Events 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.
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Levelset
JUNE 16, 2022
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. Instead, general contractors on public construction projects have to secure a payment bond prior to the start of work.
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.
Levelset
AUGUST 16, 2022
Here are some factors you should consider to increase your chances of success with a potential project and your ability to secure a construction bond. In the event of issues, access to additional sources of liquidity, like a bank line or personal funds, is also important. Scope of work compared with past projects. Learn More.
Contractor Bookkeeping
JUNE 20, 2014
We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Check with your construction attorney and your liability insurance agent to make certain you are covered. in done correctly. Or The Hard Way.
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