miami florida: New rules issued over PACE program - 03/14/19 11:38 AM
The Consumer Financial Protection Financial Bureau (CFPB) plans to create new rules for the Property Assessed Clean Energy program (PACE), which will allow selected homeowners to obtain financing to better their home’s energy efficiency.
Programs like PACE will enable energy financing to gain a higher priority status over typical home mortgages, all borrowers will be able to repay their loans as part of their property tax bill.
The PACE “Advance Notice of Proposed Rule-making” will act as an “Ability-to-Repay” that would emulate the current mortgage lending system, requiring lenders to make a “good faith” determination on the borrowers capacity for repaying before making … (0 comments)