayers, the company provides payment strategies that work with the owner’s business plan. In many jurisdictions, taxpayers actually request that InVesta purchase their liens as they need the safety net of an arrangement that avoids foreclosure.
