This memorandum is a follow-up to our November 1, 2007, memorandum on the same subject. Constitutional Amendment HJR 72, which amends the home equity provisions in Article 16, Section 50 of the Texas Constitution, approved by the voters on November 6, 2007, will take effect on December 4, 2007 (the date of the official vote canvass by the governor confirming statewide majority approval). New 12-Day Notice: Attached is a copy of the revised 12-day notice required by HJR 72 for all Texas home equity loans (closed-end loans and HELOCs) closing on and after December 4, 2007. Consistent with the advice we gave in 2003 when the 12-day notice was first amended, we recommend you follow the procedures outlined below with respect to Texas home equity loans (closed-end loans and HELOCs) closing on and after December 4, 2007.
