A line of credit on a primary residence homestead property in Texas for the sole purpose of obtaining cash (including debt consolidation) or refinancing a prior Texas (a)(6) lien. (bankofamerica.com)
This personal bankruptcy story was posted on the internet in February of 2011 as comments in a bankruptcy discussion: «Judgment against homestead owner — Lien on excess value of homestead property. (bankruptcyhome.com)
If NY has a homestead act and you do not homestead the property as a primary residence, then your property taxes will go up much faster than normal. (biggerpockets.com)