The Texas House has approved legislation that would expand the scope of reverse mortgage lending in the state to the benefit of retirees, its supporters claim. Senate Joint Resolution 18 would amend the Texas Constitution to authorize the Reverse Mortgage for Purchase program and would enhance consumer disclosure requirements for all reverse mortgage loans in Texas. Since 2001, more than $5 billion has been accessed by Texas homeowners using a reverse mortgage, and the state now has a national…
Reported by bizjournals 1 day ago.
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