If you're refinancing your home, you might be told that your UCC-1 (Uniform Commercial Code-1) filing needs to be temporarily terminated. We understand that this is a necessary step in the refinancing process as a Palmetto LightReach customer.
What is a UCC-1 Filing?
A UCC-1 filing is a public notice that protects a lenders' interest in your solar equipment, not your home. It also prevents the solar system from being seized in the event of foreclosure or a property sale.
Here's what you need to know about UCC-1 filings:
It doesn't impact your home's sale or refinancing.
It is is not a lien on your home.
It can be released or paused upon request.
How to Request a Temporary UCC-1 Termination
To ensure a smooth refinancing process, we require at least 45 days' advance notice of your closing date. To process your request, you will need to provide the following:
Proof of Refinancing: This can be a copy of your loan application or similar documentation.
Escrow Company Confirmation (if applicable): If the request comes from your escrow company, we'll need your direct confirmation that you are indeed working with them.
Once we have this information, our team can proceed with temporarily releasing your UCC-1 filing.
Ready to request a temporary UCC-1 termination?