Texas Reverse Mortgage Proposition Passed
Amendments at a glance …
By The Associated Press
Texas voters decided nine proposed state constitutional amendments Tuesday. Here is a look at the election outcome:
-Proposition 7: Authorizes line-of-credit advances under a reverse mortgage so homeowners age 62 or older can borrow against the equity in their homes without taking a lump-sum loan or fixed monthly advance. APPROVED.
Source: Texas Secretary of State’s Office.
