Navigation Links
Texas House Approves Reverse Mortgage Legislation
Date:5/20/2013

Austin, Texas (PRWEB) May 20, 2013

The Texas House of Representatives has approved legislation that would strengthen reverse mortgage lending in Texas.

On Thursday, with the support of consumer groups, the House approved Senate Joint Resolution (SJR) 18 by a 139-1 vote. The legislation now goes to the voters of Texas on November 5th for approval before it can become law. The Texas Senate approved this legislation in March by a vote of 31-0.

SJR 18 would amend the Texas Constitution to authorize the “Reverse Mortgage for Purchase” program in Texas and would enhance consumer disclosure requirements for all reverse mortgage loans in Texas.

Currently, Texas is the only state that does not allow the reverse mortgage for purchase program for homeowners. If passed in this fall’s election, this legislation will open up additional financing options for Texas homeowners, age 62 and over, who are downsizing or relocating to be closer to children or medical care or for any other reason. These seniors will be able to conserve cash assets, while being assured that Texas’ uniquely protective homestead laws and strict compliance standards in our constitution will preserve their home investment.

“This was a critical piece of legislation for homeowners in Texas,” says Scott Norman of Sente Reverse Mortgage and a member of the National Reverse Mortgage Lenders Association Board of Directors. “Today’s vote by the House was clearly supportive of reverse mortgage lending and the goal to provide enhanced consumer disclosures for all borrowers,” said Norman.

Since 2001, over $5 billion has been accessed by homeowners in Texas using a reverse mortgage. Texas now has a national market share of 8% of all reverse mortgages made in the country, making the Lone Star State the second-largest market for this retirement product.

For more information about reverse mortgages in Texas, go to http://www.sentereversemortgage.com

Sente Mortgage NMLS #132111

Read the full story at http://www.prweb.com/releases/2013/5/prweb10743832.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. More than one-third of Texas women still receive unnecessary breast biopsy surgery
2. Texas Health Insurance and California Health Insurance Quotes Now Available Online by Ace Health
3. Viewpoints TV Announces May Air Dates for the Dallas-Ft. Worth, Texas Area
4. Best 2013 Texas Home Security System Companies Graded by 6Webs.com
5. Texas teen appears in new video from the International Essential Tremor Foundation
6. Texas-Based Window Company Raising Money for Children's Hospital
7. Texas Woman Alleges Actos Caused her Bladder Cancer, Parker Waichman LLP Files Lawsuit on Victim’s Behalf
8. Texas Veterinary Cancer Registry Expands Nationally
9. North Texas Coaches Announce May 3rd Rick Carson Workshop and Luncheon
10. Skechers Injury Lawsuit Filed on Behalf of a Texas Woman Who Sustained a Number of Serious Injuries Allegedly Due to Design of Skechers Shape-Ups, By Wright & Schulte
11. First Choice Emergency Room Hosts Event in Cypress, Texas to Celebrate the Local Community
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/24/2017)... NEW PORT RICHEY, Fla. (PRWEB) , ... April ... ... Disease Control and Prevention (CDC), rising prescription opioid overdose deaths now claim the ... (DEA) has slashed its civil case filings against drug manufacturers, distributors, pharmacies and ...
(Date:4/24/2017)... ... April 24, 2017 , ... Pitavastatin, a relatively new statin, ... not known to have significant interactions with antiretroviral therapy (ART). Among people ... and dampen inflammation in the bloodstream. , While lowering cholesterol and dampening inflammation ...
(Date:4/24/2017)... (PRWEB) , ... April 24, 2017 , ... Donna Parker, ... but she has not found any of them to be very practical. She wanted ... slowly and easily make changes in their health. It prompted her in writing “ ...
(Date:4/24/2017)... ... 2017 , ... “The Saint with Trin, and Omega Station”: a triple feature ... creation of published author, Chris Jackson. Chris Jackson grew up in Abilene, Texas. ... Independent School District teaching English. He is heavily involved in the youth group of ...
(Date:4/24/2017)... ... April 24, 2017 , ... Anaconda ... generation neuro-thrombectomy systems for the treatment of Acute Ischemic Stroke (AIS), today announced ... device as the product advances towards regulatory and clinical phases. , "This is ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... , April 20, 2017  CVS Pharmacy, the ... unveiled a new store design to enhance the ... healthier food, health-focused products and expanded beauty selections ... help customers discover new offerings. Together with its ... evolution of the customer experience at CVS Pharmacy.  ...
(Date:4/20/2017)... , April 20, 2017 NeuroVive ... ("NeuroVive") today announced positive preclinical results demonstrating ... compound for non-alcoholic steatohepatitis (NASH), in an ... NV556 has previously shown similar ... model. Today, NeuroVive,s scientists present novel data ...
(Date:4/19/2017)... Calif. , April 19, 2017  IRIDEX Corporation ... will release financial results for the first quarter 2017 ... 2017.  The Company,s management team will host a corresponding ... p.m. ET. Investors interested in listening to ... 707-0665 for domestic callers or (703) 326-3030 for international ...
Breaking Medicine Technology: