While the home buyer tax credit expired on April 30th for most home buyers, our country’s service members have another year, or until April 30, 2011, to find a home.
Congress has extended the tax credit for service members because many may have missed on it the first time due to their assignments. The law provide qualified service members who served on official extended duty outside of the United States for 90 days or more at any time between January 1, 2009 and April 30, 2010, another year to buy a home and claim the credit.
Those qualified service members who are eligible for the home buyer tax credit now have until April 30 2011, to sign a sales contract and until June 30, 2011 to settle and close on the home. This includes both the $8,000 first-time home buyer and the $6,500 repeat home buyer tax credits. For more information about this tax credit, visit www.FederalHousingTaxCredit.com.
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