Christina Lewellen, senior editor of Window & Door
Some interesting news
this week from HUD and DOE. In the Obama Administration's
continuing efforts to encourage energy efficient upgrades to the
nation’s residential housing stock, the PowerSaver lending program is
now open for business.
In a nutshell, homeowners with decent
credit and some equity in their homes are eligible to seek low-interest
loans for up to $25,000 to complete significant energy efficiency
upgrades. The lenders in the pilot are committed to making these loans
and the government (HUD) will back them in the event of default. The
government is expecting to assist around 30,000 homeowners and create
about 3,000 jobs, says HUD. Maybe even more over time if the program
gains traction in the marketplace.
So share some thoughts
with me. Do you like the concept? Is this a healthy way for HUD to
accomplish its objective of more efficient homes without stretching the
federal budget? Do you think it will help more homeowners secure the
financing they need to tackle their window and door replacement
projects? What about the impact on your business? If you sell
replacement windows or doors, would this help you? Or do you see this
helping a limited number of companies at your expense? Please send me an email or post a comment to share your thoughts.