Home News: New Carbon Monoxide Law and Program for Energy-Efficient Improvements

The Carbon Monoxide Poisoning Prevention Act of 2010 (CA Health & Safety Code § 13260) went into effect on July 1.

It requires carbon monoxide detectors to be installed in every "dwelling unit intended for human occupancy." The California Legislature also modified both the Transfer Disclosure Statement (TDS) for residential one-to-four unit real property and the Manufactured Home or Mobile Home Transfer Disclosure Statement (MHTDS) to include a reference to carbon monoxide detector devices. For more information, ask your Realtor, real estate attorney or home inspector.

Interest rates were up slightly last week due to better-than-expected sales of good and services, but will most likely fall again with the new report of less-than-stellar growth in new jobs. Although private sector jobs were up, loss of government jobs counteracted their impact on the economy.

Affordable Financing for Home Improvements

The Energy Loan from Fannie Mae has been developed to provide homeowners with an unsecured financing option for specified energy-efficient home improvements.

The loan, from $2,500 to $20,000, is offered for homes with little or no equity, and where financing can be approved in as little as 24 hours after receipt of the application. 

Fannie Mae and Viewtech Financial Services, which administers the financing, work with The League of California Homeowners, which provides the contractor background checks. All contractors must meet league standards before they can be approved. 

These upgrades must be used to improve the energy efficiency of the home, and can cover items such as water heaters, space heating, cooling, windows, ceilings, attic insulation and roofing, among others.  To apply, call Viewtech at 888-502-4222. The company will provide a list of qualified contractors in a given area along with other information needed to start a project.