AUSTIN, Tex. -- A state Senate committee has proposed a constitutional amendment that would allow Texans to take out general-purpose second-mortgage loans for the first time.

But consumer protections written into the proposed amendment probably don't go far enough to win over opponents.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.