by Stacey May
on Monday, February 22nd, 2010 at 5:21pm.
It's been nearly 8 months since the $8,000 cap was removed from FHA's Energy Efficient Mortgage (EEM) and it's high time banks start taking notice of this dynamic financing tool! To say that lenders have been slow to adopt the EEM's new guidelines would be a massive understatement. While cities, consultants and venture capitalists race to put together AB811 type programs for residents, banks could adopt the new EEM guidelines and enable their costumers to both purchase and refinance real estate and obtain extra funds that can be spent on energy efficiency improvements.
This Saturday, February 27th of 2010 I'll be doing the 1st of many workshops about EEMS. With my friend Michael McNeely of Wells Fargo at The Ecology Center in San Juan Capistrano we'll explain the nuts and bolts of both Energy Efficient Mortgages and the more widely understood 203k Renovation loans. Our audience will also learn some excellent green improvement tips and pitfalls, but most importantly how to best utilize these unique loans to maximize their return on investment (ROI) and protect them against rising energy costs and the nasty inflation we're sure to have. More info about attending this workshop...