Texas Owelty deeds – for homesteads
When a property is owned by two people, and one sells to the other with owner financing, the security for repayment would normally cover the property that was conveyed. The property conveyed was only...
View ArticleOnce a Home Equity always a Home Equity?
Well, not always. Over a decade ago Texas voters approved a Constitutional Amendment adding Section 50(a)(6) to allow home equity lending on homesteads in Texas. The restrictions on those loans were so...
View ArticleTexas Tax lien foreclosures
Complicated stuff. You need to know what you are doing if you want to safely invest in real estate through Texas tax lien foreclosures. You can buy from taxing entities or from private companies who...
View ArticleDivorce Texas style
In Texas a divorce in final when the judge says so in court and signs the divorce decree. Until that time the couple is married. There is no “in between” legal status which would affect a real state...
View ArticleTexas Common Law Marriage
In addition to the formal marriage where a marriage license is obtained, Texas recognizes informal marriages so-called common law marriages. The Texas Family Code (section 2.401) sets out three...
View ArticleTexas Land Title Association TLTA
The TLTA describes itself as follows: “TLTA is a statewide trade association representing the Texas title insurance industry. Our primary membership consists of licensed title insurance agents and...
View ArticleAppraisal value problems
The appraisal is the most important factor in determining how much can be borrowed for a residential mortgage. Lenders calculate the maximum loan amount as a percentage of the appraised value. Many...
View ArticleTexas Homestead Rights – Inalienable
Each spouse of a married couple in Texas have rights to a homestead that has been established in Texas by intent and overt acts. The homestead rights to occupy the home and be protected from creditors...
View ArticleTexas Mortgage Refinance Law – Home Equity or Not?
Texas Home Equity 50(a)(6) mortgages on a Texas homesteads have dozens of restrictions. One common question about refinances I get from less experienced loan underwriters is, When does the “once a home...
View ArticleTexas Divorce – Missed Property
When a couple gets divorced in Texas, the divorce decree should specify who owns which property after the divorce is final. What if a property is left out? Community Property – The presumption is that...
View Article
