Texas Home Equity Loan Law
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Home equity loan - A home equity loan is a type of loan in which the borrower uses the equity in his home as collateral. These loans are sometimes useful for families to help finance major home repairs, medical bills or college educations.
Equity loan - An equity loan is a mortgage placed on real estate in exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LVR) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan.
Negative equity - Negative equity is a term used in the housing market, usually following a general fall in property prices, to mean that the market value of a mortgaged house or flat is less than the amount outstanding on the loan used to purchase it. This situation also occurs with 2nd mortgage home equity loans and some loans structured to loan more than the appraised value, such as 125% loans.
Texas International Law Journal - The Texas International Law Journal is a student-edited law journal at the University of Texas School of Law. The Journal is the fourth oldest student-edited international law journal in the United States.
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