Hurricane damage in the Southeast has created major property insurance and affordability problems for homeowners. Families are still rebuilding after recent storms while facing ongoing insurance challenges and higher living costs. The ability to buy a home is less important than the ability to keep one. Expanding access to mortgage credit and lowering borrowing costs can help families stay financially afloat. Homeowners also need practical, affordable ways to improve the safety and resilience of existing homes, especially in hurricane-prone areas. Stronger roofs, impact-resistant windows and doors, and energy-efficient upgrades can improve storm performance and reduce utility bills, which may ease pressure on insurance premiums. Many families cannot afford these upgrades through traditional financing, so R-PACE financing has supported large numbers of home improvement projects in Florida.
"Homeowners are facing a crisis. A crisis in property insurance. A crisis in affordability. And with hurricane season fast approaching, a growing sense of anxiety across the Southeast about what comes next. We have seen this before. Hurricanes Helene and Milton caused more than $100 billion in damage across Florida alone, according to the National Oceanic and Atmospheric Administration (NOAA). Families are still rebuilding, still navigating insurance challenges and still asking how they can better protect their homes before the next storm hits."
"The challenge today is not only buying a home. It is holding onto one. That is why President Trump's recent actions to expand access to credit and lower borrowing costs are so important. His Executive Order on promoting access to mortgage credit is a step in the right direction, and efforts to cap credit card interest rates recognize a simple reality. When financing is more affordable, families have a better chance of staying afloat."
"But access to credit should not stop at the front door. Homeowners also need practical, affordable ways to invest in the safety and resilience of the homes they already have. That is especially true in Florida, where preparing for hurricane season is not optional. It is essential. We know what works. Stronger roofs, impact-resistant windows and doors and energy-efficient upgrades can make the difference between a home that withstands a storm and one that does not."
"The problem is cost. For many families, these upgrades are out of reach through traditional financing. That is where Residential Property Assessed Clean Energy financing, or R-PACE, has made a real difference. In Florida alone, R-PACE has supported more than 155,000 home improvement projects, totaling over $3.9 billion in investment. It is a major economic driver and a key partner"
Read at www.housingwire.com
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