Consumer Alert
Recently the Department of Business Oversight (DBO), released a consumer alert warning people against fraudulent activity involving PACE loans. Since then the DBO has issued a cease and diciest to the Encino company, Eco Technology, Inc for illegal business practices. They allegedly solicited homeowners by urging them to sign up for a “free government program”. In addition to this they allegedly forged signatures of homeowners that were submitted to the PACE program and forged tax documents to make a homeowners qualify for repayment plans. The DBO also discovered that Eco Tech was selling products at inflated prices of nearly three to five times the market cost to predominantly older homeowners who’s first language was not English. This is only some of the predatory and illegal actions ECO Tech allegedly engaged in. The DBO has set out to ban them from the PACE program.
