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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

The concept is not new, but nationally, residential PACE programs generally have been put on hold or foregone as a result of concerns of HUD and the Federal Home Loan Banks, that issued a directive in February 2011 to refrain from purchasing mortgage loans secured by properties with outstanding first lien PACE obligations.

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PACE Programs are Stepping Up the Pace

Green Building Law Update

In the event of a default, the liability is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder consent is required. There were not similar concerns expressed about commercial loans. Commercial PACE programs are still very new.

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constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. « Liability for green design | Main. Subcontractors Mechanics lien allowed where bank seized generals funds. 107108 (May 21, 2009), has ruled in favor of the subcontractor in enforcing a mechanics lien. Copyright Notice. Disclaimer. University of St.

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constructionattorneyblog: Waivers of liens: fraud

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. Waivers of liens: fraud. The Bankruptcy Court for the Northern District of Illinois recently ruled that a contractor who falsified waivers of lien engaged in fraudulent conduct and his debt to the bank was non-dischargeable. mechanics liens. Disclaimer.

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constructionattorneyblog: Liability for green design

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. Subcontractors Mechanics lien allowed where bank seized generals funds » May 20, 2009. Liability for green design. Gary Cole has written an interesting blog entry about designers' liability for green projects here:  [link]. mechanics liens.

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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

Both retention accounts are shown as current assets and current liabilities, respectively. Plus, not recording retention payable leads to the understating of a company’s liabilities. Debit Credit Bank or cash $90,000 Retention receivable $90,000. Debit Credit Bank or cash $10,000 Retention receivable $10,000.

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Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. Idle Equipment not entitled to Lien in Missouri. A Missouri court has affirmed a trial court ruling in favor of a lien claimant, but at an amount reduced by the trial court to reflect the value of the idle time for the equipment. mechanics liens. Copyright Notice.

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