Landowner discovers fracker put $500 million lien on his property, 3 banks refuse his refinancing

[JPZenger]

http://www.timesonline.com/news/energy/liens-could-be-obstacles-for-gas-leaseholders/article_55281616-2881-544a-9c9b-19b1f0d6a4e5.html

Excerpt: "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 Miller’s deed doesn’t specify that.“If you look at the lien, the way it’s stated … it says it’s 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."

[tazkcmo]

1. Lie down with dogs

get up with fleas.

[bluedigger]

2. But look at all the money he saved in lawyer fees on the original contract.

[femmocrat]

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.