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Pennsylvania
Related: About this forumLandowner discovers fracker put $500 million lien on his property, 3 banks refuse his refinancing
http://www.timesonline.com/news/energy/liens-could-be-obstacles-for-gas-leaseholders/article_55281616-2881-544a-9c9b-19b1f0d6a4e5.htmlExcerpt: "Garry Miller tried to refinance his home. The only problem? There was a $500 million lien, or line of credit, showing up on his property deed. I went to remortgage my house to get a lower rate and I wanted to buy a truck, Miller said. And when they did the title search, the lady from the credit union called me up and said, You need to come in and look at this. And I looked at it and said, $500,000? And she said, No, you better read it again. And it was a $500 million line of credit.
Miller had signed a natural gas lease with Chesapeake Energy in 2010 on about 12 acres of his land.
... the lien, Creighton said, is actually against the oil and gas rights, not the property itself. But Millers deed doesnt specify that.If you look at the lien, the way its stated it says its on my property, he said....Miller said he talked to several people from Chesapeake, but no one helped. And regarding his efforts to refinance, he also said he went to three different banks, all of which had the same answer to his refinancing request."
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Landowner discovers fracker put $500 million lien on his property, 3 banks refuse his refinancing (Original Post)
JPZenger
Jan 2014
OP
tazkcmo
(7,300 posts)1. Lie down with dogs
get up with fleas.
bluedigger
(17,086 posts)2. But look at all the money he saved in lawyer fees on the original contract.
femmocrat
(28,394 posts)3. Wow.
I keep hearing more and more horror stories about what the frackers are doing to gullible people who were so eager to sign. They sold their souls to the devil.