5. HJR 31 3rd Reading

Passage. 5/24/97, p 2890 HJR 31 passed 21-8.

YCT Yea. Adoption of proposed constitutional amendment to allow for voluntary home equity loans for a first-lien refinance mortgage loan, a mortgage loan, or a second home equity loan. The ability to tap home equity in lending would allow Texas homeowners a great deal of flexibility in managing their financing. Homeowners, not overbearing government should decide whether or not they should obtain home equity loans for necessities. Allowing home equity lending broadens consumers’ choices.