Eco Home Financial and Your Ontario HVAC Contract
A finance entity that holds and collects on long-term Ontario home equipment agreements, related to but distinct from the EcoHome installer brand.
Eco Home Financial is a finance entity that holds and collects on a large number of long-term Ontario home equipment agreements — covering furnaces, water heaters, heat pumps, air conditioners, HEPA air purifiers, and water filtration systems. The entity is related to but distinct from the EcoHome installer brand; payments are frequently collected by Eco Home Financial after the original sale by an installer.
Under Ontario law, when an underlying agreement is challengeable because of how it was sold, the rights of the assignee are no greater than the rights of the original seller. A contract held by Eco Home Financial can still be addressed.
Our position is not that Eco Home Financial engaged in wrongdoing at the original sale. Our position is that the underlying agreement may have been unenforceable from the start under the 2018 amendments.
Also known as: EcoHome Financial.
What These Contracts Typically Look Like
- Long terms — typically 10 years or more
- Payments collected by Eco Home Financial after assignment
- Total obligations far in excess of the equipment's installed value
- Property registration on title (NOSI prior to 2019, or similar lien-style filings) placed at the time of the original sale
- Buyout amounts that remain high for most of the term
What We Hear from Homeowners
- Statements arriving from Eco Home Financial without the homeowner realising the contract had been assigned
- Difficulty getting clear answers on how to end the agreement
- Buyout figures disproportionate to the equipment's value
- Lien on title discovered at refinance or sale
Which 2018 Amendments Are Likely to Apply
The 2018 amendments to Ontario's Consumer Protection Act identify several practices that can render an HVAC agreement unenforceable. Where the underlying agreement (now held by Eco Home Financial) was originated through any of these practices, the same conclusions apply:
Unconscionable Pricing
Pricing set in the original agreement remains subject to the 2018 amendments after assignment.
Unsolicited Contact
If the original sale was at the door, the agreement may be unenforceable, and that conclusion travels with the contract.
Misrepresented Energy Savings
Misrepresentations made at the original sale remain part of the contract record.
Unfulfilled Rebate Promises
Promised rebates that never paid out remain part of the underlying contract record.
Only one of these grounds needs to apply for the agreement to be challenged successfully.
What to Do If Eco Home Financial Is Collecting on Your Agreement
- 1Locate the original installer agreement, not just Eco Home Financial statements.
- 2Photograph the data plates on the installed equipment.
- 3Check your title for any registration.
- 4Let us address Eco Home Financial and the original installer on your behalf.
- 5Book a free, confidential review.
Is the Underlying Agreement Behind Your Eco Home Financial Statements Enforceable?
If Eco Home Financial is collecting on your home equipment contract, the underlying agreement may still be challengeable.