You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #60: Fracking, Mortgages and Insurance [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
Home » Discuss » Latest Breaking News Donate to DU
Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 09:26 AM
Response to Original message
60. Fracking, Mortgages and Insurance

Homeowners who sign gas leases to permit hydraulic fracturing for shale gas in Maryland, New York, West Virginia, Pennsylvania and other states may be defaulting on their mortgages, risking loss of title insurance and homeowners' insurance coverage, and preventing future buyers from obtaining title insurance or mortgage loans on affected property. These are the consequences described by attorney Elizabeth Radow in an article in the New York State Bar Journal....

The story has also been covered in the New York Times stories...

Several members of Congress have asked mortgage regulators including FHA and FHFA, the overseer of Fannie Mae and Freddie Mac, to determine how many families may unwittingly have breached their mortgage terms, and presumably what can be done to balance the risks to lenders with the potentially harsh consequences for families. While homeowners may be caught in the middle, the potential dispute may bring large financial institutions and the energy industry face to face in a battle over the genuine risks of fracking, on the one hand, and the validity of somewhat obscure mortgage contract terms, on the other.

links at source
Printer Friendly | Permalink | Reply | Top

Home » Discuss » Latest Breaking News Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC