August 9, 2008 Mara Bushari

Under the new housing bill, buyers who have not owned a home in the previous threes years will be eligible for a tax credit of 10 percent of the property, up to a maximum of $7,500. Here are some details:

-The credit is $3,750 for married couples filing separately and unmarried people who file jointly can divide the $7,500 credit.

-The credit is actually a loan, which home buyers must repary over 15 years at a zero percent interest rate. Payments on the loan will begin in the second year after the purchase.

-The credit only applies to homes purchased on or after April 9, 2008 and before July 1, 2009.

-High-income buyers do not qualify. The benefit begins to phase out for single filers with an adjusted income of more than $75,000 and $150,000 for joint filers. It completely cuts off at $95,000 for singles and $170,000 for couples filing jointly.

Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

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