Westcoe Realtors, Riverside Ca…There has been a ton of press and conversation in the past couple of weeks regarding the Hero Loan program…articles in the Press Enterprise, stories about the District Attorney looking into the specifics of this program, etc.
Over the past year, we have written 3 very definitive blogs about the subject (just search the word “hero” on our website), and the sole purpose of todays topic (hopefully our last blog on this subject) is to make sure we are all on the same page about one thing:
Westcoe Realtors in not “anti-hero loan program”…we are “anti-POORLY DISCLOSED DETAILS-hero loan program.”
It appears that the major issue with this entire program is that so (SO) many homeowners don’t really know what they are signing up for until the “you-know-what” hits the fan later…when the financial details of the program come back to bite you pretty hard.
Our previous blog posts cover all the potential hazards (again…search the work hero on our “latest news” section of our website), but we simply want to reiterate to anyone out there that may be considering this program, you need to be aware of ALL the issues pertaining to the financial details of this program. If you do that, and still want to participate, then by all means, have at it. Our issue is that the financial details are being explained to the homeowner by the contractor who stands to gain the most from your participation, so there seems to be a disconnect in many cases between what the contractor says, and what the homeowner hears…and this disconnect can become VERY expensive for the homeowner down the road.
So…read our previous blog posts, and get all the info for you to make an informed decision…that’s all we have ever asked.
Take care, and as always, thanks for reading…and let us know if you have any issue you would like to see us address on our blogs.