Date: November 20, 2009 1:41:44 PM CST
Subject: Bill HR2454 ~ has just past the House - going to Senate - Requires a license for your house ! - Urgent must read !

TONY COSTABILE
Senior Mortgage Consultant
American Fidelity Mortgage Services Inc.
email]tcostabile@ilmortgageteam.com[/email]
www.MortgagesByTony.net


"An Illinois Residential Mortgage Licensee...
also licensed in Indiana, Wisconsin and Florida"



Good morning all, please take the time to carefully read this….see if you find it as scary as I did!

Bill HR2454


Cap and Trade: A License Required for your Home

I encourage you to read the provisions of the Cap and Trade Bill that has passed the House of Representatives and being considered by the Senate! I don not understand what this Congress and their "creative" staffs are thinking, I don't want to get political, but are they truly out to destroy the middle class of the USA?


A License Required for your house:

Look carefully at H.R. 2454 (Cap and Trade bill) Unbelievable! Take note then tell your clients, your friends and relatives who are home owners!

Beginning 1 year after enactment of the Cap and Trade Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act (H.R. 2454), the "Cap & Trade" bill passed by the House of Representatives. If also passed by the Senate, this will be the largest tax increase any of us has ever experienced.

The Congressional Budget Office (supposedly non-partisan) estimates that in just a few years the average cost to every family of four will be $6,800 per year. No one is excluded. However, once the lower classes feel the pinch in their wallets, you can be sure these voters get a tax refund (even if they pay no taxes at all) to offset this new cost.

Thus, Mr. and Mrs.. Middle Class America will have to pay even more since additional tax dollars will be needed to bail out everyone else.

But wait… This awful bill (I can't believe anyone in Congress has actually read it) as it has many more surprises. Probably the worst one is this:
A year from now you won't be able to sell your house. Yes, you read that right. The caveat is that if you have enough money to make required major upgrades to your home, then you can sell it. But, if not, then forget it. Even pre-fabricated homes (mobile homes) are included. In effect, this bill prevents you from selling your home without the permission of the EPA administrator.

To get this permission, you will have to have the energy efficiency of your home measured. The government will tell you what your new energy efficiency requirement is and you will be forced to make modifications to your home under the retrofit provisions of this Act to comply with the new energy and water efficiency requirements. You will have to get your home measured again and get a license (called a "label" in the Act) that must be posted on your property to show what your efficiency rating is; sort of like the Energy Star efficiency rating label on your refrigerator or air conditioner.

If you don't get a high enough rating, you can't sell. And, the EPA administrator is authorized to raise the standards every year, even above the automatic energy efficiency increases built into the Act. The EPA administrator, appointed by the President, will run the Cap & Trade program (AKA the "American Clean Energy and Security Act of 2009") and is authorized to make any future changes to the regulations and standards he alone determines to be in the government's best interest. Initial requirements are set low so the bill will pass Congress; then the Administrator can set much tougher new standards every year. The Act itself contains annual required increases in energy efficiency for private and commercial residences and buildings. However, the EPA administrator can set higher standards at any time.

Sect. 202:
Building Retrofit Program mandates a national retrofit program to increase the energy efficiency of all existing homes across America. Beginning 1 year after enactment of the Act, you won't be able to sell your home unless you retrofit it to comply with the energy and water efficiency standards of this Act.

You better sell soon, because the standards will be raised each year and will be really ex$pen$ive to meet in a few years. The Act allows the government to give you a grant of several thousand dollars to comply with the retrofit program requirements if you meet certain energy efficiency levels. But, wait, the State can set additional requirements on who qualifies to receive the grants.

You should expect requirements such as "can't have an income of more than $50K per year", "home selling price can't be more than $125K", or anything else to target the upper middle class (YOU) and prevent them from qualifying for the grants. Most of us won't get a dime and will have to pay the entire cost of the retrofit out of our own pockets. More transfer of wealth, more "change you can believe in."

Sect. 204:
Building Energy Performance Labeling Program establishes a labeling program that for each individual residence will identify the achieved energy efficiency performance for "at least 90 percent of the residential market within 5 years after the date of the enactment of this Act."

This means that within 5 years 90% of all residential homes in the U.S. must be measured and labeled. The EPA administrator will get $50M each year to enforce the labeling program. The Secretary of the Department of Energy will get an additional $20M each year to help enforce the labeling program. Some of this money will, of course, be spent on coming up with tougher standards each year.

The label will be like a license for your car. You will be required to post the label in a conspicuous location in your home and will not be allowed to sell your home without having this label.
And, just like your car license, you will probably be required to get a new label every so often - maybe every year. But, the government estimates the cost of measuring the energy efficiency of your home should only cost about $200 each time. Remember what they said about the auto smog inspections when they first started: that in California it would only cost $15. That was when the program started. Now the cost is about $50 for the inspection and certificate; a 333% increase. Expect the same from the home labeling program.

Sect. 304:
Greater Energy Efficiency in Building Codes establishes new energy efficiency guidelines for the National Building Code and mandates at 304(d), Application of National Code to State and Local Jurisdictions, that 1 year after enactment of this Act, all state and local jurisdictions must adopt the National Building Code energy efficiency provisions or must obtain a certification from the federal government that their state and/or local codes have been brought into full compliance with the National Building Code energy efficiency standards.

Again, I encourage you to forward this to every homeowner you know…

Your trusted Mortgage advisory,
Tony

TONY COSTABILE, CRMS
Certified Residential Mortgage Specialist

For additional information, you can also go to:

a license required for your home - Google Search
H.R. 2454: American Clean Energy and Security Act of 2009 (GovTrack.us)

http://www.govtrack.us/congress/bill.xpd?bill=h111-2454