Tex. Finance Code § 159.202
WRAP BORROWER'S RIGHT TO DEDUCT
Texas · Texas Finance Code · Status: effective
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- Citation
- Tex. Finance Code § 159.202, WRAP BORROWER'S RIGHT TO DEDUCT, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/646473
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Full text
The wrap borrower, without taking judicial action, may deduct from any amount owed to the wrap lender under the terms of the wrap mortgage loan:
(1) the amount of any payment made by the wrap borrower to an obligee of a debt described by Section 159.001(7)(A)(ii) to cure a default by the wrap lender caused by the lender's failure to make payments for which the lender is responsible under the terms of the wrap mortgage loan; or
(2) any other amount for which the wrap lender is liable to the wrap borrower under the terms of the wrap mortgage loan.