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The Texas Home Equity Controversy In Context Forum - Introduction., James W. Paulsen
The Texas Home Equity Controversy In Context Forum - Introduction., James W. Paulsen
St. Mary's Law Journal
This Essay provides some historical and legal context for the Texas home equity debate during the 1990s. It begins with an examination of early Texas homestead law, which did not clearly prohibit home equity lending. Part II describes the genesis of the homestead exemption in Texas. Public policy surrounding the homestead law had at least three components: protection of debtors, protection of women, and the fostering of an independent spirit in Texas settlers. Part III evaluates the Texas Constitution’s 1876 ban on home equity loans and the subsequent public debate up until the 1970s. Although criticism of the prohibition on …