Texas § 64.063 PAYMENT OF ESTIMATED CHARGES BY BORROWER.

Texas Statutes

§ 64.063 — PAYMENT OF ESTIMATED CHARGES BY BORROWER.

Texas § 64.063

Code FIFinance Code

This text of Texas § 64.063 (PAYMENT OF ESTIMATED CHARGES BY BORROWER.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Finance Code Code Ann. § 64.063 (2026).

Text

Sec. 64.063. PAYMENT OF ESTIMATED CHARGES BY BORROWER.

(a)To enable the association to pay charges as they become due, an association may require a borrower to pay monthly in advance, in addition to interest or interest and principal, an amount equal to one-twelfth of the estimated annual taxes, assessments, insurance premiums, and other charges on the real property securing a loan.

(b)An association may increase or decrease the amount of the loan payment as necessary to meet the charges.

(c)An association may:

(1)carry payments in trust in an account; or

(2)credit the payments to the indebtedness and advance the money for charges as the charges become due.

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Sec. 64.063. PAYMENT OF ESTIMATED CHARGES BY BORROWER. (a) To enable the association to pay charges as they become due, an association may require a borrower to pay monthly in advance, in addition to interest or interest and principal, an amount equal to one-twelfth of the estimated annual taxes, assessments, insurance premiums, and other charges on the real property securing a loan.
(b) An association may increase or decrease the amount of the loan payment as necessary to meet the charges.
(c) An association may:
(1) carry payments in trust in an account; or
(2) credit the payments to the indebtedness and advance the money for charges as the charges become due.