Fracking: A Risk to Home Owners April 20, 2012 : 6:21 PM

Mortgage lenders believe fracking is a risk to homeowners:

“When Rolling Stone wrote about the big fracking bubble, they drew comparisons to the false accounting practices that drove the recent financial crisis. But the links to financial trouble may be as real as they are metaphorical, as the State Employees Credit Union, one of North Carolina's major mortgage lenders, has just announced that fracking can represent a very real mortgage risk:”

“The standard Fannie Mae/Freddie Mac Deed of Trust document recorded for most real estate liens prohibits the homeowner from selling or transferring any part of the property during the term of the loan without obtaining prior written approval from an official of the financial institution holding the mortgage. This includes the oil, gas and minerals found on the property.”