can a filed NOC that is with a submitted permit pack be rescinded and then reinstated for the homeowner who is wishing to re-finance and is not able due to the active NOC?
1 reply
Jul 21, 2021
The lender wants the first position on its claim on the property. The NOC probably needs to be terminated, which is done according to the statute. This knocks out the lien rights of anyone on the job so there are very specific notices that need to be given for the termination. You should get with your contractor as soon as possible to discuss this. This is quite common but the process is a bit complicated.