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Home Equity Reform In Texas Forum., Jerry Patterson

St. Mary's Law Journal

Texas citizens should vote on home equity reform to be able to decide for themselves whether they desire the benefits of home equity borrowing. Texas is the only state in the nation that prohibits homeowners from using their home equity as they see fit such as to educate their children, to start or expand small businesses, or to enjoy their retirement years. Critics to home equity reform in Texas do not fully understand the scope of the amendments or the benefits that come with reform. The myth that equity loans would trigger an increase in foreclosure rates cannot be documented …