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   New Braunfels Herald-Zeitung (Newspaper) - October 4, 1994, New Braunfels, Texas                                Federal court wont let Texas enforce homestead exemption law Tuesday Oct HeraldZeitung 7 By RICHARD CARELLI Associated Press Writer WASHINGTON AP The Supreme Court today refused to let Texas enforce its state homestead exemption law barring some types of liens or mortgages on peoples pri mary residences But the ruling should have no immediate effect due to a new federal law The justices without comment let stand a ruling that said the state law is preempted by federal regulation of the savings and loan industry However a provision in the new interstate banking law signed by Pres ident Clinton last week rendered the federal court decision toothless Texas Rep Henry B Gonzalez a San Antonio Democrat and chairman of the House Banking Committee added the provision overturning the 5th Circuit Court of Appeals deci sion which had sought to give Texans the opportunity to obtain home equity loans The state law at issue protects with few exceptions the foreclosure and forced sale of property designated as a homestead The exceptions are for those mortgages or liens created to purchase build improvements or pay property taxes on the home The exemption cannot be waived But the Texas law has certain draw backs for homeowners who cannot obtain homeequity loans for such pur poses as a childs education or to sup plement retirement income Under the law the alternative for Texas homeowners is obtaining unse cured loans Such loans generally are more expensive and homeowners cannot deduct those interest payments from their federal income taxes First Gibraltar Bank and Beneficial Texas challenged the Texas law over two types of homesecured loans it barred They are a reverse annuity mortgage RAM and the line of credit conversion A RAM provides for periodic pay ments from the lender to the borrower with the loan being secured by the bor rowers equity in a home The line of credit conversion mort gage is a type of RAM in which the lender is given a line of credit and may receive payments on demand rather than regularly scheduled payments The two that challenged the Texas law argued that federal laws allowing such lending should trump the states prohibition A federal judge ruled against the thrifts but the 5th Circuit Court of Appeals last April reversed that rul ing The appeals court said two federal laws the Home Owners Loan Act and the Parity Act allow the federal Office of Thrift Supervision to preempt the Texas law In the appeal acted on today lawyers for the state said the appeals court rul ing gave too much deference to the Office of Thrift Supervisions inter pretation of the two federal laws The April ruling threatens to alter the bal ance of federalstate the appeal said The Texas appeal was supported in a fricndofthecourt brief submitted by three other states Idaho Indiana and Louisiana Most Texas regions experience employment growth by 1993 Reglbn mployment figures show Texas jobs increased an average of percent each year from 1983 to 1993 Jobs In the Central Texas region grew the most percent followed closely by the Upper Rio Grande percent Fewer jobs were available in 3 Metroplex Northwest and West of the state that were more dependent on the oil and gas industry The number of jobs in mining which Includes oil and gas exploration and production declined statewide Most of the state saw the largest percentage increase in the service industry as well as in agriculture forestry and fisheries Average annual percent change 19831993 2 Northwest Texas 4 Upper East Texas 5 West Texas 6 Central Texas 7 Southeast Texas Economic regions 8 Upper Rio Grande 9 South Texas 10 Gulf Coast Employment by Industry Agriculture forestry fisheries Mining Construction Manufacturing Transportation communications public Utilities Wholesale trade Retail trade Finance Insurance real estate Services Government Total Region Average annual percent change 19831993 North Upper Metro West Centra South Plains Texas plex Texas Texas Texas Texas Grande Texas Coast 39 State Avg SOURCES John Sharp Texas Comptroller of Public Accounts and Texas Employment Commission Locally 6259144 The Marketplace Metro 6060846 Advertising Deadlines All display ads 3 pm two days prior to publication All line ads Tuesday thru Friday publications is 1 pm day before Sunday publication is 1 pm Friday Office Hours Monday thru Friday 8 am to pm c Advertising Policy Braunfels HeraldZeitung will not be responsible for more than one incorrect insertion We will extend your advertisement only one time to make good on the incorrect insertion Advertisers are advised to check the first insertion of their ad for possible errors Upon cancellation of prepaid advertisements no refunds or credits will be issued Classified user guide Antique For Automobile Boats Building Business Commercial Property for Rent Commercial Property for Cards of Car tor for Classification Index for Farm Farmers for for Free Give Garage Heavy Help Homes tor Homes lor Hunting Investment Property for Jobs Lake Property for Lost Lots Acreage for Lots Acreage for Misc for Mobile Homes for Mobile Homes lor Mobile Home Sites for Mobile Home Sites for Office Space for For Portable Precut Real Estate Real Estate Resort Property for Restaurant River Property for Roommate Rooms For Storage Space for Wanted to Wanted to WE NEED OLD PICTURES for New Braunfels and Comal County Texas Pictorial r History Book If you have any pictures of New Braunfels and Comal County Texas that can be identified to have been taken from the to present we would like for you to loan them to the New Braunfels HeraldZeitung for printing in the history book in conjunc tion with New Braunfels sesquicentennial Please mail in your photos with information attached who where when and what is going Or drop by the New Braunfels HeraldZeitung and fill out a photo information form for pictures to be submitted Be sure to place your name address and phone number on the back of each photo so it can be returned after the book is completed If you have any questions concerning submitting photos just call the New Braunfels HeraldZeitung at 2106259144 SAVE First 500 to order receives discount After publication price tax NAME You need not purchase a book to have your photographs considered for publication in this book Please enter my order for A Pictorial History of New Braunfels and Comal County Texas STANDARD EDITION t tax copyfe LIMITED EDITION 9 tax Q I am enclosing payment in full Q Balance due when book is picked up or before shipment D Please ship my booWs to the address at right I have enclosed an additional for each book to be shipped ADDRESS CITY STATE ZIP MAUL TO New Braunfels HeraldZeitung 707 Landa Street New Braunfels Texas 781311328 Phone 2106259144 reached like never before YOUR DONATION TO UNITED WAY MADE A LASTING IMPACT IN THE LIVES OF THE NEEDY AND IN THE HOPES OF YOUR COMMUNITY THANK YOU FOR BEING ONE OF OUR HELPING HANDS Reaching those who need help Touching us all United RECYCLES Dr Mitchell J Sacco is pleased to announce the association of Dr Edward M Wuensch for the practice of general dentistry at 457 Landa Ste I New Braunfels Texas 6254313 Our office schedule has been expanded for our patients convenience James Bartay Practice of Family Medicine 1 1 years experience Accepting New Patients Medicare Medicaid and Private Pay Staff Privileges at McKenna Hospital Phone 6200956 457 Landa New Braunfels Tx INTERNAL MEDICINE Patients Welcome Medicare Assignment Ace JVo Referral Necessary 264 West MiU St 210 6292040 New Braunfels TX FALL AND CEDAR ALLERGY SUFFERERS Do you have a runpy riossj sneezing or Itchy eyes during fall or winter If so we need volunteers for allergy research studies Involving Investigations drugs Skin tests monitoring by a Board Certified Allergist and lab tests provided at no cost Participants will be paid up to AfHMA Do you take asthma medication either daily or occasionally If so you may be eligible for an asthma research study using an Investlgattonal medication Lab testing physician monitoring provided at no charge You will also be paid up to 6299036 705A Landa CENTRAL TEXAS HEALTH RESEARCH   

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