Home equity loans are a relatively new invention for Texans (1997). The loans are limited to 80 percent LTV, not 100 percent (or even 125 percent that was once available in California). The rules are very strict. Out-of-state lenders hate them!
It makes alot of sense [80% LTV] and worked well in Texas to keep things "real" for borrowers and lenders. I consider this a success story as compared to the total housing meltdown that 100% LTV helped create. Has this Texas "model" been noticed/recognized throughout the mortgage industry?
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