http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1643594#M104554 I like to know more on this from people that have it.<br><br>What it is, the benefits and drawbacks. Will this reduce my mortgage payments?<br><br>I will be applying once I close this decembe. Finger close :) Mon, 15 Oct 2012 00:52:47 GMT amaurym 2012-10-15T00:52:47Z http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1643594#M104554 I like to know more on this from people that have it.<br><br>What it is, the benefits and drawbacks. Will this reduce my mortgage payments?<br><br>I will be applying once I close this decembe. Finger close :) Mon, 15 Oct 2012 00:52:47 GMT http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1643594#M104554 amaurym 2012-10-15T00:52:47Z http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1644090#M104561 <p>Not in Texas any more but there's no reason not to file Homestead and every reason to do so.</p><p> </p><p>Your homestead is protected from any form of foreclosure except purchase money mortgage, and your property taxes may be reduced, they are certainly capped for increases.</p> Mon, 15 Oct 2012 10:47:41 GMT http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1644090#M104561 chasmith 2012-10-15T10:47:41Z http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1645602#M104596 <p>protects your home from creditors.</p><p>lowers taxes</p><p>file it when it becomes time</p><p> </p> Tue, 16 Oct 2012 03:24:30 GMT http://ficoforums.myfico.com/t5/Mortgage-Loans/homestead-in-texas-pros-and-cons/m-p/1645602#M104596 DallasLoanGuy 2012-10-16T03:24:30Z