California Legislature has passed Governor Arnold Schwarzenegger's proposal (AB 183) to extend the $10,000 first time home buyer tax credit starting May 1, 2010 until December 31, 2010. He is expected to sign the bill soon.

The previous California tax credit limited to a total of $100 million for new home purchases only was exhausted eight months before the proposed deadline. The initial bill credited over 10,000 home buyers. The new bill appears to double the amount assistance.

Highlights of New California First Time Home Buyer Tax Credit

• $10,000 tax credit or 5% of purchase price (whichever is lower)
• First time home buyers only
• New and existing homes are eligible
• $200 million in funds available on a first come, first serve basis
• Credit given in 3 equal payments to a taxpayer's personal income tax returns over 3 year period (up to $3333.33 per year)

When additional information comes available and the bill is actually signed, I will post the updates. This is an extremely rare opportunity to take advantage of the reduced prices in homes, 40 year low in interest rates and to receive an incentive back from the state of California. Now, is the time to make a move. Apply for a loan now!

I'm at it again with my latest video.  I have developed a series of informative, interesting and creative videos called The L.O. Down (pronounced Low).  They are designed to bring you to the point, up to the minute details on a variety of Hot Topics that are abundant in our industry right now. 

This latest creation is giving the LO Down on Adjustable Rate Mortgages.  I sent this to my client database including my Agent Partners & Affinity Partners one week ago.  I have been overwhelmed with the kind comments and genuine interest in my videos, but most of all the video helped create several prospects that need help with their current loan.  This video addresses everything from Negative Amortizing loans to Sub Prime 2 or 3 year fixed loans that have adjusted to the possibility of a Loan Modification.  It opens the door for those attempting to find a solution to their loan problems and for those seeking answers to questions that are difficult to find.   Many people are reluctant to open the door on their ailing mortgage or ask these tough questions; therefore I wanted to bring the topic to the forefront again and help those in need.

 

I sent this video to my database on Friday May 9th.  This is good info and should help a ton of people in regards to Foreclosures and/or being "underwater" on their loans.  I will post again once these initiatives have been passed and enforced to inform you on where to go to take advantage of it.

 

I welcome any and all comments and please forward to a friend that may benefit from this information.

There I was, knee deep in the trenches trying to find the right set of marketing tools to kick start my business for the Spring Purchase Season and Boom!  I found it.  I was actually helping a friend research a True Net Branch Mortgage Company and I came across the TBWS Daily.  I started watching these guys in the morning to begin my day since I'm a Loan Officer too and it just unfolded from there.

Active Rain appeared on the TBWS Late Night a few weeks back on April 10th and that's where I saw Brad Andersohn explaining the benefits of being an AR Member.  I immediately signed up for AR, filled in my profile after viewing a few other LO's, Paul Dunn and Hans Bruhner.  I invited a few of my friends to become members and they joined.  My Points were racking up and I was hooked.  Now one of my new goals is to be ranked in the Top 5 in Temecula, CA.

So now, I've got TBWS and Video Marketing, Active Rain as my social network and ePropertySites.com as my main Marketing System for Realtors.  How in the heck do I combine them all to work together to help generate some interest and maybe even some business?  Brad A. tells me to go ahead and Blog It.

 

This is my very First Post on AR.  I hope you enjoy. Move your mouse over the screen and push the Play button

Subscribe to my Video Emails or Forward to A Friend.

I have no idea what this will do if anything for others out there, but I appreciate any feedback that you have.

My Website has some additional videos.  Be sure to check back once in a while as I will be uploading new videos often - FTHB Seminar, FSBO Marketing, etc.

Have an awesome weekend!

Jonas Kruckeberg - www.quickloanplan.com