Western Riverside Council of Governments | WRCOG at Work
A liberal county government endorsing a program with an 8.95% interest rate for home improvements.
More then twice the interest rates of a 30-year mortgage.
Why is Riverside County which is a rather low-income per-capita income trying to exploit the resident's financial hardships by endorsing interest rates that 7 percentage points higher then the federal funds rate and 5 percentage points higher then a 30-year mortgage interest rate.
Looks like the county has been trying to peddle 8.95% interest rates to people with bad credit as a way to exploit them for sales tax revenue and a reason to foreclose on them when they have a lien on their house.
https://energy.gov/savings/western-r...hero-financing
https://www.socalenergyupgradecontra...v4_RELEASE.pdf