Tuesday, February 23, 2016

Quoted in an article in Comstock's Magazine about the Property Assessed Clean Energy (PACE) loan program...buyer beware!

A few months ago I wrote a blog post about the potential minefield involving the Property Assessed Clean Energy (PACE) loan program. This month, Comstock's Magazine published an article about this and quoted me. The PACE program has its place, but property owners need to know that NO, it is not guaranteed that you can transfer these loans to a new owner (and what home buyer would want to pay more for a home, and assume a loan for the upgrades that increased its value?). And NO, it may not be possible to refinance your home with a PACE loan attached to it. The contractors I have spoken to about this program sell it as "free money." Nothing is free...buyer beware! Here is a link to the full article in Comstock's Magazine.

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