FTHB Credit is Extended for Miltary Personnel
There are some special benefits to military personnel when it comes to the First Time Homebuyer Tax Credit. As it stands for the general public, you must be under contract by April 30 and settle on your new home by June 1, 2010. However, Armed Forces members, intelligence service and Foreign Service personnel who are on active duty and out of the U.S. for 90 days during any part of 2009 get an additional year of eligibility, to May 2011. In addition to the extension of time, these groups will not have to repay the credit if they are required to sell their home after less than the 3 year time period for occupancy if due to official business. I love it when our military service people are taken care of for all they do for us and our country.