As some of you may have realized there has been an increase in demand for Energy Efficient Mortgages or EEM's.

Some association such as Maine State Housing, Rural Housing and FHA/HUD have been putting together packages and programs built around meeting the new legislation regarding conserving energy.

A couple of them are:

HR 6078 - Green Resources for Energy Efficient Neighborhoods Act of 2008.

H.R. 2454 - American Clean Energy and Security Act of 2009

The official summary can be found on www.opencongress.org or http://www.govtrack.us/congress/bill.xpd?bill=h110-6078

Energy Efficient Mortgage's are mortgages that allow the homeowner to make energy efficient improvements. In some cases these mortgages are above and beyond the market value of the property. I have read that some limit the additional funds to a 20% savings on energy bills and some have limitation such as 10% or $35,000. Energy Efficient Mortgages (EEM's) are similar in design as a loan through FHA's 203K program.

If you are considering offering this type of mortgage, I would like you to be aware that I am expanding my services and have been trained and I currently more training to provide Energy Audits.

I will provide any lender that I have worked with a coupon for a discount on energy audits. This can be offered in conjunction with the coupon currently provided by Maine State Housing.

For any additional information please contact me or go to the website www.workingre.com .

Sincerely,
Jeffrey Patterson
Residential Appraisals
(207) 251-1339