Putting to a vote to let Texans decide whether the state Constitution should be changed to allow homeowners to borrow against the equity in their homes was unanimously recommended July 29 by a three-member interim Senate Committee on Home Equity Lending.

The panel voted to recommend to the full Senate "that it pursue legislation that would create a ballot proposition to allow the people of Texas to vote to amend the Texas Constitution in a manner that would preserve the homestead protection but would allow Texans by their voluntary action to encumber their home with a second mortgage."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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