What this means is that no traditional mortgage company will finance the home as the 2nd lien holder so if you plan on refinancing or selling the home, you have to pay off the "program" to be able to do so.(3) Some of these "programs" have penalties attached for early pay off or transfer of loan to another.(4)  The interest rates on these "programs" for these loans are high as many of them do not use credit scores to qualify people seeking the loans.Finally, there was a recent news article in my local paper about the "HERO" program [one of the green programs] which warned about using the program for these very reasons:**Beth Mills, a spokeswoman for California Banking Association, said in a telephone interview that any program that makes homes more energy-efficient is valuable, but the financing structure is problematic.

This usually takes 2-4 weeks to receive this refund.3) Lenders are afraid of a "charge back," because if a borrower pays off our loan too early (conventional, FHA, VA, USDA loans, etc) we are warned that we get charged back our commission.

It's unfortunate, and I wanted to warn the group and maybe save someone lots of trouble.

I'm simply saying this as a warning to him and other people as this has happened to me before.

Definitely appreciate the warnings.

When I was considering a remodel on my own home a friend who used to be in construction warned me not to pay until the work was completed.

Wow, Multiple Red Flag Warnings!

I definitely wouldn't buy from these guys without carefully inspecting the work.Thank you also for everyone who posted warnings about tenants at such a low rent price point ($600 per side on the duplex).

w@Kevin Siedlecki very correctly pointed out that you moving into a backyard shed would be a likely zoning violation (which is not criminal -but could lead to a fine if found out, then warned and warnings are ignored), but that would not dissuade me if shed living equaled saving money.  

But I'll warn the tenants about the white residue and interestingly enough most then seem to think the stuff must be powerful because of the residue.Now if these things are german roaches the baits/gels work (I've had good luck with Advion) but in that case you have to tell your tenant it's got to be a partnership between the tenant and management.