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$8,000 First-Time Homebuyer Credit to be Extended for Military

The House of Representatives voted 416 to 0 to pass the Service Members Home Ownership Tax Act of 2009 which extends the current $8,000 first-time home buyer tax credit for another 12 months for members of the military, Foreign Service, and intelligence corp who served at least three months of qualified overseas duty in 2009. The program is set to expire on November 30th, 2009 for everyone else and the justification for the extension makes sense. If you’ve been serving abroad for our country, it makes it very difficult for you to look for a house and take advantage of the program. Extending it another year certainly makes sense. At the moment the bill has passed only the House of Representatives, it or a similar bill needs to pass the Senate, then reconciled, then signed by the President before it is law.

http://www.mysahomeresource.com/

Posted Wednesday Oct 21