Some financial institutions have begun denying mortgages for properties where mineral rights have been severed, sometimes even declaring the buyer in default if the encumbrance comes to light after the home financing process is already under way. One insurance company has just announced that it will no longer cover fracking-related damages.As homeowners gain awareness of this phenomenon, they get angry. In some cases, entire communities are up in arms. Their ire turns not only toward the homebuilders, but also toward the fracking companies that lease the land, including ConocoPhilips (NYSE: COP ) and Anadarko Petroleum (NYSE: APC ) . Communities feel misled, leading them to mistrust claims about frackings safety.
Posted on: Thu, 24 Oct 2013 11:08:43 +0000