Martha's Vineyard Land Bank Commission
 
 
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Frequently Asked Questions (FAQs)
Why is there a lien on my property?
I paid a Land Bank fee, can I take a deduction on my tax return?
What happens to the lien if I want to refinance?
 
What happens to the lien if I want to refinance?

First-time home buyers who would like to refinance their property are not required to pay off the land bank’s lien prior to doing so. Land bank liens are automatically subordinated to mortgage financing. Language to this effect is printed directly in the body of the lien document, so as to be clear to creditors. The land bank’s lien should not factor into your refinancing in any way.