Kubik stated that home equity lending in Texas is governed by Texas constitutional provisions, and amendments require voter approval. If Proposition 2 doesn’t pass, it would need to be resubmitted.
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Prop. 5 gives Mary an incentive to move. Mary and millions of senior homeowners like her are not moving and are plugging up the housing market. They want to move, their home is too big, it is not located where they would like to live and there are younger buyers waiting in line to buy Mary’s home.
· It sounds a little greedy, but greasing the wheels does help everything to run smooth. Plus, you can help out the bank and the buyers by not abandoning the house to squatters before they’re ready to take possession. 4) Rent it back. It may sound crazy, but some banks are willing to take on previous homeowners as tenants in their property.
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On Nov. 4, 2014, 80 percent of Texas voters approved the ballot measure known as Proposition 1, which authorized a constitutional amendment for transportation funding. Under the amendment, a portion of existing oil and natural gas production taxes (also known as severance taxes) would be divided evenly between the Economic Stabilization Fund.
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Help Texas homeowners with your vote. Proposition 2 is a proposed amendment to the Texas Constitution that would modernize the way Texas homeowners can access the equity in their homes while maintaining the strong consumer protections in the constitution. . Invite homeowners in your community to visit texansforprop2.com to learn more about home.
Your definition of Prop #2 sounds exactly the opposite of that given in the OP’s definitions. e.g.: Proposition 2 (HJR 36 – #1) HJR 36 would amend the constitution to authorize the legislature to provide for the taxation of a residence homestead solely on the basis of the property’s value as a residence homestead, regardless of whether the property may have a higher value if it were used for.