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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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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. The guidance describes it as, the property may only become subject to an enforceable claim (i.e.,

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

Levelset

However, if the insurance company doesn’t pay, denies the claim, or adjusts it down, then the property owner is responsible for paying for the restoration work. Finance job costs for longer payment cycles. Material vendors often provide this type of free financing in order to attract customers. Protect your lien rights.

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How to Get Paid on New Jersey Public Projects

Levelset

When payment problems come up, contractors on public projects can’t turn to the mechanics lien for the solution — both the federal and state governments prohibit private companies from gaining interest in public property. New Jersey bond claim laws & liens on contract funds. Preliminary notice requirements.

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How To Negotiate A Higher Credit Limit With Your Building Material Supplier

Levelset

Levelset’s Contractor Profiles provide information on a contractor’s payment history, lien claims, and reviews from other contractors and suppliers. Another option is to give the vendor a copy of your lien policy , which shows what actions you will take to collect payments from your customers. Get more trade preferences.

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Who Gets Priority -- The Constructor or Construction Lender?

Construction Dive

The property secures the construction loan that finances the project. The property also serves as security, through mechanic’s liens, for contractor payment. The timing is easy enough to establish with regard to the lien or deed of trust securing the construction loan. Hence, the “first shovel” rule.

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What is PACE Financing and Is It Doomed?

Construction Law Monitor

Started in the green revolution’s holy land, Berkley, California, PACE financing is shorthand for Property-Assessed Clean Energy Financing ( Wikipedia entry ). All was going very well for PACE Financing. The PACE Financing Programs has a lot to do with construction and construction law. And they may be right.

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