Jason's Blog

CA State Tax Credit Update!!--No new applications

Jason Hector (Action Investments) — Wed, 12 Aug 2009 18:20:49 -0500

The Franchise Tax Board (FTB) announced today that it will stop accepting applications for the new home tax credit at midnight tonight, Thursday, July 2, 2009.

New tax law allocated $100 million of tax credits made available to roughly 10,000 qualified buyers who on or after March 1, 2009, purchased a qualified principal residence that had never been occupied. This credit is equal to the lesser of five percent of the purchase price or $10,000. The buyer must reside in the new home for at least two years immediately following the purchase date.

To ensure that enough valid applications were received to properly allocate the full $100 million available for this tax credit, FTB accepted 12,000 applications. However, FTB will only issue approved credit certificates until the $100 million is exhausted. The credit is being allocated on a first-come, first-served basis.

For more information, visit FTB's Tax Credit for New Home Purchases webpage at www.ftb.ca.gov.

Home Buyer Programs Available Including Down Payment Assistance, Federal Tax Credit, and Low Down Payment First Mortgages for First Time Buyers

Jason Hector (Action Investments) — Thu, 16 Jul 2009 15:38:02 -0500

American Dream Down Payment Initiative (ADDI) - 6% Down Payment Assistance for Low Income First Time Homebuyers within the City of Los Angeles.
City of Los Angeles Housing Department’s Mortgage Credit Certificate Program (MCC) – Allows an eligible homebuyer to claim an annual federal income tax credit and is applied to a portion of the total mortgage interest paid every year for the duration of the first mortgage loan.
Neighborhood Stabilization Program – Up to $75,000 for low income and $50,000 for moderate income when purchasing foreclosure or foreclosed properties located within the NSP Priority Area.
2009 Federal Tax Credit (IRS Form 5405)- The tax credit does not have to be repaid. The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Income limitations apply.
FHA (Federal Housing Administration) Loans – Offers a first mortgage with 3½ % down payment required and up to 6% in seller paid closing costs or repairs.

Please Search for Homes and feel free to contact me at 818-357-9658. Jason

Using IDX Links to Optomize Your Blog

Jason Hector (Action Investments) — Thu, 16 Jul 2009 15:21:26 -0500

By using a feature called rDesk, you can use IDX links to a custom search feature, to your listing, and a map search.

For example...here are the new links which I will be adding to my profile and future blogs.

Search for Homes

Thanks, Jason Hector

Where is Chase Home Retention Dept

Jason Hector (Action Investments) — Sat, 11 Jul 2009 19:39:45 -0500

I see that a fellow realtor is asking for the phone number for Chase's Short Sale Dept. Are there different short sale departments because I thought all of the short sales would be handled by the same departments.

I have 1-866-550-5705 as the Home Retention Dept. They should do both Loan Modifications and Short Sales. Another number I have is for FAX Third Party Authorizations 602-535-3866. Hope this is useful.

Chase Mortgage Help Site

Chase also has opened several locations for homeowner assistance including one in Glendale, CA.

For information about Loan Modification and Home Buyers Looking for a Realtor, visit my site at www.jasonhector.com

Soon to be coming, my new site will be www.loanmod-la.com

Web Site Grader lets you see how you stack up against your Competition

Jason Hector (Action Investments) — Tue, 07 Jul 2009 19:41:57 -0500

Someone gave me a link to a great site for SEO or Search Engine Optomization. This site ranks you on much of the same criteria used by search engines on a scale or 1 to 100. I did a search for my site, www.jasonhector.com and it ranked 61 which is not bad when my formal competition is ranking 71 (I won't say who) but they are a well established agent in my community.

Just visit www.websitegrader.com and put your site and your competitors site to see what they are doing and what you can do to improve your site for search engines to find you.

About Action Investments--Real Estate and Loan Modification

Loan Modification Services-I am helping homeowners to modify the terms of their loan so they can afford to keep their homes. Avoid Scams by working with a California Department of Real Estate Licensed Broker who has received a "no objection" letter allowing them to collect an Advance Fee. Check the CA Real Estate License Status and Advance Fee Listing before enlisting the help of a broker.

Action Investments and Jason Ian Hector (Lic. # 01481898) has received a "No Objection" letter from the California Department of Real Estate and may collect an advance fee for loan modification services.

Short Sale Negotiator-I am also assisting in short sale transactions by handling the short sale negotiation with the first and second lenders.

Buyer's Agent-I am working with homebuyers throughout Los Angeles County and more specifically Burbank, Glendale, San Fernando Valley, Simi Valley and West Los Angeles. There are several great programs for first time home buyers in the San Fernando Valley area. Also, for those purchasing your new home for the first time, there is the 2009 Federal Tax Credit of up to $8,000. Get pre-qualified now so you can buy before the Tax Credit expires Dec. 1, 2009.

As a California Real Estate Broker, I am the broker owner of Action Investments and have passed the more difficult exam in 2005. Also, I have retail banking experience of six years, and real estate investment experience since 2001.

Serving the following areas

San Fernando Valley including Northridge, Granada Hills, Glendale, La Crescentia, Simi Valley, Chatsworth, Burbank, Van Nuys, Reseda, Sherman Oaks, Encino and surrounding areas. Los Angeles Area including West Los Angeles, Beverly Hills, Hollywood, Santa Monica.

Now is the time to take advantage of the buyers market. Take advantage of the many choices to find that special property. As a real estate broker, investment property owner, and former retail banker, I am ready to bring all of my knowledge to work for you. Just email me at jhector@socal.rr.com with your specific real estate criteria and I will respond to you that same day.

REALTOR® Code of Ethics

Real Estate Affiliations

Southland Regional Association of Realtors

Member of Education and Housing Committee

Chair of the Promoting Affordable Housing Sub-Committee

California Association of Realtors

National Association of Realtors

My Profiles, Websites and Real Estate Blogs

Real Estate and Loan Modification Home Page

Yahoo Local Business--Action Investments

Google Local-Real Estate and Loan Modification

Jason Hector's Active Rain Profile

Jason's Active Rain Real Estate Blog

Real Estate and Loan Modification Blogger

Trulia--Action Investments Real Estate Blog

CalHFA Conventional Loan offers upto 95% financing.

Jason Hector (Action Investments) — Mon, 06 Jul 2009 22:17:29 -0500

Great news!!! CalHFA now has funding and is offering the 95% first mortgage which can be combined with upto 3% of the purchase price for down payment assistance with the CHDAP program.

CalHFA Cal30-The Cal30 Conventional loan offers up to 95% financing. This first mortgage loan may also be combined with CalHFA junior loan programs for down payment and closing cost assistance to make owning your first home more affordable.

California Homebuyer's Downpayment Assistance Program (CHDAP)
Offers a deferred-payment junior loan of an amount up to the lesser of three percent (3%) of the purchase price or appraised value.

Tax Credit to First Time Home Buyers

Jason Hector (Action Investments) — Sun, 26 Apr 2009 16:07:09 -0500

$8000 Federal Tax Credit for First Time Homebuyers-2009

In its efforts to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for first-time home buyers.

The tax credit is for first-time home buyers only.

The tax credit does not have to be repaid.

The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.

The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

IRS Form 5405 can be found at http://www.irs.gov/pub/irs-pdf/f5405.pdf.

City of LA receives Stimulus money to be given out to homebuyers soon

Jason Hector (Action Investments) — Sun, 26 Apr 2009 16:04:45 -0500

Attention First Time Homebuyers--New Program Available

Great news as there is a new down-payment assistance and rehabilitation funds available from the federal government (HUD) via the City of Los Angeles

Complete information is available at the City of LA Housing Dept website (LAHD) or on this link at http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=93

This program is for homes in foreclosure within certain areas. You can check if the property is within the map by searching on the LAHD website here http://lahd.lacity.org/nsp/.

Here is a link to the 2 page brochure summary http://lahd.lacity.org/nsp/PriorityFile.aspx?Type=94.

This program is a great program for homes which need repairs since they will provide upto $50,000 for approved repairs. There are additional requirements such as 8 hour home buyer education course, HUD inspection, enviornmental report, and others.

Loan Modification Consumer Alert for Realtors as well

Jason Hector (Action Investments) — Wed, 11 Feb 2009 00:31:51 -0600

I heard today at my local Housing Committee Board meeting that many realtors are claiming to be Loan Modification specialists. Just thought I would share some things I have learned recently on the issue.

1. Only licensed real estate brokers who have had their advanced fee agreement approved by the CA Dept of Real Estate may charge an advanced fee.

2. Without an approved advanced fee agreement, brokers can only accept payment for services after the modification has been complete.

3. Brokers can assist in loan modifications only if there has not been a notice of default filed.

Please see the Consumer Alert Below from the DRE.

Consumer Alert - Advance Fees and Loan Modification Services

If you are behind in your mortgage payments, you may be contacted by individuals or companies that will offer to help you work out a loan modification with your lender or provide other services to you in order to help you prevent a foreclosure on your home.

You must be very careful if you are asked to pay for any of these services in advance, whether in cash, check or by charging your credit card. First, California Civil Code Section 2945, which regulates "foreclosure consultants", forbids anyone who falls under the definition of a "foreclosure consultant", as well as a real estate licensee, from collecting any advance fees for these types of services if a Notice of Default has been recorded against your property. If your lender has recorded a notice of default, do not pay an advance fee to a real estate licensee, or to any person or entity. California licensed lawyers when rendering services in the course of their legal practice(s) are exempt from this prohibition. There are non-profit agencies that can assist you without charging you a fee and real estate licensees who can represent you for a fee to be paid after they have completed their work. For information on non-profit housing counseling services, use the following links:

If a Notice of Default has not been recorded against your property, it may be permissible for a real estate broker to assist you in working out a loan modification or otherwise negotiate a possible resolution to your problem with your lender or loan servicer and ask you for payment in advance for their services. However, the broker must have you sign an agreement that tells you what services will be performed, when they will be performed and how much you must pay. The broker cannot have you sign an agreement until it has been submitted to the Department of Real Estate for review and the broker has received permission to use it and collect the advance fee.

The following individual and corporate real estate brokers have submitted advance fee agreements for loan modification and/or similar services to the Department of Real Estate for review, and have received "no objection" letters regarding their use. You can obtain information on brokers and their locations by clicking on the "License Number" on the listing below or call (916) 227-0770.

Advance Fee Agreement Listing

The Department of Real Estate does not approve, endorse, recommend or make any representations about any of the agreements or their terms, or any aspect of a licensee's business activities. Consumers wishing to contract with a real estate broker for loan modification or any other similar or related services should carefully review the agreement(s) and consider obtaining independent advice before signing an agreement(s) or advancing any fees. Consumers should also consider comparing the services and fees offered by other licensed brokers on the list.

Note: Licensed real estate brokers who provide loan modification or similar services without collecting fees in advance are not required to receive the Department of Real Estate's permission as long as their services are fully completed before you pay them.

The list is updated on a periodic basis and may not include those which have recently completed the review process.

Update! Stimulus Advances With Tax Credit Changes

Jason Hector (Action Investments) — Wed, 11 Feb 2009 00:18:43 -0600

According to the Realtor Report, "The $790 billion stimulus package hammered out by House and Senate conferees late yesterday increases the home buyer tax credit to $8,000, from $7,500, and drops the repayment feature for buyers who hold on to their property for at least three years.

The legislation also extends the effective date of the credit to December 1 from June 30, and extends eligibility to borrowers who buy their home with the help of state or local financial assistance that comes from the proceeds of tax-exempt mortgage revenue bonds.

The credit remains open only to first-time buyers (those who haven't owned in at least three years) and some income eligibility restrictions apply, but those are unchanged from the existing program.

2009 Federal Tax Credit (IRS Form 5405)- The tax credit does not have to be repaid. The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009. Income limitations apply.

Bailed out banks will have to do loan modifications!!!

Jason Hector (Action Investments) — Sun, 08 Feb 2009 20:51:02 -0600

Great news has come from the treasury dept..."Treasury Secretary Timothy Geithner on Saturday told lawmakers that financial institutions that receive government assistance will have to make loan modifications and meet other new standards, according to Democratic sources."

This is great news for homeowner who might be facing foreclosure. I am very busy working with homeowners who need loan modifications and this is becoming a large part of my business. I applaud the Treasury Dept if they take a strong stance on forcing these abusive loans to be redone with more fair and reasonable terms to the borrower.

California Budget Woes cause Temporary Suspension of Some CalHFA Programs

Jason Hector (Action Investments) — Fri, 23 Jan 2009 21:16:41 -0600

Temporary Suspension of Some CalHFA Programs

The Pooled Money Investment Board (PMIB) voted on December 17, 2009 to defer all bond expenditures from the Pooled Money Investment Account (PMIA) until the State's budget shortfall is resolved. This freezes any disbursements from the PMIA until they meet again in January 2009.

The result of this is that CalHFA must temporarily discontinue several programs. CalHFA will suspend purchases of 30-Year Fixed Rate Mortgages until we receive an update and clarification from the PMIB. CalHFA will also temporarily discontinue the Extra Credit Teacher Home Purchase Program (ECTP), California Homebuyers Down Payment Assistance Program (CHDAP), School Facility Fee Down Payment Assistance Program (SFF) and Affordable Housing Partnership Program (AHPP).

Please note that the 100%-financed Community Stabilization Home Loan Program (CSHLP) and SMART Program will still be accepting loans through the usual channels. Down payment assistance from non-CalHFA sources will continue to be accepted.

Here's a list of programs currently available:

· American Dream Down Payment Initiative (ADDI) - 6% Down Payment Assistance for Low Income First Time Homebuyers within the City of Los Angeles.

· City of Los Angeles Housing Department's Mortgage Credit Certificate Program (MCC) - Allows an eligible homebuyer to claim an annual federal income tax credit and is applied to a portion of the total mortgage interest paid every year for the duration of the first mortgage loan.

· SRAR First Time Home Ownership Grant - Southland Regional Association of Realtors currently offers a $4000 grant to low- and moderate-income buyers who purchase a home in the San Fernando Valley. Funds are available after the close of escrow and there are no repayment requirements.

· FHA (Federal Housing Administration) Loans - Offers a first mortgage with 3½ % down payment required and up to 6% in seller paid closing costs or repairs.

Contact: Jason Hector, Real Estate Broker (818) 357-9658

jhector@socal.rr.com
www.jasonhector.com

Will Barak Obama help homeowners prevent more Foreclosures???

Jason Hector (Action Investments) — Tue, 18 Nov 2008 21:02:32 -0600

Right now we are giving money to banks with so called "Liquidity Injections" in hopes that they will do more lending. Doesn't seem to be working because they will just hoard the cash till they know the future is brighter.

Loan Modification will be the primary focus with Regardless, I'm thinking that Barak Obama will be more helpful to homeowners facing foreclosure.

Some of the proposals which are likely to be a government proposal to cover as much as 50% of the losses on modified mortgages. Wow, another handout to the banks. Why shouldn't they just take the loss

Check Obama's site for info on foreclosures Obama, http://www.barackobama.com/2008/03/27/how_not_to_prevent_foreclosure.php

What are some of the proposals you think will be passed during the Obama administration?

Let's hope that we can get through these massive layoffs and job losses.

FHASecure Program Experiences...Anyone???

Jason Hector (Action Investments) — Sat, 15 Nov 2008 23:00:02 -0600

This new program seems to be a great foreclosure prevention strategy by the FHA. I found this great information sheet on the FHA website I'd like to share. Here is the link:

http://portal.hud.gov/pls/portal/docs/PAGE/FHA_HOME/LENDERS/MORTGAGEE_LETTERS/2008_MORTGAGEE_LETTERS/08-13MLATT.DOC

So far, I had a prospect for this program however, unfortunately, their loan size was too high. Used this link to help you sort through the cases to see if your client might be eligable for the FHA Secure Program.

Anyone who has a success story to share, please do since that's what we wan't to hear. Happy Active Rain Blogging!!!

Fannie Mae and Freddie Mac to mitigate foreclosure...any comments or experiences to share

Jason Hector (Action Investments) — Sat, 15 Nov 2008 22:52:04 -0600

Great news this week from our Government to help those who are more than 90 days late on their mortgage. Let's keep track on Active Rain if the results are as promissed and people are having any luck.

According to the CAR Market Matters Advisory, "The Federal Housing Finance Agency (FHFA) this week announced a new government program to help mitigate foreclosures on loans owned or guaranteed by Fannie Mae and Freddie Mac. The program is targeted toward borrowers who are at least 90 days delinquent in their mortgage payments and have a high loan-to-value ratio. Reduced interest rates and longer terms of as much as 40 years may be offered to qualified borrowers. Some economists believe that areas such as California, Florida, and other high-cost areas will benefit the most from the program due to larger debt loads and higher rates of nontraditional mortgages".

Anyone who has been working with this program please let the rest of us in on the news. Happy Blogging!!!

Foreclosure Prevention Assistance Program with Citibank

Jason Hector (Action Investments) — Sat, 15 Nov 2008 22:11:12 -0600

CAR’s mortgage update shows that “Citigroup is expanding its foreclosure prevention efforts by establishing a new program, Citibank Homeowner Assistance Program, which only is available to homeowners who are current on their mortgage payments, but at risk of defaulting. Citibank Homeownership Assistance Program will reduce monthly payments, including property taxes and insurance, to 40 percent or less of the borrower’s income. The mortgage modification program will freeze or reduce interest rates, extend the terms of the loan, and possibly reduce the loan principal.”

s new program is a great way for people to stay in their homes and get a mortgage they can actually afford. Good luck with this program and anyone with experience, please leave your story or feedback. Thanks, Jason

Tips to Search Engine Optimizatize Your Active Rain Blog

Jason Hector (Action Investments) — Sat, 15 Nov 2008 21:07:01 -0600

Blogs are just like web pages and are read by the search engine according to these factors. Your text should include the following:

1. Keep you text length around 100 to 250 words to make it easy to read by both your audience and search engine robots.

2. Use Bold, Italics, Upper Case, and links to point out to search engines the importance of those specific keywords.

3. Put Keywords in a bulleted list somewhere on the page to stress the importance of those words.

4. Find out what keywords are being used most often in peoples searches and make a point to follow item #2 above. A free Keyword Tool tool like Word Tracker will be helpful to find out what people are searching for.

5. Try to do one content or text page or blog per day. Happy Blogging!!!

Using directories to help optimizing your website.

Jason Hector (Action Investments) — Sat, 08 Nov 2008 19:22:05 -0600

I'm now reading Search Engine Optimization for Dummies and what a great book for realtors with websites. I learned the value of directories.

For one, I learned how to find out if your site is recognized by the major search engine. All you have to do is go the search window for the site. For example my website is www.jasonhector.com. I go to www.google.com and in the search box type the following: site:jasonhector.com. This will tell you how many pages Google has their directory.

Try the other major websites too.

1. www.yahoo.com

2. www.msn.com

3. www.ask.com

4. www.dmoz.org

If you are not recognized by these search engines, submit your site so that people can find you on the internet. Good luck and happy blogging.

Top 5 Myths of Bank Owned Properties (REO's)

Jason Hector (Action Investments) — Tue, 21 Oct 2008 12:13:27 -0500

Top 5 Myths of Bank Owned Properties (REO's)

The bank is very motivated to sell these properties. Usually they are not that motivated, typically leaving the properties on the marked for several months at a high listing price.
Bank owned properties are cheaper than regular properties. The bank owned properties are usually cheaper because the condition is worse.
I can easily buy a bank owned property with a low money down loan. Not really in this market. Banks are usually not willing to accept any offer unless there is a down payment of 20%.
I need to talk to my local banker to get a list of bank owned properties. Not anymore. Maybe in the old days but now there are investors, asset managers, etc and much of it is outsourced.
The banks will accept low offers because they need to sell the property fast. The banks are very willing to wait until they get what they feel is a reasonable offer. Kinda the same as #1.

Anymore that you can add, please feel free. Thanks, Jason

How to get short sale approval from the lender.

Jason Hector (Action Investments) — Tue, 07 Oct 2008 13:46:28 -0500

What is a complete short sale package??

When I speak with the people working in the short sale departments, the most common problem with the packages they receive from agents is an incomplete package. What makes a complete package?

1. The financials from the borrower including tax return, W2 or paystub, recent bank statements, list of their expenses, list of assets if any.

2. Hardship letter from the borrower. The "reason for default" letter should draw tears from the lender if possible. Be careful, however not to exagerate or lie on this letter. Any supporting documentation including proof of job loss, proof of hospitalization or disability or any other evidence of hardship.

3. Complete purchase offer for the property. Most lenders will not take the time to review a short sale package without a purchase offer on the property. Make sure the buyer is aware of the response time from the lender which is sometimes two months. Check with the lender for the response time.

4. Comparable are sometimes required before they order a brokers price opinion.

5. Net sheet showing the bottom line going to the lender. This should include the first and second lender.

6. Listing agreement signed by the seller.

Keep in mind this is the basic requirements and there are other documents that may be required. Check with your lender and ask them for their criteria on short sale approval. Good luck.

Will posting to more groups get me more comments on my blog???

Jason Hector (Action Investments) — Thu, 02 Oct 2008 02:19:52 -0500

Just a newbie question here. I'm working on my blogging and having fun but still learning.

I noticed that some blogs are being posted to several groups, like 30 or 40 groups. Is this possible because I find that I am limited to just 5 groups. Also, how do you post to a specific geographic area.

Any advise on how to post to more groups so that you can get more exposure for your blog?

How do short sale negotiators usually get paid and how much???

Jason Hector (Action Investments) — Wed, 01 Oct 2008 02:32:13 -0500

I am working with a short sale negotiator on a purchase transaction and they are charging a 25% referral fee for the entire commission. It doesn't seem right to me. Isn't the short sale negotiator working for the seller only? Wow, experience does have it's price.

On the positive side, the negotiator already had approval from both lenders. The first and second are with different lenders. Looks like he has been working on this transaction for several months. I'm not doubting that it is a well deserved referral fee, just curious about other peoples experiences. Your feedback is greatly appreciated.

Blog removed from AR Newbies!!! Help?

Jason Hector (Action Investments) — Wed, 01 Oct 2008 02:07:14 -0500

I guess this proves my newbie status. Perhaps some of the more experienced AR users can give me some suggestions on how to avoid my blogs from being removed from AR Newbies.

This is my favorite group because when I started bloggin on AR, I got so many comments on my blog. With your help, I can learn what is the content for AR Newbies. Help please.

Buyer's are coming into the market now--San Fernando Valley, CA

Jason Hector (Action Investments) — Wed, 27 Aug 2008 14:06:24 -0500

Multiple Offers on Bank Owned and Foreclosures

It seems like the people who were on the sidelines are now coming out and buying. A recent foreclosure was listed at $230K a little below market value and received 18 offers within a week. The accepted price, however, was $290K. This goes to show how this strategy of pricing low works well for generating activity and ultimately a higher price for the seller.

For the buyers, it seems like those who continue to wait and expect a further worsening of the housing market may be left behind. The fact that multiple offers are coming in on several of the homes now shows that the competition is fierce here in the Los Angeles and San Fernando Valley area.

According to Southland Regional Association of Realtors, "There were 6,950 active listings throughout the San Fernando Valley at the end of July, down 3.4 percent from a year ago. Of that total, single-family homes accounted for 75 percent of the active listings. At the current pace of sales, the active inventory represents a 7.5-month supply - slightly higher than the 5- to 6-month supply deemed to represent a balanced market.

By comparison, the inventory during the recession of the 1990s hit a record high of 14,976 in July 1992 and the inventory compared to pace of sales was three-times higher at a 23-month supply. Contrary to an inaccurate public perception, the active inventory in the San Fernando Valley has been trending lower since November 2007 when it stood at 7,505."

This reminds me of Economics 101...supply and demand equilibrium or efficient market theory. I believe that we have at least found some equilibrium or at least the return of an efficient market. Great news for everyone!!!

However, everyone wants to know..."Have we reached the bottom yet???"

First Time Homebuyer Tax Credit--Great news for buyers!!!

Jason Hector (Action Investments) — Tue, 26 Aug 2008 03:11:58 -0500

What a great help this tax credit will be for buyers who are having difficulty affording their first home. With all the headlines about the so called credit crisis, it is nice to see that there are incentives being put in place for first time homebuyers.

The Housing Stimulus Bill is offering a $7500 tax credit that would be available for any qualified purchase between April 9, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan)

Combine this tax credit with the current down payment assistance programs available in Los Angeles, Orange and Ventura Counties to get 100% financing and upto a $7500 tax credit. Let's spread the word.