How To Get Out Of A Pace Loan
Property Assessed Clean Energy (PACE) loans are an innovative way for homeowners to finance energy-efficient upgrades, but they come with their own set of challenges. If you find yourself needing to get out of a PACE loan, it’s important to understand your options and the steps involved. Summary PACE loans allow property owners to finance energy improvements through property tax assessments. While beneficial for some, they can become burdensome due to their long-term nature, higher interest rates, and impact on property transactions. This guide will walk you through the steps to get out of a PACE loan, providing detailed information and resources to help you make an informed decision. What is a PACE Loan? PACE loans are designed to help property owners finance energy efficiency, renewable energy, water conservation, and other improvements. The loan is repaid over time through a voluntary assessment on the property tax bill. These loans are available for residential, commercial, and ind...