Under Texas Constitution Article XVI, Section 50, all of the following liens may be enforced against a Texas homestead EXCEPT:
Correct Answer
B) A judgment lien for unpaid medical bills obtained through a civil lawsuit
A judgment lien for unpaid medical bills cannot be enforced against a Texas homestead. Texas provides among the strongest homestead protections in the nation, and general judgment liens from unsecured debts such as medical bills are not among the constitutional exceptions.
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- → A Texas property owner defaults on both a first mortgage and a second-lien home equity loan. The first mortgage lender forecloses and sells the property at the trustee's sale. Under Texas law, what happens to the second-lien home equity loan?
- → Under Texas foreclosure law, a property is sold at a trustee's sale on the first Tuesday of the month. The winning bidder pays the full purchase price. Under Texas Property Code, when does the bidder receive a trustee's deed?
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- → A Texas homeowner closes on a home equity loan on January 15. The loan proceeds are not actually disbursed until January 18, three days after closing. The borrower exercises the right of rescission on January 26. Under Texas Constitution Article XVI, Section 50(a)(6), is this rescission timely?
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Previous Question
A Texas homeowner's property has a fair market value of $350,000. The homeowner has a first mortgage balance of $200,000 and wants to obtain a home equity line of credit (HELOC). Under Texas law, the maximum HELOC amount is approved. What is the borrower's combined loan-to-value (CLTV) ratio after obtaining the HELOC?
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Robert and Jennifer, a married couple, own a homestead in Texas. Robert wants to take out a home equity loan. Jennifer objects and refuses to sign the loan documents. Under Texas law, what is the outcome?