Home equity lending could soon take a giant step toward becoming a reality in Texas, where such loans are presently not allowed. The state Legislature is expected to consider and probably will approve a change in the 156-year-old law that bans home equity loans.

"We think we have a very realistic chance this year," said Mark E. Huckabee, president of Western National Bank, Lubbock. Mr. Huckabee is chairman of the Texas Conference for Home Owners Rights, an organization formed three years ago by bankers to address issues in home equity lending.

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