Originally Published in the ECOreport
By Roy L Hales
November 26, 2014 (San Diego)--It has been nine months since California approved a $10 million reserve fund, to reimburse mortgage holders if homeowners with Property Assessed Clean Energy (PACE) default. (The residential program has been moving in slow motion since 2010, when, concerned about the priority PACE loans had over mortgages, the Federal Housing Finance Agency ordered the government-sponsored enterprises to not underwrite mortgages for homes with PACE loans.)
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