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Regular Contributor
Posts: 134
Registered: ‎04-02-2012

homestead in texas - pros and cons ??

I like to know more on this from people that have it.

What it is, the benefits and drawbacks. Will this reduce my mortgage payments?

I will be applying once I close this decembe. Finger close Smiley Happy
Current Score: EQ 694(Fako), EX 676(Fako),TU 729
Goal Score: 750 across the board
Valued Contributor
Posts: 1,063
Registered: ‎05-26-2010

Re: homestead in texas - pros and cons ??

Not in Texas any more but there's no reason not to file Homestead and every reason to do so.


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.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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Super Contributor
Posts: 7,048
Registered: ‎07-03-2007

Re: homestead in texas - pros and cons ??

protects your home from creditors.

lowers taxes

file it when it becomes time


* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' (and now Louisiana)since 2004

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