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Summary
HB 1460 contains a broad melange of changes to the statute governing the manufactured housing industry. Among the changes is a removal of the 5 day right of rescission for purchasers who borrow to buy their manufactured home.Background
The right of rescission was added in 2003 (HB 521(78))because of problems with high pressure sales.Political Context
This language has been proposed by the Texas Manufactured Housings Association, a trade group.Additional Links
Consumers Union "In Over Our Heads:Predatory Lending and Fraud in Manufactured Housing" 2/2002
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HB 1460 is a broad re-write of the statute governing the manufactured housing industry. Among the changes is a removal of the 5 day right of rescission for purchasers who borrow to buy their manufactured home.Background
The right of rescission was added in 2003 (HB 521(78))because of problems with high pressure sales.Additional Links
Consumers Union "In Over Our Heads:Predatory Lending and Fraud in Manufactured Housing" 2/2002
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