Once a Home Equity always a Home Equity?
Well, not always. Over a decade ago Texas voters approved a Constitutional Amendment adding Section 50(a)(6) to allow home equity lending on homesteads in Texas. The restrictions on those loans were so...
View ArticleTexas Cash Out Loans – what’s “cash out”
Texas home equity = Texas cash out = 50(a)(6) loan They are all terms for the same thing. Texas home equity mortgage laws can be tricky. It’s hard to imagine a state loan regulatory law that is more...
View ArticleTexas Rule 736 Foreclosure – Judicial?
FORECLOSURES UNDER RULE 736, TEXAS RULES OF CIVIL PROCEDURE: Why an “Expedited Foreclosure Proceeding” is not a “Judicial Foreclosure” There is a common misconception in Texas as to what exactly is a...
View ArticleTexas Mortgage Lawyers – outdated model
The Texas Government Code requires licensed Texas attorneys to draft mortgage documents used in Texas. The old way of doing that was for the mortgage companies to send the information to the law firms...
View ArticleTexas Mortgage Refinance Law – Home Equity or Not?
Texas Home Equity 50(a)(6) mortgages on a Texas homesteads have dozens of restrictions. One common question about refinances I get from less experienced loan underwriters is, When does the “once a home...
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