Christine

Hi Christine, I'm assuming they're behind on payments and that's why the owner is calling in the note?

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.

As Christine stated, new lease.

@Christine Mwai I actually did read through your post :)  Glad you are getting the issue resolved.Like many seasoned LLs noted on the post, I am also not comfortable letting tenants take care maintenance items that would affect property values. 

Christine S. glad you were able to find some help on here!

Christine Swaidan , Kristina Heimstaedt , thank you for the feedback.

@Christine Kankowski I'm aware of the status on a daily basis because I'm there daily to clean the dog waste out of the yard.

@Christine Kankowski I agree that Temecula and Murrieta are a great place to invest but I think your commute time to San Diego is very optimistic, more like 45 minutes minimum with no traffic.

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