The state of Pennsylvania is making some adverse credit secured loans available for homeowners that are faced with aging homes and energy problems. The new program will focus on offering affordable adverse credit secured loans to those who will be using them to upgrade to more energy efficient appliances such as better water heaters.“PHFA just started a secured loan and the Keystone Home Energy Loan is an unsecured loan,” said Shawna Hoffman, marketing coordinator for AFC First Financial Corp. of Allentown, which administers the programs. “Geothermal and solar systems are big. We’ve seen an increase in people’s interest in those systems,” she said. “Also, the Keystone loan is always busy processing applications because if someone needs a new boiler or windows, it’s good to have financing to cover that.”There are also unsecured loans for those who may not be interested in an adverse credit secured loan. Many people are finding that this option is better considering home values are plunging all over the United States and they prefer not to attach anything to their homes. Regardless of the option chosen, the adverse credit secured loans have been welcomed by citizens in desperate need of repairs on their aging homes.
Related reading: Adverse Credit Secured Loan
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