L.A. homeowners who were misled by energy-efficient loan program may qualify for $12M PACE settlement

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LOS ANGELES (KABC) — Thousands of Los Angeles County homeowners thought they were getting free energy-efficient upgrades – but instead ended up with loans they can’t afford.

Now a lawsuit settlement may bring them some relief.

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Zenia Ocana is one of thousands of L.A. homeowners targeted by the company Renew and Renovate America to enroll in unaffordable property assessed clean energy (PACE) loans, under the Los Angeles County program.

However, a new $12 million settlement will help thousands of low-income and elderly homeowners with PACE loans recoup their money lost to loan payments and property liens.

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