Solar panels: a source of green energy and (to a lesser extent) liens

Installing solar panels on your home can be a great way to save on bills and reduce your reliance on nonrenewable energy sources. However, purchasing a solar system and having it installed can be a large upfront expense, so many people choose to lease or finance their panels to reduce or eliminate startup costs. 

You should be aware of the potential implications of a solar system lease or financing agreement before you sign a contract. The leasing company may put a lien or Uniform Commercial Code financing statement on your home in order to secure their investment. This may affect your ability to refinance or sell your home, as the lender may require the lien to be removed or satisfied, and the outstanding payments may impact your debt-to-income (DTI) ratio.

Of course, these issues are not insurmountable and can be addressed with the help of Levine Law. If you're thinking of getting solar panels installed, come see us before you sign. www.levinelawma.com