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Does a Lien Affect Your Credit Score?

Levelset

If you receive a notice that a lien has been filed on your property, you may wonder how it will affect your credit score and your ability to borrow money or get credit. Mechanics liens are different from other collection instruments, so they are treated differently when it comes to reporting on your credit history. What is a lien?

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Commercial Debt Collection – How Do I Collect When A Company Owes Me Money?

Construction Law Monitor

The Fair Debt Collection Practices Act protects the consumer, not businesses. Most business think that when an account is overdue, then they call up a debt collection agency and the debt will be collected or its deemed bad debt. You have a pre-debt fact gathering and document filing stage, as the first phase.

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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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constructionattorneyblog: Subcontractor's Mechanics lien allowed.

Construction Lawyer

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. Funds subject to a lien waiver are required to be held by the owner in trust for the subcontractor. May 21, 2009 in litigation , mechanics liens | Permalink.

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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.

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4 Factors Underwriters Consider When Issuing a Construction Bond

Levelset

The surety is also likely to explore a contractor’s payment history on past projects — an inability to make on-time payments to subcontractors and suppliers can increase the risk of mechanics liens or bond claims. . Next, subtract the sum of your accounts payable, short-term debts owed, and over-billings. Learn More.

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constructionattorneyblog: Waivers of liens: fraud

Construction Lawyer

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. Listed below are links to weblogs that reference Waivers of liens: fraud : Recent Posts.

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