How Fracking Threatens the Health of the Mortgage Industry
One
fact ought to tell you all you need to know about the risks faced by
homeowners signing leases for natural gas drilling on their property:
Wells Fargo & Company, both the largest home mortgage lender in the
United States and a major lender to the country's second largest
producer of natural gas, Chesapeake Energy Corp., refuses to make home
loans for properties encumbered with natural gas drilling leases.This
salient fact comes from an article (PDF) written for the New York State
Bar Association Journal by attorney Elisabeth N. Radow. Written…Read more...
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