Energy Efficient Window Replacement
LESLIE: Patricia in Wisconsin needs some help replacing some windows. What can we do for you?
PATRICIA: Well, it’s a difficult question for me to answer but maybe it’s simple for you to answer. I am thinking about replacing my windows and I have no income as far as wages are concerned. Do I still qualify, somehow or the other, for the $1,500 rebate?
LESLIE: Well, the $1,500 federal tax credit is based on you purchasing energy-efficient heating and cooling equipment, windows. They have to meet certain criteria to get this government rebate. There are – if you need assistance with funding to actually purchase these replacement windows, there are a couple of places you could look. In late 2009, there was the American Renovation and Reinvestment Act. And then there was the weatherization program within that American Renovation and Reinvestment Act where there is funding available to certain families who qualify for financial aid in making these improvements to their homes that they can’t afford to do so.
There’s also the Home Repair Loan and Grant Program which is also run by the government which would provide loans to renovate or modernize or even repair homes where you can qualify for a $20,000 loan over 20 years at 1% interest. And then there’s another grant that’s funded by the Department of Housing and Urban Development, which is called HUD.
So there are a couple of different places that you could look into and see what’s currently available but that federal tax credit expires at the end of 2010.
PATRICIA: Oh, OK, I see. Well, I can look into some of this and I appreciate you taking my call.
TOM: You’re very welcome, Patricia. Thanks so much for calling us at 888-MONEY-PIT.