Saturday, August 13, 2022 


Is your HERO loan a VILLIAN?

If you decided to install an energy efficient home improvements, like solar panels, did the HERO loan you were offered end up being a VILLIAN?

Maybe the salesperson didn't fully explain to you how these type of loans work, and now your property taxes have doubled, maybe even tripled and your mortgage payments have soared?

HERO stands for Home Energy Renovation Opportunity. Other programs that operate in a similar way are also called PACE, CaliforniaFIRST etc. These are typically very high interest rate loans (7-10%) that add a line item to your property taxes. This type of loan is repaid through your property taxes, and also adds a lien to your home. Your home is held hostage, and the only way to refinance or sell it is to pay this loan off.

If you already took out one of these types of loans, please call me today 949-528-3988, so that I can help get this loan paid off for you and save you a LOT of money every month! The good news is that paying off these energy efficient loans is considered a rate/term refinance, as long as balance is less than 15% of your appraised value! And I've seen some of these refinances done without even requiring an appraisal!

I'm here to help! Let me be your HERO and save you a lot of money every month on your home!