BEDFORD HILLS, NY (WCBS 880) – Homeowners seeking dollars for clean energy and efficiency improvements through property tax assessments may find such programs unavailable.
WCBS 880’s Paul Murnane On The Story
That’s thanks to what Rep. Nan Hayworth (R-New York) sees as an overreach by the federal overseers of Fannie Mae and Freddie Mac.
“They claim that it creates obligation, a debt obligation, that may jeopardize recovery in case of a foreclosure,” she said Tuesday.
Hayworth says the data shows that homeowners with such assessments default less often.
She’s backing legislation that would open up federally backed to such PACE, or Property Assessed Clean Energy, programs.
“We really ought to be seeing more PACE loans,” she said.
Supporters say these are paid for by government bonds, but homeowners repay the debt.
They say town budgets and credit ratings are not affected.
Do you think Hayworth’s plan is a good one? Sound off in the comments section below!