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Homebuyer Tax Credit Adds Benefits for Armed Services

Posted: December 09, 2009

Here is an update for those trying to qualify for the homebuyer's tax credit - the most recent extension of the homebuyer's tax credit is also extended to those in the armed services. Specific categories include armed services, intelligence services, and foreign service personnel to be eligible for the credit. In addition to being eligible, military personnel also have some extra benefits.

The first benefit is that the deadline to qualify for the credit would be extended to May 1st, 2011. The second perk is a waiver of sorts on the occupancy requirement. Traditional guidelines state that a homeowner must reside in the new home as a primary residence for a minimum of three years to keep the credit. With military personnel, if the home is sold again within that three year period, the credit is still allowed, as long as the person is moving for official business. 

With so many members of the military/armed services residing in the U.S., including Naples, Bonita Springs, and Fort Myers, it's great to know that they too will be able to participate in the goal of homeownership. 

As always, please feel free to contact me at 239-357-9558 with any of your Real Estate needs or questions. Rgds, Jay

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