Texas § 2304.062 DEPARTMENT LOAN RULES.

Texas Statutes

§ 2304.062 — DEPARTMENT LOAN RULES.

Texas § 2304.062

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 2304.062 (2026).

Text

Sec. 2304.062. DEPARTMENT LOAN RULES.

(a)The department shall adopt rules governing the making and servicing of a housing rehabilitation loan and the foreclosure of a loan in default. The rules must include:

(1)the requirement that a housing rehabilitation loan be evidenced by a promissory note payable to the state and be secured by a lien on real property in the state; and

(2)the standards under which a household in an area designated by a local government may qualify for a housing rehabilitation loan.

(b)In adopting the standards under Subsection (a)(2), the department shall take into account:

(1)household gross income;

(2)household income available for housing needs;

(3)household size;

(4)the value and condition of the housing to be rehabilitated; and

(5)the ability of househol

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Sec. 2304.062. DEPARTMENT LOAN RULES. (a) The department shall adopt rules governing the making and servicing of a housing rehabilitation loan and the foreclosure of a loan in default. The rules must include:
(1) the requirement that a housing rehabilitation loan be evidenced by a promissory note payable to the state and be secured by a lien on real property in the state; and
(2) the standards under which a household in an area designated by a local government may qualify for a housing rehabilitation loan.
(b) In adopting the standards under Subsection (a)(2), the department shall take into account:
(1) household gross income;
(2) household income available for housing needs;
(3) household size;
(4) the value and condition of the housing to be rehabilitated; and
(5) the ability of households to compete successfully in the private housing market and to pay for sanitary, decent, and safe housing in that market.