@@Theonetruegod-hw2ei LOL. Try getting a decent paying job in Floriduh, unless you're a lawyer or work on the city dole. Assistance? Try living on their $250/week unemployment, if you can get it (only 8% who apply actually get something). It's a vacation state, a garbage state for the working stiffs.
did you miss the part where the persons don't qualify due to like the lady in the story no lender will loan to her and if she did not reroof then insurance will be dropped then mortgage will either get ins or foreclose due to fail to keep insurance
This is literally a way for a lender(who has got to be friendly with leadership in Florida) to loan money to people with no/bad credit who put up their homes as collateral. The loans are supposed to be for construction/installation of energy efficient improvements or home hardening construction improvements. Many people getting these loans, which don't have great interest rates by any stretch of the imagination, only have 1 asset, and it's the equity they have in their home. (the website for PACE says their interest rates are low because they're lower than the interest rate of a credit card[which on its own is not true for all credit cards]... Also, it's an obsurd thing to claim when presenting the program as some benevolent state program to help homeowners. Your house is not collateral against a credit card, not any credit card I've ever seen anyway). So essentially, you can't pay the 10%-13% interest PACE loan bill that they add directly to your property tax bill... PACE puts a lien on your house, and they can literally end up with your home for pennies compared to what it's worth. This is sick. It's like they set up a loophole to dole out predatory mortgages that help them secure super cheap immediately profitable real estate investments.
I agree with the Tax assessors!!! This should never have been attached to the their property taxes and at a staggering 10%??? Someone in government created this to make money period. Who's getting a kickback out of that 10% that's what I want to know. Then you factor in the expectation that property taxes will go up over a 30 year period of time and property owners are dead on arrival.
It was created to appease Blackrock and other mega corporations who are gobbling up properties so that you own nothing, and you’ll be happy about it. These big money firms own politicians, judges and now everything else.
@user-ol5rj8qn9o no protection? People just sign of for random Nigerian loan scams and the local tax collector is supposed to just attach it to the tax assessment? lol
Hey, why don't we start adding payday loans into our tax bills as well? How about the junk mail I just got offering me a $35,000 CASH loan in 24 hours? Can I roll that BS into my tax bill as well???? Get fu(ked pace.
Its her fault, she got a roof installed for 16,827$....probably didn't even try and get 3 quotes, probably got no other company to quote, and 16k for a roof is ludicrous. I paid 5K just this year for a larger roof than hers. Not only that but she decided to pay it as a loan with interest...why? No she racked up 36K interest, totalling 53K FOR A ROOF. Someone needs to take guardianship of her bank account.
@@user-ol5rj8qn9o exactly. Material went up 25 % in the last 3 years. Average sized home is about 20sq. Lowest price would be around 8k to 10k. Material and dumpster would be around 4k-4500
@@thatguy5801 "I paid 5K just this year for a larger roof than hers." Not from a Contractor! As a 40 year Purchasing Agent and Bid Cost Analysis, that is impossible!
@@reactivepall3589 Whom, of all the people in the world, do you think COULD POSSIBLY be one of "... who ever did this to her..." be? I really hope you answer.
Imagine paying 10% on a roof loan for 30 years….They’ll need another new roof before it’s paid off. Then what? It sounds like the counties are trying to protect the homeowners from certain foreclosure. What is the state thinking??
Home buyers, beware of these debts before buying a house that was “improved” under this program. Make sure the seller pays the remaining balance at time so sale so you don’t get stuck paying it,
Nice car, boat, and house. They need socialism to pay their bills?? Disability?? Surely there’s some job she could do. Funny how people whine about socialism but then gladly accept the money.
Not quite. The problem is that it is now established case law that all other judges will have to consider in similar cases unless someone can prove his interpretation was incorrectly applied, prove the applicable laws are illegal or until the applicable laws are amended/eliminated (which requires the State Legislature and governor get involved).
Didnt we leave Britain because of taxation without representation?… now we are being taxed in the same way by judges who don’t represent our best interest but the governments🙄
You didnt read, its not 14K that's the initial loan, the total is 53,500$ for her roof, which is her fault, she didnt take 5 minutes to call 3 roofing companies and get a second opinion and estimate.
Actually, this is how it works. Unfortunately. The judge's ruling was in accordance with applicable state laws. The problem is the applicable laws, that the Florida Legislature and Governor Charlie Crist signed into law in 2010, are messed up and it is the responsibility of the current Florida Legislature and governor to clean up the mess.
That looks like a huge house….if she couldn’t afford a new roof or repairs, maybe it’s time to move to a smaller house…..that’s how people end in trouble and may even lose their homes….
At the current market rates, she could sell her house and then purchase a new much smaller house and the loan payments would be the same with interest.
can you imagine owing nothing on your property, but lose it due to a new roof? you pay for insurance and pay into this pace program and still lose it. imo i would get the hell out of florida asap.
Ever think it wasn't here house being shown by a human controlled drone 🤔 And your response was perfect. We are only getting bits and pieces of a news story.
35k for a 14k roof on a 10% 30 year note? That's loan shark stuff. I'll just bet there is an adjustable rate clause hidden in there as well. Also, if she can not afford to maintain her home, perhaps it is time to downsize.
In 2024 we are staring down about $30k to replace a shingle roof. Metal will approach the initial purchase cost of the house. It's not getting out of control. It's already out of control.
I looked into this program to see what it did and if it was something to be involved in. I found it to be highly selective in answering direct specific questions. I found roof quotes outlandish. I found window replacement quotes outlandish. This is just a trap looking for the next victim. It should be shutdown.
Not the judge's fault. His hands were tied by existing laws. It is the fault of the Florida legislature and governor in 2010 who approved the creation of the PACE program and to a lesser degree subsequent legislatures and governors who didn't make needed corrections.
It amazes me that Americans can’t see the forest for the trees. It’s 2024… every single house built across the entirety of Europe, Australia, New Zealand etc, since 1950, still has its original roof. Why can every single country on the planet build roofs which last the life of the home, yet America installs roofs that need a complete replacement every 10 years? Nobody should ever have to have their roof replaced…. Ever. My house in australia was built in 1972, and still has its original roof. Every house in my street was built in the 70s, and they all still have their original roofs. Same goes for my entire suburb. Replacing a roof is something no one in Australia even contemplates. It’s just not on our radar at all.
You can put a metal roof on that last 50+ years or more. Most people can’t afford metal. A metal roof will be double or triple the cost of asphalt shingle roof. You could always do the roof yourself and save 30%. If she can’t afford a shingle roof she sure can’t afford a metal roof.
@@AsaphContractors My 52 year old roof is concrete tile. 90% of roofs in Australia are either terracotta or concrete. The rest are corrugated metal. Why the hell do you use asphalt/ shingles in the first place. That’s the real question.
@@just_passing_through The rich neighborhoods in Florida have terracotta or something that looks like terrocata.Most people can’t afford them here. The labor and material cost are sky high.
This is literally a way for a lender(who has got to be friendly with leadership in Florida) to loan money to people with no/bad credit(no credit checks apparently) who put up their homes as collateral. The loans are supposed to be for construction/installation of energy efficient improvements or home hardening construction improvements. Many people getting these loans, which don't have great interest rates by any stretch of the imagination, only have 1 asset, and it's the equity they have in their home. (the website for PACE says their interest rates are low because they're lower than the interest rate of a credit card[which on its own is not true for all credit cards]... Also, it's an obsurd thing to claim when presenting the program as some benevolent state program to help homeowners. Your house is not collateral against a credit card, not any credit card I've ever seen anyway). So essentially, you can't pay the 10%-13% interest rate PACE loan payment that they add directly to your property tax bill... PACE puts a lien on your house, and they can literally end up with your home for pennies compared to what it's worth. This is sick. It's like they set up a loophole to dole out predatory mortgages that help them secure super cheap immediately profitable real estate investments. Someone made some serious campaign contributions, or was owed a serious favor from leadership in Florida. Why do the loans have interest rates at all? if they're going to allow them to charge a 7% closing fee, then interest as well... how can you allow that interest rate to excede 2-3%. Florida really is devoted to going from 2nd in the nation in wealth inequality to 1st in the nation. 100's of millions in tax breaks for the rich approved just last year, and that barely scratches the surface.
This should not be a tax issue. This should be a mortgage issue. The roof is attached to the house. These improvement loans should be made part of the mortgage as in home improvement loans that use the equity in the home. This does not becaome a tax issue on ground of a loan. The taxes are only raised if a assessment shows a increase in the value of the home.
they should disclose how much of that $800+million was in interest payments, the rate at which Pace recipients defaulted or sold their homes, and the profit made by Pace lenders and installers. what is disturbing is the coverage from the news is so appallingly ignorant of any basic finance knowledge. it is simply the poor disabled and the need. the disabled homeowner made a great point that any competent investigative reporter should have followed up on. The homeowner indicated that she could swing $200-300 more per month (the increased tax bill) to pay the loan. First question: how many cannot afford the increased payment and will it increase risk of default? Second question: if you can afford that much then how about saving for a year or two, get competitive bids for the roof, and look at home equity, personal loans, credit card, etc. as options. The tax accessor gets at this point indicating that the homeowners targeted. can barely afford their tax bills now, and cannot qualify for financing. there’s no free lunch, tPace parties are not going to assume that risk, so of course the interest rates will be insane, and they are apparently have or are given the ability to assign it as a tax lien.
In other news homelessness in Florida at an all time high and still going up. Coincidently, rich people making record profits on residential properties.
I’m a contractor in Florida, I could never do this to anyone. The prices the contractors that do this Pace work, charge a fortune for one thing. People pay 40% or more over what they would pay on their own. Roofs especially, are so obnoxiously priced these days, it’s hard to afford without a loan.
I have a sister that lives in Fort Myers Florida, had her roof redone a couple of years ago, she told me the amount she paid, and said that is the norm. I think other roofing contractors in colder climates that slow down or stop work during the Winter, should get licensed in Florida(like Florida would allow that to happen), and run all them crooks out of business. Unless shingles and reroofing labor in Florida are flown in from some other planet, some/most/all roofing contractors in Florida are greedy, have zero integrity, and give zero shits about anyone other than themselves, to be charging so much more than other state roofing contractors are charging. I guess an honest days pay, for an honest days work, flew out the window down in Florida, maybe during a hurricane. IMHO
This to me is similar to the “Private tech college” that was really prominent in the early 2000’s. The government would let you access financial aid for a degree that’s not even officially accredited. And many people couldn’t even find jobs in the field cause companies would laugh at them for attending the schools and had to pay it all back.
$31,000 average per house.....Really? I replaced my whole roof for under $8000 and it was through the roofer's lender. They know a tax lien is an option if not paid. Adding it to the tax collector bill is a scam.
Her statement at the end, that it is not her issue it's between pace lender and county is wrong.. contractors can place lean if lender doesn't pay.. I bet it's in fine print.
Time too pay or we are going to Repo that Roof job.. If you can't pay the Roofer how you gonna pay the added amount on your Taxes.? I find it intriguing how people survive with no Amenities at all, yet people need AC and fancy windows and that people can survive in a Tropical setting with none of those amenities. I lived in Florida it's not that bad and you become accustomed too it. People just live way above what they really need.
$2-300 a month in additional county tax assessment would bankrupt me!! I just watch many county commissioners and agency heads get the FREE Federal property improvement freebies on their own businesses and investment properties. Shaking my head at their perks while I know people living in poverty have a car sized hole in their roof…
The unfortunate reality is that your house will always bee the object getting the lien placed in it. You need to understand that even if the county paid the amount due, that the loan is applied to your property in the form of a lien. Don't pay, your house will be sold.
Look closely, very nice big house on fenced in yard, covered pool in back yard, new car in driveway and a boat. But she can't afford her own home repairs? Who gets to keep the 10% interest?
WOW if only Florida had a body that could regulate these companies. Maybe a body of representative who could look at these ideas and make a decision that would benefit 'taxpayers'. Gee what could be done? Is it possible that somehow the people of Florida could somehow join together and appoint an organization to represent them? Oh wait, they do have something like this! It just sucks. Shocking!
Why is it the counties job to rescue people who make poor decisions? It’s not. They chose to do it, welcome to the consequences. She is milking g ssdi, can’t afford the roof, should’ve sold. Now she didn’t do proper research, oh well. Blaming someone else is disgraceful
We are losing our homes because of home owners insurance as well. The insurance companies are dumping older houses and insuring the new homes. Home owners insurance in Florida if you can find it is through the roof.
When you have taxes that rise quicker than the income you can earn then that needs to be the end of the rise in your taxes. There should NEVER be be a forced sale to pay for property taxes, when an honest effort has been made, like when emergency health issues arise. Instead of a forced sale, especially when you have spent enough time in your home that without interest you have paid for it already. Why can’t the tax collectors just place a lien and get paid back when a sale occurs for any reason. Especially a primary homesteaded home. Without of course any unreasonable fine or interest, higher than the current rate available for a great credit rating borrower.
This is EXACTLY why I never have taken out debt. Granted, I don't own my home, but I also never plan to have this problem. I wish our society is more affordable, I hate that she's going through this
He didn't. The bills approving the creation of the PACE program were passed and signed into law by the Florida Legislature and Governor Charlie Crist back in 2010. The judge's hands were tied.
As soon as someone says this is a government program to help people, I immediately back away because I know there is going to be some b.s. somewhere within the program or services offered!
I live in Florida. When my roof needed replacing 3 years ago, my homeowner's insurance paid for it. A rotten branch broke off and punched 3 holes in it, an assessor came out, approved it, and bingo, it got done. It was 22 years old, and thanks to a friendly hurricane, I got a new roof for free.
Solar/Blue Roofs, Rain catching and Well systems where possible, and Gardens should be apart of every household. If you want to raise rent, taxes, and mortgage, all other living expenses should be as self sufficient and substaining as possible.
The way those counties are handling this is so bone headed. "We're afraid home owners are going to lose their home due to this potentially shady program so let's remove that fear by ensuring they lose their home instead!"
I wish that was true. Florida has doubled in population. It can't be that bad,because everyone seems to be moving here. Fleeing from blue states. I blame the current potato in charge for it.
@Handssup We are Wisconsinites quietly holding our breath, hoping we aren't found out. Born and raised here (minus a few years in FL and N.M.). I'm never leaving again. Tennessee is one of my favorite states to visit. I've never been to the Carolinas, but definitely want to see!
Friends of politicians will soak up these properties super cheap and rent them out at ridiculous prices.... giving loans to people who can't afford them can be predatory 🎉
We had a bunch of out-of-town roofing companies in my neighborhood recently. Half the houses have been re-roofed and I'm pretty sure this company is involved with it. They tried to get me to get a new roof. I told him I don't need one, and it's been inspected. I thought it might be a scam.
Our insurance didn't drop us when we had solar hot water installed. We replaced the roof a while after that. Had solar electric installed a couple of years later. They actually dropped our rate because of the new roof. The only reason they knew we'd replaced the roof was the adjustor asked about how old the roof was, concerning insuring the house. We didn't call them up to tell them we replaced the roof, only "hey, we've got solar and we need to adjust the coverage".
Just do it yourself, and don't get involved with counties or government programs. It is all a scam
@@Theonetruegod-hw2ei LOL. Try getting a decent paying job in Floriduh, unless you're a lawyer or work on the city dole. Assistance? Try living on their $250/week unemployment, if you can get it (only 8% who apply actually get something). It's a vacation state, a garbage state for the working stiffs.
did you miss the part where the persons don't qualify due to like the lady in the story no lender will loan to her and if she did not reroof then insurance will be dropped then mortgage will either get ins or foreclose due to fail to keep insurance
This is literally a way for a lender(who has got to be friendly with leadership in Florida) to loan money to people with no/bad credit who put up their homes as collateral. The loans are supposed to be for construction/installation of energy efficient improvements or home hardening construction improvements. Many people getting these loans, which don't have great interest rates by any stretch of the imagination, only have 1 asset, and it's the equity they have in their home.
(the website for PACE says their interest rates are low because they're lower than the interest rate of a credit card[which on its own is not true for all credit cards]... Also, it's an obsurd thing to claim when presenting the program as some benevolent state program to help homeowners. Your house is not collateral against a credit card, not any credit card I've ever seen anyway).
So essentially, you can't pay the 10%-13% interest PACE loan bill that they add directly to your property tax bill... PACE puts a lien on your house, and they can literally end up with your home for pennies compared to what it's worth.
This is sick. It's like they set up a loophole to dole out predatory mortgages that help them secure super cheap immediately profitable real estate investments.
@@user-ol5rj8qn9o why would I do that? To end up like you?
Some of us aren't as rich as you. Fasano is wrong.
I agree with the Tax assessors!!! This should never have been attached to the their property taxes and at a staggering 10%??? Someone in government created this to make money period. Who's getting a kickback out of that 10% that's what I want to know. Then you factor in the expectation that property taxes will go up over a 30 year period of time and property owners are dead on arrival.
10% isn't staggering. 30 years is staggering.
Exactly and well put
It was created to appease Blackrock and other mega corporations who are gobbling up properties so that you own nothing, and you’ll be happy about it. These big money firms own politicians, judges and now everything else.
A politician that is also funded by say Blackrock maybe? 🤔 Did they every say who owns PACE?
10 percent for the big guy
I used to work for a a/c company and they would use this program to target the elderly.
They made millions
Conservatives for ya.
@@Theonetruegod-hw2ei Liberals
@@alfonsohernandez2384 there is that conservative personal responsibility. None to be seen.
@@alfonsohernandez2384in Florida? Nice try.
@@alfonsohernandez2384you all blame everyone else for your prioritizing money over people.
Another scam. These scammers need to be dealt with immediately and justly
There is no consumer protection in Floriduh.
I have some suggestions, but it would violate the "YT community guidelines".
@user-ol5rj8qn9o no protection? People just sign of for random Nigerian loan scams and the local tax collector is supposed to just attach it to the tax assessment? lol
Exactly
@@user-dw1ls3rp1lFYT
Purely predatory is what these "loan offices" are.
Hey, why don't we start adding payday loans into our tax bills as well? How about the junk mail I just got offering me a $35,000 CASH loan in 24 hours? Can I roll that BS into my tax bill as well???? Get fu(ked pace.
This is why I never get involved into these convuluted deals via the county.
Im here from the government and I'm here to help.
BOOM!!! Never, ever, trust those words, or the people who use them!
It's capitalists running the government.
Extortion and Racketeering plane and simple price the elderly and fixed income homeowners out of there homes.
Its her fault, she got a roof installed for 16,827$....probably didn't even try and get 3 quotes, probably got no other company to quote, and 16k for a roof is ludicrous. I paid 5K just this year for a larger roof than hers. Not only that but she decided to pay it as a loan with interest...why? No she racked up 36K interest, totalling 53K FOR A ROOF. Someone needs to take guardianship of her bank account.
@@thatguy5801 I had a roof done for 5K too, in the Northeast 25 years ago.
@@user-ol5rj8qn9o exactly. Material went up 25 % in the last 3 years. Average sized home is about 20sq. Lowest price would be around 8k to 10k. Material and dumpster would be around 4k-4500
@@thatguy5801
"I paid 5K just this year for a larger roof than hers."
Not from a Contractor! As a 40 year Purchasing Agent and Bid Cost Analysis, that is impossible!
@@reactivepall3589
Whom, of all the people in the world, do you think COULD POSSIBLY be one of "... who ever did this to her..." be? I really hope you answer.
Imagine paying 10% on a roof loan for 30 years….They’ll need another new roof before it’s paid off. Then what? It sounds like the counties are trying to protect the homeowners from certain foreclosure. What is the state thinking??
The one contract showed 36000 in interest over life of loan which is insane. The entire job should not cost this much.
For a roof that won't last 15 years in Florida!!! This is insane!
Worse your insurer will force you to replace the roof in 15 years so they never have to pay for a roof.
@@kbrown5218 Nailed it, 30-year mortgage on 15-year roof.
Home buyers, beware of these debts before buying a house that was “improved” under this program. Make sure the seller pays the remaining balance at time so sale so you don’t get stuck paying it,
Screw this judge and this scam program I’ll be suing
Another currupt judge
Nothing free or cheap
Nice car, boat, and house. They need socialism to pay their bills??
Disability?? Surely there’s some job she could do. Funny how people whine about socialism but then gladly accept the money.
@@jtjones4081 what cuban are you talking about?
@@samarianosansEasy! Those Cubans who fell for the lies of Fidel Castro in 1960. Now they have Communism.
Wow, words of a liberal 🙄
@@jtjones4081you pay into the system for disability
Since when does a Leon County Judge have authority over ALL Florida Counties?? His ruling is only valid in Leon County.
Not quite. The problem is that it is now established case law that all other judges will have to consider in similar cases unless someone can prove his interpretation was incorrectly applied, prove the applicable laws are illegal or until the applicable laws are amended/eliminated (which requires the State Legislature and governor get involved).
Lawfare.
This is wild. Florida homeowner insurance is wild. Florida is just wild. Wild.
@tyler0506
Florida has become a big POS..
Facts
😆 😂
Didnt we leave Britain because of taxation without representation?… now we are being taxed in the same way by judges who don’t represent our best interest but the governments🙄
@robertawiese
The U.S is still connected to
The Bank of England
The people left England for religious persecution. It had nothing to do with taxation. You are confusing your history. That was the Revolutionary War.
14k for that small roof is crazy 😂
The contractors know what they are doing lol. They know its a blank check to make crazy money.
that is a very reasonable price for new shingles here in florida
You didnt read, its not 14K that's the initial loan, the total is 53,500$ for her roof, which is her fault, she didnt take 5 minutes to call 3 roofing companies and get a second opinion and estimate.
@@thatguy5801 Who cares when the government is involved? This will manufacture a crisis where more money has to be spent to fix it.
It's about right.
This Program needs to end .
WOW !!! This is insanity!!!
Should be illegal and NOT THROWN AT EVERYONE! SMH WOW
She should've sold the house since she was not able to replace her roof
Yes and the fact that’s she’s frauding tax payers by collecting ssdi she should have sold. No reason why she can’t work especially from home
That's Not How It Works
A Judge Does Not Have That Power.
Actually, this is how it works. Unfortunately. The judge's ruling was in accordance with applicable state laws. The problem is the applicable laws, that the Florida Legislature and Governor Charlie Crist signed into law in 2010, are messed up and it is the responsibility of the current Florida Legislature and governor to clean up the mess.
They are handing out predatory loans . The judge did miss something. This issue will go federal eventually.
Aaaaaacctually
Oh yeah! The judge is saying, watch me work!
That looks like a huge house….if she couldn’t afford a new roof or repairs, maybe it’s time to move to a smaller house…..that’s how people end in trouble and may even lose their homes….
Bingo!
At the current market rates, she could sell her house and then purchase a new much smaller house and the loan payments would be the same with interest.
can you imagine owing nothing on your property, but lose it due to a new roof? you pay for insurance and pay into this pace program and still lose it. imo i would get the hell out of florida asap.
Ever think it wasn't here house being shown by a human controlled drone 🤔 And your response was perfect. We are only getting bits and pieces of a news story.
@@BunnyMan-ec4xg Time for a condo or apartment then.
800,000,000÷25,000 is approximately $32,000 per house. A new roof does not cost $32,000, so where did all the money go to?
35k for a 14k roof on a 10% 30 year note? That's loan shark stuff. I'll just bet there is an adjustable rate clause hidden in there as well. Also, if she can not afford to maintain her home, perhaps it is time to downsize.
In 2024 we are staring down about $30k to replace a shingle roof. Metal will approach the initial purchase cost of the house. It's not getting out of control. It's already out of control.
I looked into this program to see what it did and if it was something to be involved in. I found it to be highly selective in answering direct specific questions. I found roof quotes outlandish. I found window replacement quotes outlandish. This is just a trap looking for the next victim. It should be shutdown.
The judge can pound sand
Not the judge's fault. His hands were tied by existing laws. It is the fault of the Florida legislature and governor in 2010 who approved the creation of the PACE program and to a lesser degree subsequent legislatures and governors who didn't make needed corrections.
It amazes me that Americans can’t see the forest for the trees. It’s 2024… every single house built across the entirety of Europe, Australia, New Zealand etc, since 1950, still has its original roof. Why can every single country on the planet build roofs which last the life of the home, yet America installs roofs that need a complete replacement every 10 years? Nobody should ever have to have their roof replaced…. Ever. My house in australia was built in 1972, and still has its original roof. Every house in my street was built in the 70s, and they all still have their original roofs. Same goes for my entire suburb. Replacing a roof is something no one in Australia even contemplates. It’s just not on our radar at all.
You can put a metal roof on that last 50+ years or more. Most people can’t afford metal. A metal roof will be double or triple the cost of asphalt shingle roof. You could always do the roof yourself and save 30%. If she can’t afford a shingle roof she sure can’t afford a metal roof.
Weather may have something to do with it.
@@AsaphContractors My 52 year old roof is concrete tile. 90% of roofs in Australia are either terracotta or concrete. The rest are corrugated metal. Why the hell do you use asphalt/ shingles in the first place. That’s the real question.
@@just_passing_through The rich neighborhoods in Florida have terracotta or something that looks like terrocata.Most people can’t afford them here. The labor and material cost are sky high.
They definitely do not require a complete replacement every 10 years. That's a gross exaggeration.
This is literally a way for a lender(who has got to be friendly with leadership in Florida) to loan money to people with no/bad credit(no credit checks apparently) who put up their homes as collateral. The loans are supposed to be for construction/installation of energy efficient improvements or home hardening construction improvements. Many people getting these loans, which don't have great interest rates by any stretch of the imagination, only have 1 asset, and it's the equity they have in their home.
(the website for PACE says their interest rates are low because they're lower than the interest rate of a credit card[which on its own is not true for all credit cards]... Also, it's an obsurd thing to claim when presenting the program as some benevolent state program to help homeowners. Your house is not collateral against a credit card, not any credit card I've ever seen anyway).
So essentially, you can't pay the 10%-13% interest rate PACE loan payment that they add directly to your property tax bill... PACE puts a lien on your house, and they can literally end up with your home for pennies compared to what it's worth.
This is sick. It's like they set up a loophole to dole out predatory mortgages that help them secure super cheap immediately profitable real estate investments. Someone made some serious campaign contributions, or was owed a serious favor from leadership in Florida. Why do the loans have interest rates at all? if they're going to allow them to charge a 7% closing fee, then interest as well... how can you allow that interest rate to excede 2-3%. Florida really is devoted to going from 2nd in the nation in wealth inequality to 1st in the nation. 100's of millions in tax breaks for the rich approved just last year, and that barely scratches the surface.
@Utilid4life- 💯 💯 💯👏
Nailed it. The corruption smell wafts the entire state.
This should not be a tax issue. This should be a mortgage issue. The roof is attached to the house. These improvement loans should be made part of the mortgage as in home improvement loans that use the equity in the home.
This does not becaome a tax issue on ground of a loan. The taxes are only raised if a assessment shows a increase in the value of the home.
The PACE program is just trying to get the county to do it's dirty work.
they should disclose how much of that $800+million was in interest payments, the rate at which Pace recipients defaulted or sold their homes, and the profit made by Pace lenders and installers.
what is disturbing is the coverage from the news is so appallingly ignorant of any basic finance knowledge. it is simply the poor disabled and the need. the disabled homeowner made a great point that any competent investigative reporter should have followed up on. The homeowner indicated that she could swing $200-300 more per month (the increased tax bill) to pay the loan. First question: how many cannot afford the increased payment and will it increase risk of default? Second question: if you can afford that much then how about saving for a year or two, get competitive bids for the roof, and look at home equity, personal loans, credit card, etc. as options. The tax accessor gets at this point indicating that the homeowners targeted. can barely afford their tax bills now, and cannot qualify for financing.
there’s no free lunch, tPace parties are not going to assume that risk, so of course the interest rates will be insane, and they are apparently have or are given the ability to assign it as a tax lien.
This judge is going to far . People ŵho are not a party to PACE should not be paying for others.
The PACE business needs to be taken to court and have them face the music.
In other news homelessness in Florida at an all time high and still going up. Coincidently, rich people making record profits on residential properties.
I’m a contractor in Florida, I could never do this to anyone. The prices the contractors that do this Pace work, charge a fortune for one thing. People pay 40% or more over what they would pay on their own. Roofs especially, are so obnoxiously priced these days, it’s hard to afford without a loan.
I have a sister that lives in Fort Myers Florida, had her roof redone a couple of years ago, she told me the amount she paid, and said that is the norm. I think other roofing contractors in colder climates that slow down or stop work during the Winter, should get licensed in Florida(like Florida would allow that to happen), and run all them crooks out of business. Unless shingles and reroofing labor in Florida are flown in from some other planet, some/most/all roofing contractors in Florida are greedy, have zero integrity, and give zero shits about anyone other than themselves, to be charging so much more than other state roofing contractors are charging. I guess an honest days pay, for an honest days work, flew out the window down in Florida, maybe during a hurricane. IMHO
I'm a contractor, and it seems her roofer is simply doing whatever he can to protect his business.
Flordia is out of control in everything. 😮
More Florida greed.
Government supplies customers to businesses, guaranteed payment to companies, then seizes the homes of those who can't pay.
Not Florida greed, corporate greed.
Sounds like a Federal backed energy program! lol
Exactly
Greed is EVERYWHERE, we could only wish it was only in Florida.
These Pace losers need to set up their own separate loan programs, not try to make the tax collector collect for them.
This to me is similar to the “Private tech college” that was really prominent in the early 2000’s. The government would let you access financial aid for a degree that’s not even officially accredited. And many people couldn’t even find jobs in the field cause companies would laugh at them for attending the schools and had to pay it all back.
$31,000 average per house.....Really? I replaced my whole roof for under $8000 and it was through the roofer's lender. They know a tax lien is an option if not paid. Adding it to the tax collector bill is a scam.
Her statement at the end, that it is not her issue it's between pace lender and county is wrong.. contractors can place lean if lender doesn't pay.. I bet it's in fine print.
Time too pay or we are going to Repo that Roof job.. If you can't pay the Roofer how you gonna pay the added amount on your Taxes.? I find it intriguing how people survive with no Amenities at all, yet people need AC and fancy windows and that people can survive in a Tropical setting with none of those amenities.
I lived in Florida it's not that bad and you become accustomed too it. People just live way above what they really need.
Got to push out all those middle-class people. So you can move in more rich New Yorkers.
$2-300 a month in additional county tax assessment would bankrupt me!! I just watch many county commissioners and agency heads get the FREE Federal property improvement freebies on their own businesses and investment properties. Shaking my head at their perks while I know people living in poverty have a car sized hole in their roof…
Floriduh!!!
And they say California is messed up!
Ah, what did De Satan have to do with this?
Why is it almost everyday Florida is involved in something ??? Is it the water or the Governor...??
I don’t think the governor is in the roofing business. Be thankful you don’t live in the red states!
No just some of the gullible liberal residents. We still have quite a few.
its because we're the third biggest state? Maybe you just click on Florida news bc you don't like Florida?
@@natmarelnam4871 We also have the "Sunshine Law", all governmental business is everybody's business if they want to go looking at it.
How is replacing shingles on a roof part of an "energy" program? That doesn't affect energy.
The unfortunate reality is that your house will always bee the object getting the lien placed in it. You need to understand that even if the county paid the amount due, that the loan is applied to your property in the form of a lien. Don't pay, your house will be sold.
Look closely, very nice big house on fenced in yard, covered pool in back yard, new car in driveway and a boat. But she can't afford her own home repairs? Who gets to keep the 10% interest?
WOW if only Florida had a body that could regulate these companies. Maybe a body of representative who could look at these ideas and make a decision that would benefit 'taxpayers'. Gee what could be done? Is it possible that somehow the people of Florida could somehow join together and appoint an organization to represent them? Oh wait, they do have something like this! It just sucks. Shocking!
Any home owner who gets involved with a financing scam like this is ignorant & needs intervention.
Why is it the counties job to rescue people who make poor decisions? It’s not. They chose to do it, welcome to the consequences. She is milking g ssdi, can’t afford the roof, should’ve sold. Now she didn’t do proper research, oh well. Blaming someone else is disgraceful
We are losing our homes because of home owners insurance as well. The insurance companies are dumping older houses and insuring the new homes. Home owners insurance in Florida if you can find it is through the roof.
If you can afford a 2-300 dollar loan payment you should be saving 2-3 hundred s month.
Then youll have momey to pay for repairs.
The fact that it's a 10% interest rates should be a huge RED FLAG as to the predatory nature of this program....
Why doesn't it just result in a small reverse mortgage that allows improvements and payments based on improvements minus the reverse mortgage.
When you have taxes that rise quicker than the income you can earn then that needs to be the end of the rise in your taxes. There should NEVER be be a forced sale to pay for property taxes, when an honest effort has been made, like when emergency health issues arise. Instead of a forced sale, especially when you have spent enough time in your home that without interest you have paid for it already. Why can’t the tax collectors just place a lien and get paid back when a sale occurs for any reason. Especially a primary homesteaded home. Without of course any unreasonable fine or interest, higher than the current rate available for a great credit rating borrower.
Have family snd friends help replace your roof.. Than you won't half to sign a contract!!
10% interest rate you might as well give your home to the County..
@MrBobochow
That’s these corrupt politicians
whole idea who were complicit in drafting up this Bill.🤨
What is needed is an emergency injunction to halt foreclosures until this is sorted
TAKE advantage of the UNSUSPECTING !
Wait, PACE gets millions in donations, but these people still have to pay back interested loans? Thats confusing.
Wow 10% over 30 years. Turns a $15k improvement into a $50,000 bill over 30 years. Crazy ridiculous interest rate. Criminal.
Don't hire a roofer company!! They could take you to the bank are put s lean on your House..
The government is supposed to collect money for a private company?
Small Business Administration has been guaranteeing loans for decades. When business can't pay the loan, SBA moves in and sells everything.
Gotta make these companies rich! 💪🇺🇲💪
LA County is tangled up in this too. Big problems for everyone involved. County getting sued, contractors getting sued. Big mess.
Hernando county, what a shocker..
and Hillsborough and Pinellas.
This is EXACTLY why I never have taken out debt.
Granted, I don't own my home, but I also never plan to have this problem.
I wish our society is more affordable, I hate that she's going through this
Shingles for that house is at most $3k, so 900% labor & FEE'S
Greed!
DeSatan's Florida
County scam lawsuit time for damage.
If they come knocking show em the way outta the yard!!! 🤯🤯🤯
If you want something screwed up, involve the government. I hope it works out for these people.
This reporting is excellent - I'm surprised the full issue was reported here
Only in Florida
I get those pace flyers taped to my front door. They're thrown in the garbage.
A judge should not make rules
He didn't. The bills approving the creation of the PACE program were passed and signed into law by the Florida Legislature and Governor Charlie Crist back in 2010. The judge's hands were tied.
As soon as someone says this is a government program to help people, I immediately back away because I know there is going to be some b.s. somewhere within the program or services offered!
I live in Florida. When my roof needed replacing 3 years ago, my homeowner's insurance paid for it. A rotten branch broke off and punched 3 holes in it, an assessor came out, approved it, and bingo, it got done. It was 22 years old, and thanks to a friendly hurricane, I got a new roof for free.
Solar/Blue Roofs, Rain catching and Well systems where possible, and Gardens should be apart of every household.
If you want to raise rent, taxes, and mortgage, all other living expenses should be as self sufficient and substaining as possible.
The way those counties are handling this is so bone headed. "We're afraid home owners are going to lose their home due to this potentially shady program so let's remove that fear by ensuring they lose their home instead!"
Florida became a nightmare sometime in the mid 2000's. Losing citizens at an alarmingly fast PACE.
I wish that was true. Florida has doubled in population. It can't be that bad,because everyone seems to be moving here. Fleeing from blue states. I blame the current potato in charge for it.
@Handssup Lived in Marco Island in the 90s. Loved it, but would never go back.
@@juliethompson8685 bought property out in the woods in Tennessee, North Carolina border. I'm out of here eventually also. It's getting too crowded.
@Handssup We are Wisconsinites quietly holding our breath, hoping we aren't found out. Born and raised here (minus a few years in FL and N.M.). I'm never leaving again.
Tennessee is one of my favorite states to visit. I've never been to the Carolinas, but definitely want to see!
Quote by Yogi! “Nobody goes there, it’s too crowded”
The fact that we essentially ‘rent’ our homes from local governments in the form of property tax is so unAmerican.
Just do what Murphy Brown, did have a handy man on the payroll.
Ill never hire a roofer company to do my roof,they can change what they want..and take you to the bank and put a lean on your home!!
Friends of politicians will soak up these properties super cheap and rent them out at ridiculous prices.... giving loans to people who can't afford them can be predatory 🎉
I remember getting pitches on this program. I smelled a rat at that time, looks like I was right!
Where is the governor on all of this?… where is Ashley Moody on all of this?…. Awfully silent in Tallahassee.
We had a bunch of out-of-town roofing companies in my neighborhood recently. Half the houses have been re-roofed and I'm pretty sure this company is involved with it. They tried to get me to get a new roof. I told him I don't need one, and it's been inspected. I thought it might be a scam.
This is terrible!! the tax department needs to do their jobs of these people. Do not lose our home now.!!
I believe the counties are doing the right things, trying to protect people from losing their homes.
Why? They chose the loan. This has nothing to do with the county. If you CHOSE to do it, you deal with the consequences.
@dcg590 I don't disagree but this is what caused the last housing collapse
Once again a government passing a law without insuring it works as it should. It does not always help to put people in loan term loans?
Get that Governor on it!
Government coercion, who would have thought.
ABC Action News, Subscribed because your videos are so much fun!
You can lose your homeowner's insurance installing solar panels.
Our insurance didn't drop us when we had solar hot water installed. We replaced the roof a while after that. Had solar electric installed a couple of years later. They actually dropped our rate because of the new roof. The only reason they knew we'd replaced the roof was the adjustor asked about how old the roof was, concerning insuring the house. We didn't call them up to tell them we replaced the roof, only "hey, we've got solar and we need to adjust the coverage".
Only after $800,000,000 later , someone noticed a very fishy odor.....