FINANCE CODE
TITLE 4. REGULATION OF INTEREST, LOANS, AND FINANCED TRANSACTIONS
SUBTITLE B. LOANS AND FINANCED TRANSACTIONS
CHAPTER 343. HOME LOANS
SUBCHAPTER A. GENERAL PROVISIONS
Sec. 343.001. DEFINITIONS. In this chapter:
(1) "Bridge loan" means temporary or short-term financing requiring payment of only interest until the entire unpaid balance is due.
(2) "Home loan" means a loan that is:
(A) made to one or more individuals for personal, family, or household purposes; and
(B) secured in whole or part by:
(i) a manufactured home, as defined by Section 347.002, used or to be used as the borrower's principal residence; or
(ii) real property improved by a dwelling designed for occupancy by four or fewer families and used or to be used as the borrower's principal residence.
(3) "Restructure" means a change in the payment schedule or other terms of a home loan as a result of the borrower's default.
Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. Sept. 1, 2001.