article thumbnail

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.

Finance 120
article thumbnail

constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. 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. May 21, 2009 in litigation , mechanics liens | Permalink.

Lien 40
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Idle Equipment not entitled to Lien in Missouri

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. 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.

Lien 40
article thumbnail

constructionattorneyblog: ILLINOIS APPELLATE COURT DEEMS.

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. The Illinois First District Appellate Court recently issued its opinion in the case of Bank of New York v. Jurado , which involved competing lien claims. 

article thumbnail

PACE Bill Due in Baltimore City

Green Building Law Update

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 consent to a PACE loan is required. Maryland is typical.

Baltimore 120
article thumbnail

constructionattorneyblog: Waivers of liens: fraud

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. 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.

Lien 40
article thumbnail

Watch for Bank Shield Laws in Dealing with Lenders

Construction Lawyer

His book, Legal Guide to AIA Documents, published by Aspen Publishing, is in its fifth edition. Watch for Bank Shield Laws in Dealing with Lenders. A developer found out the hard way about laws that shield banks. Thus, the bank won and the developer was left to deal with the subcontractors. Invalid URL. Recent Posts.

Banking 40