The following items are concerns that I have identified and have been able to get an answer to yet. I am sure I will be adding to this list as we go along. As I get answers to these and other concerns I will post the resolution here, and make the adjustments in the appropriate sections.
| Potential Issues I have not received a satisfactory answer on yet. | Why this is an issue? | What I have done so far to try to get this answered. |
| Integrating the utility company rebates in situations where the EEM, Full 203K, or Streamline 203K is also solving property compliance issues like broken windows or missing HVAC units. | This has always been a great way to address these types of issues on Bank Owned or Short-Sale houses. The HERS II required for an EEM allows “Default Tables” to be utilized to determine the estimated efficiency for these missing items. It is my understanding that the Whole-Home Assessment that is required for the rebates will not allow these estimates which can make it impossible to perform the “Measure In” testing. | Honestly, this just occurred to me a couple of days ago. I have emailed a few people that are involved in the process. I have not received any responses that were helpful yet. |
| How Long it will take for the consumers to receive the rebates. | The concern about depleting their resources deters some people from purchasing a home. One of the significant benefits of the HERE approach is the expectation that these reserves will be at least partially replenished by the utility rebates after this work is done. The timeline on these rebates will be a major concern to some buyers | PG&E has indicated approximately 60 days depending in part on how quickly the Contractor submits the paperwork. SMUD has not given me an indication yet of their anticipated turn times. |
Sacramento 1st DBA Comstock Mortgage – Lic : 01390474
Kevin Nunn – NMLS 305826 / DRE 01158674
