Posted by Collette | Posted in Home Mortgages, Tax Credits | Posted on 07-05-2010
Exciting News for Veterans!
The First Time Home Buyer and Long-time Resident Tax Credits have been extended for Military Personnel and certain Federal Employees. Here are the basics:
- You must have been on active duty outside of the US for 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
- The home needs to be under contract by April 30, 2011
- You need to be closed by June 30, 2011
- You must been either a First-Time Home Buyer or Long-Time Resident
Those are the basics of this new law. If you have any other questions feel free to go to the IRS website and see the all the rules and restrictions.
I’ll see you at closing!
