What is the HERO Program and how does it affect Real Estate?
Have you heard about the "HERO Program" and wondering what it is all about? Are you thinking of some new improvements to spruce up the home but worried about cost, then this program is something you might want to consider. HERO is an acronym that stands for: Home Energy Renovation Opportunity. It is the #1 energy efficiency financing program in United States. HERO partners with local governments to make energy efficient, water efficient and renewable energy products more affordable to homeowners. HERO financing is paid through the homeowners property taxes. The repayment is included in your property tax bill. You will see a line item titled HERO Financing on your property tax bill and if property taxes are impounded your lender will adjust your monthly payment to include the amount due for HERO financing. Eligibility criteria includes (terms apply): Mortgage related debt must not exceed 90% of the value of the property. Mortgage pay...