INDUSTRY NEWS: NTLA PRESS RELEASES

NTLA Hosts Fall Symposium in Washington D.C. Oct. 23-24 to Educate Industry Professionals

Tuesday, September 23, 2014   (0 Comments)
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Investors, lenders, tax collectors, tax foreclosure attorneys, and policymakers will discuss solutions for states collecting $14 billion in lost property taxes every year

Media Contact:   Morgan Mains 
mmains@thentla.com
Phone: (561) 449-2484 x4

Washington, DC—September 23, 2014— The National Tax Lien Association (NTLA) will host its fall symposium in the nation’s capital October 23-24 at the Willard Intercontinental Hotel to give industry professionals from the public and private sectors the opportunity to learn and network. Sessions led by industry experts will educate attendees on property tax lien research and foreclosure statistics; state legislative activities; benefits of property tax lien sales; DC’s new tax lien sale requirements and more.

“States that permit the sale of property tax liens to private investors have discovered an innovative solution which not only enables states to balance their budgets and continue to fund vital services from schools to fire and police but it also gives property owners more time to pay their past due bills and keep their homes,” said Brad Westover.

The Honorable Christopher Murphy, United States Senator (D) of Connecticut has been invited to deliver the keynote address, “Legislative Change in America, Current State of Affairs at the U.S. Senate.” Professionals interested in attending the symposium may find registration information and rates at www.theNTLA.com. This event is closed to the press; however, NTLA will make every effort to accommodate media interview requests before, during and after the symposium.

Symposium attendees are also invited to join NTLA Board of Directors in their Habitat for Humanity of Washington, DC Team Build event in the Ivy Center neighborhood of DC. NTLA is the nation’s only trade association representing all aspects of the tax lien industry, from governmental agencies, investors and servicers, to lenders, accountants, attorneys, rating agencies and more.

“Our fall symposium will highlight best practices to help public and private tax lien professionals work effectively as partners in collecting the $14 billion in unpaid property taxes each year. Less than 1% of unpaid property taxes are ever sold at a tax deed auction. The fact is tax lien sales are an investment in future penalties and interest payments, not in real estate,” added Westover.

Each year unpaid property taxes create budget shortfalls for local and state governments who use these funds to provide critical services and pay infrastructure needs. Currently, 28 states and territories allow the sale of delinquent real estate taxes to private companies. It is a widespread myth that governments guarantee fixed rate returns on tax lien sales from 18%-36%.  In most states, tax lien certificates are awarded to the investor willing to accept the lowest interest rates.

NTLA supports the District of Columbia’s new tax lien auction safeguards to protect homeowners by excluding small liens from tax lien sales and barring unscrupulous tax lien purchasers from auctions. But NTLA cautions DC lawmakers against reducing the interest rate tax lien purchasers can collect from 1.5% to 1% because it will lower the amount of property taxes collected by encouraging taxpayers to pay their higher interest credit card debt before their property tax liens. Compared to 2013, the District collected $2 million less for unpaid taxes from its 2014 auction. 

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About the National Tax Lien Association
The National Tax Lien Association (NTLA) was founded in 1997 as a nonprofit professional trade organization for the tax lien industry. It is dedicated to representing the interest of investors lenders, service providers, and government officials in regards to tax lien sales, as well as promoting the benefit of those sales as reliable income for municipal, county, and some state budgets. The NTLA also provides networking and training opportunities for those in the tax lien industry. The NTLA is organized by a 13-member Board of Directors, responsible for guidance and the overall planning and direction of our mission. 

For more information, please visit www.thentla.com. To engage with the NTLA visit www.facebook.com/thentla, www.linkedin.com/company/national-tax-lien-association and  http://twitter.com/the_NTLA.

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