pace program: PACE Programs Getting a Fooothold in California - Buyers Beware
- 11/04/13 05:51 AM
The PACE Program (Property Assessed Clean Energy) was first developed in Berkeley, California in 2008. It's intent was to help Berkeley achieve the Bay Area's climate goals. Since 2008, 30 states and the District of Columbia have passed laws to allow for PACE financing programs. The program hit a substantial roadblock when Federal Housing Finance Agency along with Fannie Mae and Freddie Mac declined to back mortgages with PACE liens on them. The reasoning was that these types of loans become senior liens over any other liens on the property. The intent of these types of loans is admirable. They have been created … (1 comments)
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Paula Swayne
Realtor-Land Park, East Sac & Curtis Park -Dunniga
The PACE Program (Property Assessed Clean Energy) was first developed in Berkeley, California in 2008. It's intent was to help Berkeley achieve the Bay Area's climate goals. Since 2008, 30 states and the District of Columbia have passed laws to allow for PACE financing programs.
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