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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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You Risk Paying Twice When Sub-Contractors Don’t Pay Their Bills

Wolgast Corporation

Liens Can Wreak Havoc on Funding. On top of that, that they expect you, the owner, to guarantee to the Bank and the Title Company that the project will be lien-free during construction. These types of requests are common place in today’s world when an owner finances the construction of a building. Why should you care?

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HUD Jumpstarts PACE Financing for Homes

Green Building Law Update

Department of Housing and Urban Development and the Department of Veterans Affairs released new guidance, changing their previous positions, now widely allowing residential Property Assessed Clean Energy (PACE) financing. a lien) that is superior to the FHA-insured mortgage for delinquent regularly scheduled PACE special assessment payments.

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Restoration: How to Manage Cash Flow While Waiting for an Insurance Check

Levelset

Meanwhile, you’re incurring expenses that drain your bank account, like purchasing materials and paying employees. To cover these expenses, restoration contractors need to manage their cash flow to ensure they have enough money in the bank — especially when the insurance company is dragging their feet. Protect your lien rights.

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How a Construction-to-Permanent Loan Impacts Contractors & Lenders

Levelset

When a property owner wants to finance the construction of a new building, they typically have to obtain two loans: one loan for the mortgage on the completed home, and another for the land purchase and construction expenditures. There are deadlines for invoice submissions for a monthly bank withdrawal. Failing to protect lien rights.

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5 Ways to Improve Cash Flow in Your Construction Business

Levelset

Protect your lien rights. Mechanics lien rights are a tool to help the construction industry get paid for its work. In many states, preliminary notices are required to establish the right to file a lien, if needed, for nonpayment. Use materials financing to have more cash on hand. Get materials now. Learn More.

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PACE Programs are Stepping Up the Pace

Green Building Law Update

PACE state enabling statutes generally authorize local governments to work with private sector lenders to provide upfront low interest financing to property owners for qualified projects (e.g., HVAC system upgrades, photovoltaic systems, cool roofs, etc.), There were not similar concerns expressed about commercial loans.

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