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HERO Program update: Disclosure statement implemented modeled after the real estate ‘know before you owe’ requirement to all Property Assesses Clean Energy providers  By ODEST RILEY, Contributing Writer In a recent column, I outlined some of the

HERO Program update: Disclosure statement implemented modeled after the real estate ‘know before you owe’ requirement to all Property Assesses Clean Energy providers

 By ODEST RILEY, Contributing Writer

In a recent column, I outlined some of the possible hindrances of the HERO Program for certain real estate clientele. I am happy to report some updates regarding the HERO program.

Odest Riley

Odest Riley

After the initial information was published Senior Manager Chris Peterson contacted me to inform me of the changes the program had undergone.  In addition to a new disclosure statement that is modeled after the “know before you owe,” they have been working closely with the California Association of Realtors (C.A.R.) leadership to amend AB 2693 to include this type of disclosure as a requirement to all Property Assesses Clean Energy (PACE) providers. It appears the best is yet to come for the HERO Program, with future plans to call all applicants before they sign their contracts to confirm terms.

We believe this is the way to protect the industry from less than favorable players and make sure the consumers are protected. It is important that our clients be informed, and fully understand our program and how it works. We believe calling each client before signing is a great way to solve the issue of uninformed/misinformed clients.

It appears that the HERO Program team is hard at work, developing more refined standards to improve their program and aid in the consistency in the secondary market. They believe this is a big deal for their clients who are looking to refinance or sell their property without paying off the assessment.

While I still believe that this program may not be for everyone I do believe it is worth a look. I encourage those interested in doing their due diligence and researching the program to see if it is best for you.

As always at WLB Financial, we are here to assist you with all of your real estate and mortgage needs.  From buying and selling to refinancing your home, we can help you along. Our goal and dream are to teach people how to get in a position to be financially free. With hard work and endurance, you can get there.

Odest T. Riley, Jr., is a licensed real estate agent and president of WLM Financial in Inglewood. Reach him at (310) 905-7421, by e-mail: odest@wlmfinancial, or by snail mail, 111 N. La Brea Ave., No. 406-B, Inglewood, CA 90301.

 

 

 

 

Compton Herald is a digital news publication providing clear, fair and current news, information and commentary about Compton, the Los Angeles metropolitan area, Los Angeles County, California, and the world.

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