Sadly, I knew it was coming… but San Francisco has suspended their loan program to help homeowners save energy and go green…

From GreenFinanceSF

Hello,
As a result of guidance issued by the Federal Housing Finance Agency (FHFA) on July 6, 2010, the GreenFinanceSF Program has been suspended indefinitely. The following notice has been posted to the GreenFinanceSF website at www.greenfinancesf.org.

“The GreenFinanceSF residential program is suspended until further notice.

According to guidance received from the Federal Housing Finance Agency (FHFA) on July 6 2010, Fannie Mae and Freddie Mac—the government-sponsored entities that guarantee more than half of the residential mortgages in the United States—and the lenders and other servicers that they work with, will not originate loans or other financings on homes that take advantage of GreenFinanceSF or other Property Assessed Clean Energy (PACE) programs being implemented nationwide, and may take additional unfavorable actions relative to underwriting new mortgages in jurisdictions with active residential PACE financing programs.. A New York Times article published June 30, 2010, provides more detail on this issue. In order to protect GreenFinanceSF participants from uncertain impacts to existing or future home mortgage contracts, we have suspended the residential program indefinitely.

The City and County of San Francisco deeply regrets this development and has joined with other local governments to urge Fannie Mae, Freddie Mac and FHFA to reconsider their position and allow local governments to bring the benefits of energy conservation and job creation to communities across the country.

Please feel free to call (800) 803-6930 if you have any questions. Thank you.”