Ian M. Larson


This Law Summary analyzes and comments upon the legal arguments put forth by supporters and critics of PACE liens in the wake of the July 2010 disputes. Part H discusses the origins of PACE in 2008 and its rapid expansion across the United States, paying particular attention to the passage of PACE legislation in Missouri. Part III analyzes the escalating dispute between PACE supporters and the federal mortgage lenders who oppose it, commenting upon the legal arguments articulated by both sides. Part IV proposes a resolution to the conflict that provides a more secure position for federal mortgage groups while still allowing PACE to continue. This Law Summary concludes that while federal mortgage groups overreacted to PACE's potential dangers by unilaterally halting the programs, their substantive concerns are legitimate and both parties would be well-served by resuming negotiations so that PACE lending can continue providing a benefit to worthy borrowers.

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