Protecting Homeowners from Predatory PACE Home Loans

The Property Assessed Clean Energy (PACE) program is a predatory lending scheme that has left thousands of homeowners, including many elders, people of color, and non-English speakers, in financial distress and at risk of losing their homes. The program began with good intentions – designed to allow homeowners to use equity in their properties to secure loans to make “green” home improvements. Instead, private financing companies have co-opted the program, taking advantage of its lack of consumer protections to unleash a plague of predatory home-improvement loans across the country.

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