Tahoe real estate: Another view on PACE financing (opinion) | SierraSun.com

Tahoe real estate: Another view on PACE financing (opinion)

Robert Bendorf
Special to the Sun-Bonanza

A recent opinion article explored the pluses and minuses of PACE financing for homeowners (“Tahoe real estate: What to know about the PACE Clean Energy Program”). While I appreciate the word of caution, I’d like to share my perspective on PACE financing.

First, I should be clear that I can’t speak to the services and benefits provided by all PACE financing providers. The provider that I work with, the HERO Program, provides extensive consumer protections that go beyond those found in more traditional forms of financing, like credit cards or home equity lines of credit.

Contractors that offer HERO financing must be licensed and have a track record and do not receive any payment until the work is completed to the satisfaction of the homeowner.

Second, HERO is willing and able to move the PACE assessment to the secondary position to the mortgage, meaning that there is a way to work around concerns from mortgage companies if one does decide to sell their home before the assessment is paid off.

Homeowners should conduct careful research before making large investments in their homes. PACE may not work for all, but the program is working as the CA legislature intended: improving home-efficiency, lowering utility bills, and providing economic and environmental benefits to local communities.

Robert Bendorf is Community Development Manager for the Northern California HERO Program. Email him at rbendorf@heroprogram.com.

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