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Texas Natural Resources Code

§ 162.014 — SECURITY FOR THE LOAN

NR § 162.014Title 7. RESOURCES PROGRAMS · Ch. 162. VETERANS' HOUSING ASSISTANCE PROGRAM · Art. B. VETERANS' HOUSING ASSISTANCE PROGRAM

Statute text

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No disbursement of funds on a loan shall be made unless the loan is secured by a mortgage, deed of trust, or other lien on the home. A mortgage retained by or a deed of trust to the board or any other lien may be a participation in a lien securing any other loan for the purchase of the property. Payments to retire the loan shall be made at times determined by the board.

Legislative history

Added by Acts 1983, 68th Leg., p. 547, ch. 115, Sec. 1.

Source: Texas Natural Resources Code § 162.014 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.