Dear Military Personnel or Family or Friend of the Military:
I have just been made aware that it may be possible for you to still take advantage of the first time home buyer tax credit. There may be an extension for military personnel who were overseas. Please see details below:
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. 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.
I would be happy to help you look for your new home. Interest rates remain low and the inventory is high, so the time is perfect to find that new home.