To the Editor,

First, it is important that all Texans vote when there is an election. On behalf of the Texas Bankers Association, we have been witness to many frustrations voiced for years by our customers, with respect to home equity borrowing restrictions. The Texas Legislature has heard the consumers of Texas, and the result is Proposition 2. Voters will have an opportunity to improve their access to their equity on November 7th. Proposition 2 provides for easier access to a homeowner’s equity, should a consumer need it and allows for lines of credit for qualified property owners. Proposition 2 continues to provide important protections. It maintains the strict 80% loan to value consumer protection but can help families pay for college tuition, home renovations, and medical bills. Texas is unique with its home equity statutes. These changes, which the Texas Legislature passed in the recent session and contained in Proposition 2, will provide homeowners access to their hard-earned equity when they need it. I urge all voters to go to the polls and vote FOR Proposition 2 on November 7th! More information at http://texansforprop2.com

Eric Sandberg, President & CEO Texas Bankers Association