E-M:/ Press Release

[Joel Wiese <joel@twelve29.com>]

-------------------------------------------------------------------------
Enviro-Mich message from Joel Wiese <joel@twelve29.com>
-------------------------------------------------------------------------

Thought you all would enjoy seeing the latest win for the Michigan 
environment.  I know I didn't talk about the environmental impact on 
air quality for Michigan in my release, but this is a big first step in 
the right direction to reduce Michigan's energy dependence on fossil 
fuels, and to clean up our air as well.  Thanks again for all your 
support!  Here's to a greener way to live!

- - - - - - - - - - - - - - -
FOR IMMEDIATE RELEASE
Contact: Joel Wiese
Phone: 517.483.5121
Fax – 517-483-5114
Joel@LansingMortgages.com

NEWS RELEASE

Indigo Financial Group first in Michigan to close an energy-efficient 
conventional mortgage.

Lansing, MI (November 23, 2004) – Indigo Financial Group broke new 
ground this month by being the first mortgage company in Michigan to 
successfully
close a conventional Energy Efficient Mortgage.  The new homeowner with 
the Energy Efficient Mortgage will be saving $740 a year in utility 
costs, and
in this case will be reducing their monthly payment by $60 as compared 
to a conventional mortgage payment.

With the Energy Department estimating natural gas prices up 15% and 
fuel oil up 37% this winter, the Energy Efficient Mortgage, created by 
Fannie Mae and
offered by Indigo Financial, is a smart and economical way for 
homeowners and buyers to quickly lower their monthly bills.

According to Indigo loan officer Joel Wiese, it’s a tool that can save 
30% to 50% on utility costs annually.

Not only do Energy Efficient Mortgages lower utility costs year after 
year, they also increase the value of homes, and have a significant 
environmental
impact.  And they can be done with a new home purchase or a refinance.

This unique home financing option begins like any other mortgage with 
the application for the loan.  Once a homebuyer has been pre-qualified, 
the home
is subject to an energy audit to determine its efficiency.

The applicant then gets to choose from a “menu” of improvements that 
will help contribute to the efficiency of the home.  Everything from 
windows and doors, heating and cooling systems as well as hot water 
heaters, appliances, lighting and photovoltaic systems (solar power) 
can be selected — and they will also see what they will save in utility 
costs each year.

The funds for the improvements are placed in escrow and rolled into the 
mortgage when the work has been completed after the closing takes place.

Wiese states that this product is not designed for do-it-yourselfers, 
as lenders require a guarantee that costs will not spiral out of 
control.

Homeowners do have the freedom, however, to specify a contractor or 
favorite brand of appliance.

Another unique aspect of the Energy Efficient Mortgage is that the 
amount the homeowner can borrow to make improvements is based on 15% of 
the appraised value, rather than on the equity that is available.

For example, for a $120,000 home, the homeowner could borrow roughly up 
to $18,000 when making improvements.

“The majority of homeowners in America know they are throwing their 
hard earned money away with old windows and inefficient appliances.  
The good news is that you now have the ability to make a change very 
quickly and affordably, and put your money to better use.” Wiese said.

As Fannie Mae’s Bob Sahadi, Vice President for Housing Impact agrees.  
"The savings that can result from energy-efficient homes can make 
homeownership more affordable for individuals and families.  We know 
that those who spend less on energy costs can put more toward the cost 
of purchasing and maintaining a home.  Fannie Mae is pleased to partner 
with Indigo Financial Group to offer such an innovative mortgage 
product.”

Because the Energy Efficient Mortgage can be used on purchases and 
refinances in conjunction with every government and conventional 
mortgage program and it meets all federal lending requirements, it’s a 
familiar process.  That’s why realtors are excited about it as well — 
it gets people into a home and helps them quickly add value to it.

In fact, Carol Shaheen, Managing Broker for Tomie Raines, Inc. sees 
this as a program that will change the very nature of how people buy 
and improve homes. “Buyers can afford a home in a certain price range, 
but often cannot then afford the upgrades needed to make the home 
energy efficient.  The Energy Efficient Mortgage lets them do the 
necessary upgrade above their loan amount.  We would like to see more 
homebuyers take advantage of this innovative mortgage program.  It’s a 
true win/win for the buyers and the environment.”

Indigo Financial Group is a mortgage company based out of Lansing that 
serves the state of Michigan with the Energy Efficient Mortgage.  For 
more information, visit Indigo Financial Group online at 
www.EnergyEfficientMortgages.com or by phone (517) 483-5121, toll-free 
(877) 867-7095.

###

The Energy Efficient Mortgage promotes the design, construction, and 
operation of efficient new homes, and the renovation of existing homes 
to be energy efficient. The Energy Efficient Mortgage closed by Indigo 
utilizes the product developed by Fannie Mae for use by its lender 
partners.

Eligible Energy Efficient Mortgage mortgages closed by Indigo will be 
delivered to Fannie Mae for purchase.  Fannie Mae (FNM/NYSE) the 
nation’s largest source of financing for home mortgages, offers the 
Energy Efficient Mortgage product to its lenders in support of the new 
goals under Fannie Mae’s American Dream Commitment®.  This Commitment 
supports, among other goals, smart "fair growth" principles that call 
for revitalizing communities using existing infrastructure, building a 
variety of housing types and densities for people of all ages and 
incomes, developing housing near mass transit, and building "green" to 
protect the environment and lower home costs.

The American Dream Commitment is a registered mark of Fannie Mae. 
Unauthorized use of this mark is prohibited.


=============================================================ENVIRO-MICH:  Internet List and Forum for Michigan Environmental
and Conservation Issues and Michigan-based Citizen Action.   Archives at
http://www.great-lakes.net/lists/enviro-mich/

Postings to:  enviro-mich@great-lakes.net      For info, send email to
majordomo@great-lakes.net  with a one-line message body of  "info enviro-mich"
=============================================================