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  • Comment Detail

  • Date: 01/28/20
    First Name: Lori
    Last Name: McElligott
    Organization: Fibre Federal CU
    City: N/A
    State: N/A
    Attachment: N/A
    Number: 2020-N-1

  • Comment

    Good Day. I wanted to write a Credit Union and Mortgage Professional that I am in opposition to the PACE program. This program compromises the lien position of mortgages that have already been underwritten without the lien being in place prior to our mortgage dates. It should not be a first place lien and regardless of other lien positions that were already in place. And it sounds as thought the loans that would be offered to consumers that fall under the PACE program are not ideal for many home owners. They could do better with seeking a home equity or refinance of their current mortgage or the funds needed that these PACE loans would offer. I say NO, this cannot be allowed and I hope that you will hear the voices of the many that will surely oppose this.

    Thank you

    Lori