It takes a certain kind of imagination to dream up a 'green' scam

7/6, "A blow to home retrofits," NY Times Green Blog

• "The federal agency that oversees two government-chartered mortgage finance companies imposed new restrictions Tuesday on homeowners’ ability to take advantage of a program that allows them to repay the cost of installing solar panels and other energy improvements through an annual surcharge on their property taxes.

The new guidelines could also make it more difficult for homeowners to obtain mortgages even if they don’t participate in the programs, called Property Assessed Clean Energy, or PACE, but happen to live in an area where they are offered....

• In issuing the guidance to Fannie Mae and Freddie Mac, which buy and resell most mortgages, the Federal Housing Finance Agency was critical of the energy efficiency programs that have been authorized by 22 states and that have drawn $150 million in stimulus funding support from the Obama administration.

When a municipality pays for energy efficiency upgrades through the program, a lien is placed on the home. The liens, like other property tax assessments, take priority over the mortgage if the homeowner defaults."...

• via Tom Nelson