BC701809) is available. Privacy Policy According to the lawsuits, the question of a homeowner’s “ability to repay” was not included in Renovate America’s or Renew Financial’s underwriting standards.
The attorney in that lawsuit, James Swiderski, could not be reached immediately for comment Wednesday. Her home is valued at about $375,000, according to the lawsuit. Our attorneys and advocates help people of all communities and generations secure life’s necessities. “Green Bay was able to charge Ms. Morehouse more than double the normal price because Ms. Morehouse is an elderly person with limited knowledge and was suffering from dementia,” attorney McCormick wrote. and your state and federal representatives. Charges in the similar lawsuits include financial elder abuse, forgery, bad faith, fraud, misrepresentation, negligence, unfair business practices and infliction of emotional distress. For more information, please visit www.publiccounsel.org. A free inside look at company reviews and salaries posted anonymously by employees. “By definition, a loan is predatory if the lender doesn’t even try to ascertain whether the borrower can afford it,” said Robert Schwartz of Irell & Manella. “This is like the subprime mortgage crisis all over again for many PACE borrowers,” said Shamus Roller of the National Housing Law Project. 1221 Broadway, 4th Floor, Oakland, CA 94612. All the while, Ms. Morehouse suffered from cancer treatments, a stroke, and dementia.”. Renew Financial spokesman Colin Bishopp said in an email Tuesday that the company “cannot comment on pending litigation.” Renew’s four top-ranking executives, including its CEO, founder, general counsel and executive vice president for governmental affairs, did not respond to requests for comment. Out of the 9 consumer complaints against Renew Financial, LLC, 0% were disputed by the consumer (i.e. On April 12, five homeowners sued Renew Financial and L.A. County, and four sued Renovate America and the county. “Hopefully, Renew Financial will do the right thing and correct this situation.”, (After this article was published, San Bernardino County spokesman David Wert said in an email that his county’s PACE program is administered by the San Bernardino County Transportation Authority, which is a regional government agency separate from county government. As for the county defendants, Kern County Counsel Mark Nations said his county was sued for alleged violations of the Public Records Act. “We did this because we thought it was going to save us money. Because of this PACE lien, now I’m worried all the time and all of my life’s savings is going toward saving my home,” said Mr. Bowen. 3250 Wilshire Blvd., 13th Floor, Los Angeles, CA 90010 | Phone:
Los Angeles County adopted the PACE program in 2012 and “delegated administrative responsibility to Renew Financial and Renovate America in 2015,” according to two April 12 lawsuits in L.A. Superior Court. “This is why regulation and oversight is necessary — to keep unscrupulous people from taking advantage of others,” McCormick said in an interview. Specified that no credit would be pulled when I applied and told me I was approved for 98k home efficiency loan. . The Renovate America/HERO or Renew Financial/California First financing. Write to or file a complaint with the California. 0% of consumer complaints against Renew Financial, LLC … Given his fixed income, poor credit and high debts, Mr. Nemore would not qualify for a traditional home improvement loan, yet he was approved for a Renovate America PACE loan for solar panels that will ultimately cost him $71,778 over 25-years. (See above for the forms and a self-help guide). He seeks an injunction, discharge of the liens, and damages for financial elder abuse, breach of contract, unfair competition, fraud, negligent misrepresentation and negligence. Plaintiffs Zenia Ocana and her husband Juan were already heavily in debt when they entered into a $45,000 contract for solar panels on their 1200 square-foot home through Renew Financial. By filing a complaint, you will send a message that they need to accept complaints about PACE.
The program, according to Los Angeles County’s PACE webpage, “enables homeowners to install energy efficiency, renewable energy and water-saving improvements to their properties without putting any money down!”. Founded in 1970, Public Counsel strives to achieve three main goals: foster economic justice by providing individuals and institutions in underserved communities with access to quality legal representation; protect the legal rights of disadvantaged children; and represent immigrants who have been the victims of torture, persecution, domestic violence, trafficking, and other crimes. BC701810) is available, The amended complaint against the County and Renew Financial (Case No. Renew Financial has been sued 14 times this year, 13 of them in California courts, according to the Courthouse News database. We thought it made sense based on what was explained to us, even though we could not read the contracts because they were in English. Attorneys representing the plaintiffs. Audrey Irmas Project for Women and Girls Rights. the consumer was not happy with how Renew Financial, LLC responded to their complaint) and 11% were processed in a timely manner. PACE financing is enabled under California law and began with good intentions, aiming to help homeowners make environmental-friendly improvements to their homes without any money down. Another itemized charge — for three windows, a “slider” and a front door — came to $16,740 for Green Bay, and a total of $19,745 after Renew Financial tacked on an 18 percent fee. Over the next 25 years, factoring in interest and other finance charges, Ms. Alvarez will be obligated to pay a total of $187,400 for the project. I don’t have an attorney but I want to take action.
(CN) — An elderly California woman suffering from stroke, dementia and cancer claims in court that she was charged $129,000 — “more than double the normal price” — for work on her home she did not need, and to replace items she had recently upgraded. Maria Alvarez is a housekeeper who allegedly agreed to pay $77,200 through Renew Financial for solar panels, “reflective” exterior paint, and artificial turf. If you live in LA County and have Renovate America (“HERO”) or Renew Financial (“CalFirst”) financing from before April 1, 2018, please complete this application for services and someone from our office will contact you. … Ms. Morehouse did not receive a copy of the PACE financing contract until after the improvement work had already started and then she became obligated to pay for that work.”, The complaint continues: “Defendant Green Bay acted as an unscrupulous contractor by selling Ms. Morehouse overpriced goods and services, items that she did not need, items that were not necessary for her home, and items which she had recently updated, all financed by the PACE program. At this time, our intake is closed and we will not be responding to applications for services related to any other PACE financing issues. The 40 PACE-related lawsuits filed in California in the past two years assert charges that include fraud, negligence, elder financial abuse, breach of contract, and violations of state laws, including unfair competition and breach of contracts. The lawsuits further allege that these activities comprise financial elder abuse under California law, because the defendants knew or should have known that elders would be harmed if the companies extended credit without reference to the elders’ ability to make the required payments. McCormick calls the interest rate “usurious” in the complaint. At this time, our intake is closed and we will not be responding to applications for services related to any other PACE financing issues. This sum far outweighs any financial benefit he is receiving from solar power, and he cannot afford it. Dozens of other lawsuits, whose defendants include the counties of Los Angeles, San Diego, Riverside, Kern, and San Bernardino, make similar claims against Renew Financial and Renovate America, and the contractors that do the work, and allegedly overcharge for it. Morehouse’s attorney Thomas McCormick, of Orinda, told Courthouse News: “My personal opinion is that the contractors are taking advantage, since they know they do not need to qualify homeowners for the loans — contractors sell the program basically as free improvements to unknowable homeowners. Irell’s clients include public companies, universities, individuals and leading-edge entrepreneurial companies. Instead, the primary consideration for underwriting a PACE loan is whether there is enough equity in the homeowner’s property to repay the lender if the home is foreclosed upon. Renew Financial, LLC consumers have reported over 9 official complaints. We will have to sell our house,” said Mrs. Ocana. These lawsuits and dozens of others in the past two years involve California’s Property Assessed Clean Energy program, or PACE, which the Legislature authorized local governments to implement in 2008. Instead of getting “green” homes, the plaintiffs may lose their homes to foreclosure. Copyright © 2020.