Homeownership is the best way for most people to build wealth, but many Texas homeowners can’t access the equity in their homes because of outdated laws from 20 years ago.
Thankfully, Proposition 2 on the November ballot is your chance to make changes to current law and help more Texas homeowners to access the equity in their homes
What will Prop 2 do?
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 equity loans and how Prop 2 will help them.
Get the word out
Texans can vote early for Prop 2 between Oct. 23 and Nov. 3, and Election Day is Tuesday, Nov. 7.
Check out the REALTOR® toolkit at texansforprop2.com/realestate to find several promotional tools, including customizable fliers, a letter to your clients, talking points, and social media images.
What else is on the ballot?
Texas voters will vote on seven proposed amendments to the state constitution that address a variety of issues.
Visit texasrealtorssupport.com to see the ballot language for all seven amendments and plain-language explanations of each.
Political advertising by the Texas REALTORS® Issues Mobilization PAC
Prop 2: Not fond of the words ‘establish certain lender’ — is this an attempt to limit competition?
Thank you for your comment. That language in Prop 2 clarifies that lenders must be licensed and regulated to make home equity loans.
REALTORS BEWARE! Prop 2 is NOT good for homeowners as it will actually increase the amount banks can charge, will strip homeowners of the constitutional protections against foreclosure they now enjoy, and incentivize banks to make unnecessary loans.
This REALTOR is voting NO, and so should you!
The Texas Association of REALTORS® supports Proposition 2 because it provides more options for Texas homeowners wishing to access the equity in their homes while maintaining the strong consumer protections currently in the Texas Constitution. The current requirements and qualifications needed to take out a home equity loan will not be changed. You can find more information on these and other points at TexansForProp2.com.
I understand TAR’s support of what appears to be a pro-homeowner Proposition. But more options aren’t good in this instance as the Houston Chronicle does a good job of reminding us in their article today where they urge voters to VOTE NO!
REALTORS should check it out.http://www.houstonchronicle.com/opinion/recommendations/article/State-Propositions-Voters-should-vote-for-1-and-12292126.php–
As REALTORS, our duty should be to help protect homeowners from higher fees and fewer constitutional protections, not to support banks just so homeowners can put their homestead at risk to purchase things they can’t afford in the first place.
Thanks Greg looks like is a bad idea for homeowners and an easy way for the banks to increase their money. The same way that they took our rights as a patient and protect the doctors but they sold it like smaller copayments for us