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Article: Texas Homeowners Celebrate One-Year Anniversary of Home Equity Lines of Credit; Survey Shows Texans Using Home Equity Lines of Credit as Strategic Finance Tool; Still Many Need More Information About Home Finance Options.
- Article from:
- PR Newswire
- Article date:
- September 10, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN, Texas, Sept. 10 /PRNewswire/ -- September 13 marks one year since Texas voters passed Proposition 16, offering Lone Star state homeowners another option for access to and management of their finances through a home equity line of credit. To celebrate this important anniversary, Wells Fargo commissioned a survey of Texans on their knowledge and use of available home equity options.
The result of the survey, which included Texas homeowners with home equity line of credit accounts, showed that most respondents are using their home equity lines of credit to make home improvements (35 percent) or to consolidate bills (22 percent). When asked why they chose a ...