Truth #18: Marketing “Location-Efficient” Mortgages with Taxpayer Dollars
What the bill does: Requires a public awareness campaign to inform residential lenders and prospective home buyers about the availability, benefits, and terms of energy-efficient and “location-efficient” mortgages. Location efficient mortgages finance homes that, because of their location, will result in decreased transportation costs for the owner. The methods of public awareness may include entering into a contract with an appropriate entity to publicize and market such mortgages through appropriate media. (H.R. 2454, Sec. 289, p. 616.)
What this means for Americans: With record jobs losses and spiraling deficits, the Democrats’ national energy tax puts money into the pockets of marketing organizations in order to promote “location-efficient” mortgages, instead of putting money into the pockets of hard-working families and small businesses.