$8,000 or $6,500 Tax Credit Still Available to Qualified Service Members

Extension of Tax Credit Deadlines

The home buyer tax credit is available for qualified purchase with a binding sales contract in place on or before April 30, 2010 and closed by September 30, 2010. 

However, for qualified service members who are ordered on a period of official extended duty, these dates are extended.  For thes home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011.

A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official duty outside of the United States may qualify for the one-year extension.

Definitions

"Qualified service member" means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community.

"Official extended duty" means any period of extended duty outside of the United States for at least 90 days during the period begining after December 31, 2008 and ending befroe May 1, 2010.

Plus you may be able to take avantage of a reduced purchase price on a foreclosed home in many neighborhoods.  For example: (foreclosed homes are selling up to 25% below the average asking price).  You may also take advantage of seller concessions for most homes on the market for sale. 

  • December 17 2010 - Newport News
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