Finance Code § 343.001

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.