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TITLE 7 | BANKING AND SECURITIES |
PART 8 | JOINT FINANCIAL REGULATORY AGENCIES |
CHAPTER 153 | HOME EQUITY LENDING |
RULE §153.41 | Refinance of a Debt Secured by a Homestead: Section 50(e) |
A refinance of debt secured by a homestead and described by any subsection under Subsections (a)(1)-(a)(5) of Section 50 of the Texas Constitution that includes the advance of additional funds may not be secured by a valid lien against the homestead unless the refinance of the debt is an extension of credit described by Subsection (a)(6) of Section 50 of the Texas Constitution, or the advance of all the additional funds is for reasonable costs necessary to refinance such debt or for a purpose described by Subsection (a)(2), (a)(3), or (a)(5) of Section 50 of the Texas Constitution. |
Source Note: The provisions of this §153.41 adopted to be effective January 8, 2004, 29 TexReg 84; amended to be effective November 26, 2020, 45 TexReg 8307 |