On November 7, 2017, Texas voters approved SJR 60. You can review the text of the new law here. This law includes several amendments to Article XIV, Section 50 of the Texas Constitution that concern home equity loans. Highlights of the amendments include but are not limited to:
- changing the percentage limitation on fees charged to the borrower from 3% to 2%;
- removing the prohibition against encumbering homestead property which is being taxed at agricultural valuation;
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