Wednesday, May 5, 2010

1 year homebuying tax credit entended to Over seas military and govt employees


Great Great Great news for Over Seas Military personal and government employees ONLY who want the chance to utilize the home buying tax credit that was offered. You now have a 1 year extension to take advantage of this great program. The new deadline for you will be to be under contract by April 30th, 2011 and closed by June 30th 2011. For more info visit
http://www.irs.gov/newsroom/article/0,,id=215594,00.html
It applies to any individual (and, if married, the individual's spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. Tax credit is subject to income limitations and other restrictions. Must be either a first time buyer or have not purchased a home within 5 years.
Long-time homeowners who buy a replacement principal residence may also claim a homebuyer credit of up to $6,500 (up to $3,250 for a married individual filing separately). They must have lived in the same principal residence for any five-consecutive year period during the eight-year period that ended on the date the replacement home is purchased.
For more info Consult with a tax professional and lender for full eligibility details.
This info blogged by The Hampton Roads Real Estate Lady!www.DJonesRealEstate.comblog: DJonesRealEstateBlog.infoI can help you relocate NATIONWIDE!

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