August 21, 2014

Fracking Boom Gives Banks Mortgage Headaches

Why Fracking Is a Problem for Banks
By Andy Peters, American Banker, November 12, 2013

An East Coast oil boom has promised potential riches to lucky landowners. But the oil rush may cause big headaches for some unlucky banks.

At least three institutions — Tompkins Financial (TMP) in Ithaca, N.Y., … Continue reading

NYPIRG Urges Cuomo to Reject dSGEIS Due to Conflicts of Interest

The New York Public Interest Research Group (NYPIRG) has sent a letter to New York State Governor Cuomo urging him to reject the Revised Draft Supplemental Generic Environmental Impact Statement (dSGEIS) due to a conflict of interest on the part of the consultants who worked on the socio-economic impact section. … Continue reading

You Have to See It to Believe It: What It’s Like to Have Fracking in Your Backyard

You Have to See It to Believe It: What It’s Like to Have Fracking in Your Backyard
Residents in industry-friendly West Virginia share their experiences, photos and videos. April 15, 2013

From Alternet, by Tara Lohan

Click here for complete article

This article was published in partnership with GlobalPossibilities.org.

Ed … Continue reading

Gas Drilling, Homeowners Don’t Mix

If gas drilling comes to the Southern Tier, homeowners have property-related effects to consider, whether they have already signed a gas lease or are still considering one
By Elisabeth N. Radow, PressConnects.com, Sept. 18, 2012

Elisabeth Radow is the managing attorney of Radow Law and chairs the New York State Continue reading

Mortgages for Drilling Properties May Face Hurdle

By Ian Urbina, New York Times

The Department of Agriculture is considering requiring an extensive environmental review before issuing mortgages to people who have leased their land for oil and gas drilling.

Last year more than 140,000 families, many of them with low incomes and living in rural areas, received … Continue reading

Promises made, but not kept, and it’s all legal

By Joshua Schneyer and Brian Grow, Reuters

TRAVERSE CITY, Michigan ­ Late in the summer of 2010, hundreds of farmers in northern Michigan were fuming.

All had signed leases with local brokers permitting drillers to tap natural gas and oil beneath their land. All were demanding thousands of dollars in … Continue reading

Home Mortgages, Homeowner Liability Affected by Gas Drilling

New York State Bar Association Journal
November/December 2011, Vol. 83, No. 9, lead article

“. . . issues not often discussed, such as the owner’s potential liability and the continued viability of the mortgage.”

“Residential fracking carries heavy industrial risks, and the ripple effects could be tremendous. Homeowners can be … Continue reading

Rush to Drill for Natural Gas Creates Conflicts With Mortgages

By Ian Urbina, New York Times

As natural gas drilling has spread across the country, energy industry representatives have sat down at kitchen tables in states like Texas, Pennsylvania and New York to offer homeowners leases that give companies the right to drill on their land.

And over the past … Continue reading

Houses for Shale

New mortgages unavailable for properties with gas drilling leases
By Linda Fields (Pike County Courier)

NORTHEAST Pa — Property owners may make money from leasing to Marcellus Shale gas drillers, and they may also find their property can’t be financed for a new mortgage.

If gas is extracted and sold, … Continue reading