In addition to the above questions, could anyone please advise a good attorney and collection agency in College Station, TX?

Credit Unions can be great but you're at the mercy of their individual guidlelines and old school Underwriting "gut checks".We(Lower.com), offer HELOCs on investment properties and 2nd homes, we go off of the "Agency Definition" of a 2nd home which is "occupied for some portion of the year".

This doesn't seem correct to me as the way I understand how collections works is the collection agency now owns that debt. 

In either case a collection agency won't help.  

Talk to Kris over at Anderson Agency. (812) 887-0443‬We use him for all of our insurance needs.

Abernathy Insurance Agency is Arcadia-based and was highly recommended by a commercial broker.

@Matthew Finamore - Reach out to Steven Turner with Morris Insurance Agency, LLC.

For nearly 40 years the courts have been of the opinion that they should defer to a federal agency / regulator and rely on their interpretation of a law, if it is ambiguous or unclear.

bone up on Agency and law .. that's 50% or better of the test.also you will have a bunch of practice questions memorize answers.. many times they are verbatim.Getting the license is just like getting a license to fly.. once you have it now you have a license to learn the craft.. the tests do not teach you to fly and they don't teach you how to be an agent.

A more general observation on this topic, intended for you and any future readers - find out from the agency that has control over this area exactly what it takes to LOSE grandfathered status.