Bill Introduced That Would Require Lenders to Consider Energy Costs

By: AP Email
By: AP Email

ATLANTA, GA 10/24/2011 -- U.S. Sen. Johnny Isakson has introduced a bill to require that mortgage lenders consider a homeowner's expected
energy costs when determining whether they can afford a loan.

The Georgia Republican joined with U.S. Sen. Michael Bennet, a
Colorado Democrat, in sponsoring the Sensible Accounting to Value
Energy Act. The lawmakers said the bill would enable better mortgage underwriting, encourage investments in energy efficient homebuilding and create more than 80,000 construction jobs.

The average homeowner spends more than $2,000 each year on energy costs. That's more than real estate taxes or homeowners insurance, both of which are regularly accounted for in mortgage underwriting. The SAVE Act would give borrowers a more complete picture of the costs of homeownership.

The bill has support from real estate, business, building trade and conservation groups.


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  • by Hogdriver on Oct 25, 2011 at 01:01 PM
    You expect this kind of stupidity out of a liberal weenie democrat, but a republican that goes along with it and buys into the idea that it will create thousands of new jobs is an idiot. Vote him OUT!!!
  • by daVID Location: TALLH on Oct 25, 2011 at 08:47 AM
    AND WE SPEND OUR GOOD TAX DOLLARS TO SEND AN IDIOT LIKE THIS TO WASHINGTON. COME ON MAN, YOU CAN'T LEGISLATE STUPIDITY. IF SOMEONES LIGHT BILL IS HIGH ONE MONTH, YOU SACRIFICE THE NEXT MONTH. WE WONDER WHAT IS WRONG WITH THIS GREAT NATION. WE HAVE ELECTED OFFICIALS WITH THIS MENTALITY
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