President Bush recently signed the “Housing and Economic Recovery Act of 2008″ into law.

In February, 2008, the “Economic Stimulus Act of 2008″ was signed, temporarily raising the conforming loan limit in high-cost areas to $729,750 from $417,000 until December 31, 2008.  In January, 2009, the bill will allow for the permanent increase of the conforming loan limit to $625,500.

The Home Buyer Tax Credit is a $7500 tax credit that would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan).

This will allow California homeowner’s to refinance their loans into safe affordable loan products and allow first-time buyers to enter the market.

For detailed information regarding this new law go; here

For more information on this building, please contact your sales associate Lynn Geyer; 415-517-3179 or lynn@sfcondoprojects.com