SECTION 153.95. Cure a Violation Under Section 50(a)(6)(Q)(x)

(a) If the lender or holder timely corrects a violation of Section 50(a)(6) as provided in Section 50(a)(6)(Q)(x), then the violation does not invalidate the lien.

(b) A lender or holder who complies with Section 50(a)(6)(Q)(x) to cure a violation before receiving notice of the violation from the borrower receives the same protection as if the lender had timely cured after receiving notice.

(c) A borrower's refusal to cooperate fully with an offer that complies with Section 50(a)(6)(Q)(x) to modify or refinance an equity loan does not invalidate the lender's protection for correcting a failure to comply.

Source Note: The provisions of this §153.95 adopted to be effective November 11, 2004, 29 TexReg 10257; amended to be effective November 13, 2008, 33 TexReg 9074