Image Up Advertising & Design

6 OUR YUCAIPA | MAY 2015 With ever-increasing costs of living all around us, everyone is trying to find ways to keep their money in their own wallets. One of the most prevalent (and easiest to fix) increases involvee the costs of your utilities. The average homeowner in Southern California spends more than $2,600 in electricity alone. There are lots of programs that allow you to afford the costs involved with making your home more efficient, with one of the most popular being the HERO (Home Energy Renovation Opportunity) Program. The HERO Program allows qualifying homeowners to finance the improvements with no money down, low fixed interest rates, and since the payments are made through your property taxes, your entire payment is tax deductible. There are over 900,000 products that qualify for this financing program, so basically, if in any way a product makes your home more efficient, it will qualify. What's harder than finding a qualifying product, however, is finding a qualified home improvement contractor that can easily and honestly help you understand what product and program is the best fit for your family's needs. The HERO Program can be very confusing if not explained properly by a knowledgeable resource. Smart Solar Power here in Yucaipa has been a part of the HERO Program since its inception, and last year alone wrote almost $2 million dollars in HERO loans. That said, we pride ourselves on being honest and knowledgeable, and I'm going to do my best to give you straightforward information to help answer any questions you may have. 1. Who qualifies for HERO Financing? Any homeowner with at least 10 percent equity in the home, no more than one late mortgage payment in the past 12 months, no more than one late property tax payment in the past 36 months, no bankruptcies discharged in the past two years, and no involuntary liens on the property. 2. What are the terms and rates? You can choose either a 5, 10, 15, or 20 year term, with post-tax APR rates of anywhere from -3 to 6 percent, depending on the tax bracket that you are in. (Consult a tax professional for your tax rates.) 3. Can I sell my home or refinance while I have an outstanding HERO Assessment? For this answer I will quote directly from the HERO website: "Yes, HERO properties can be sold or refinanced at any point. Remaining HERO assessments can be paid off or legally transferred to the new owner. Over 3,000 HERO Homeowners have refinanced or sold their homes, and the HERO assessment has been successfully transferred in the majority of those transactions. This process has recently been streamlined for HERO Homeowners, buyers, and real estate professionals with the assistance of our in-house dedicated group of HERO Property Advisors." There are lenders not familiar with the process, but don't be discouraged. If you contact the HERO Program they can direct you to a lender/realtor that can assist you. If you have any additional questions, feel free to call Smart Solar Power at 909-797-7000, the HERO Program at 855-HERO411, or any other certified HERO contractor. ~ Mike McCue Consumer News: Some Facts About the HERO Program

• Cover