Proposition 2 is a proposed amendment to the Texas Constitution that would modernize the way Texas homeowners can access home equity loans and home equity lines of credit.
Why do we need Proposition 2?
Home equity loans can be a helpful tool for homeowners. But because of the way the law was originally written, they aren’t an option for all Texans. Prop 2 makes the loans available to more Texas homeowners—all while maintaining the strict consumer protections that have served the state so well. Prop 2 also gives homeowners with existing home equity loans more options when it comes to refinancing.