Rush to Drill for Natural Gas Creates Mortgage Conflicts

NEWS TICKER

Video coverage of the Board of Chatham County (NC) Commissioners Meetings are available by using this link.

For continuing coverage of Randy Voller, Chair of the North Carolina State Democratic Party, is available by using this link.

Saturday, 17 December 2011 14:04

NEW YORK TIMES (October 19, 2011) By IAN URBINA … bankers and real estate executives, especially in New York, are starting to pay closer attention to the fine print and are raising provocative questions, such as: What happens if they lend money for a piece of land that ends up storing the equivalent of an Olympic-size swimming pool filled with toxic wastewater from drilling? Fearful of just such a possibility, some banks have become reluctant to grant mortgages on properties leased for gas drilling. At least eight local or national banks do not typically issue mortgages on such properties, lenders say.

Read more...

Quote this article on your site

To create link towards this article on your website,
copy and paste the text below in your page.

Preview :

Rush to Drill for Natural Gas Creates Mortgage Conflicts
Saturday, 17 December 2011
NEW YORK TIMES (October 19, 2011) By IAN URBINA … bankers and real estate executives, especially in New York, are starting to pay closer attention...

Chatham County (NC) Democratic Party - Official Site

< Prev		Next >