Liability Lien Security 
Green Building Law Update
JUNE 25, 2017
In the event of a default, the amount in default (but not the entire principal of the PACE loan) is a liability that is a property tax lien collected by the local government with the priority associated with other real property tax liens, so existing mortgage holder acknowledgment of a PACE loan is required.
Green Building Law Update
JULY 24, 2016
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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Green Building Law Update
JANUARY 24, 2016
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.
Green Building Law Update
SEPTEMBER 11, 2016
The concept is not new, but nationally including in Maryland, “residential” PACE programs were put on hold as a result of a directive in 2011 that Fannie Mae and Freddie Mac refrain from purchasing mortgage loans secured by properties with outstanding PACE obligations. Commercial PACE programs are still very new.
Construction Marketing
JULY 11, 2022
As an alternative to surety bonds, some licensing agencies allow contractors to put up the entire bond amount as security. Surety bonds do not protect you against liability. By contrast, if you have bad credit and a spotty history, you might be denied or have to pay a high percentage upfront of up to 10% to 15% to secure your bond.
Building Radar
JULY 30, 2024
Mechanics Lien or Bond Claims: The contractor’s deadline to file a mechanics lien or bond claim is also influenced by the date of substantial completion. Liability and Warranties The substantial completion date marks the expiration of certain liabilities and warranties.
Construction Marketing Ideas
MARCH 12, 2016
Secure your payment rights. In North Carolina, that means filing a Notice to Lien Agent as your work begins, informing suppliers of the identity of the lien agent, guarding against double payment liability through the Notice of Contract procedure, and enforcing your lien rights timely, when necessary.
Expert insights. Personalized for you.
136 
Let's personalize your content