Archive

Go to:

August 2017
SMTWTFS
12345
6789101112
13141516171819
20212223242526
2728293031
< Jul Sep >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Texas House Approves Real Property Lienholder Protections Bill
Monday, May 15, 2017 7:00 AM

The Texas House has approved HB 2832 by Rep. René Oliveira (D-Brownsville), which requires a property owner to give 10 days’ notice to the mortgage servicer before entering into a contract with a property tax lender. 

This notice gives the primary lender a period to pay the taxes on behalf of the borrower or employ alternatives that will protect the lender's priority position. When a homeowner contracts with a tax lien lender, the mortgage holder loses its first-lien position. Tax lien lenders assume the priority position of a government entity.

The bill passed on a vote of 113 to 22 and is to be considered in the Senate Business and Commerce Committee Tuesday.

For more information, please contact Texas Credit Union Association President Jeff Huffman at 469-385-6488 or jhuffman@txcua.coop.