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

Construction Estimating

Chianelli Estimating

They do not have the burden of carrying costs like workmen’s compensation, general liability insurance, unemployment related costs, vacations or sick days, etc. Many times contracts are awarded to the lowest bidder, only to find that the contractor cannot perform the work or sustain the additional costs not allowed for in the bid.

professionals

Sign Up for our Newsletter

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

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.

Baltimore 120
article thumbnail

constructionattorneyblog: Louisiana does not give res judicata effect.

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. After a hearing, the district court sustained the motion and the Greers appealed. ILLINOIS APPELLATE COURT DEEMS MECHANICS LIEN COUNTERCLAIM UNTIMELY. Unlimited liability for designers and contractors. mechanics liens. Copyright Notice. Disclaimer.

article thumbnail

PACE Programs are Stepping Up the Pace

Green Building Law Update

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.

Lien 120
article thumbnail

How to Get Paid on California Public Projects

Levelset

Contractors on public projects aren’t allowed to file mechanics liens when payment problems arise, as the federal government (and most states) explicitly prohibits private entities from claiming an interest in public property. Learn more about California lien law : California Mechanics Lien Rules & FAQs. Alex Benarroche.

article thumbnail

How to Start a Painting Business: 9 Keys to Growth & Success

Levelset

You’ll need a name for your business entity and a business structure — often a sole proprietorship or limited liability company (LLC). To grow your painting business sustainably, it’s not enough to be a Master Painter, you need to be a master of your cash flow. We have a contractor licensing guide for every state you can refer to.