San Antonio Express News, October 25th, 2005
Texas voters began the process to allow
the state's residents to tap into their home equity in 1997.
Proposition 7 would give them the opportunity to complete the job.
After lagging behind the rest of the nation, Texans now have the
ability to obtain home equity loans, home equity lines of credit and
reverse mortgages. They still cannot, however, obtain a reverse
mortgage line of credit.
For Texas seniors, that's a major limitation. Homes are the single largest investments most people ever make.
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