The time to act is now if you are in Texas if you support the bill prohibiting large incentives to buyers from builders who require mortgage commitments in order to secure those incentives.

House Bill #3798

 A BILL TO BE ENTITLED AN ACT
 Relating to certain sellers of homes offering a
 benefit contingent on the use of a specific mortgage
 lender.

 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF
 TEXAS:

 SECTION 1.  Subchapter D, Chapter 35, Business &
 Commerce Code, is amended by adding Section 35.65 to
 read as follows:

 Sec. 35.65.  SELLER PROHIBITED FROM MAKING BENEFITl
 CONTINGENT ON USE OF MORTGAGE LENDER.  (a)  A person
 who builds and sells a single-family residence may
 not
 offer or provide a benefit to a potential purchaser
 of
 the residence as consideration for the purchaser's
 agreement to use a mortgage lender specified by the
 person for a loan to purchase the residence.

 (b)  A person who violates Subsection (a) is liable
 to
 the purchaser for:

 (1)  any damages arising from the violation; and

 (2)  reasonable attorney's fees and costs.

 (c)  A purchaser may not waive the right to sue
 under
 Subsection (b).

 SECTION 2.  This Act applies only to the sale of a
 single-family residence closed on or after the
 effective date of this Act.

 SECTION 3.  This Act takes effect September 1, 2007.

If you support this bill to protect consumers from builder mortgage companies who prey on buyers wanting "UPGRADES" at the cost of significantly higher mortgage rates, it's time to contact your representatives!

http://www.capitol.state.tx.us/resources/FAQ.aspx#2