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Texas Home Equity Mortgages
After bankruptcy, debtors may apply for Texas home equity mortgages
without restriction. Interest rates however are generally higher until
reestablishing credit, or alternatively, limiting home equity loans to a
lesser percentage of total home value. For instance, many Texas lenders
today offer 100% financing for new home purchases and Texas home equity
mortgages. By offering more equity as collateral, lender risk is
reduced, and in turn, interest rates offered should be more competitive.
Lo-Doc Texas Home Equity Mortgages
Almost anyone can qualify for a mortgage despite recent bankruptcy,
if offering a 30% down payment. The term "lo-doc" refers to the
relatively minimal financial information and documentation required when
collateral contains substantial equity. The same principle applies to
Texas home equity mortgages, in that advances up to 70% of equity value
are easily approved despite poor credit, bad credit, no credit, and even
a recent bankruptcy discharges.
The availability of Texas court records online remains in it's infant stage of development. Counties containing the largest cities frequently provide internet access to public records. Many smaller and/or rural counties do not maintain websites and court records, real estate records, deeds, liens and conveyances must be obtained either in person at the County Clerk's Office or by mail. In all counties, certification of records requires the payment of an additional fee, yet may be required as a condition of admissibility in Texas Bankruptcy Courts. Alternatively, records may be offered as evidence in Texas Bankruptcy Courts by stipulation upon the agreement of all parties in interest.
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