Armed Service men and women are often hindered by hardships from full participation in the American Dream of homeownership because their duty disrupts them in the buying and selling of a home. In the past, traveling for active duty made it difficult for members of our armed forced to qualify for the tax credit without penalties.

Thankfully, two special provisions in the present tax credit law assist members of the military, intelligence, and foreign services in taking advantage of the homebuyer tax credit:

1. Armed services members, intelligence service members, 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 to buy their homes, to May 1, 2011.
2. Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years or must forfeit the entire credit. Military, intelligence, and Foreign Service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.

All the other usual qualifications apply to receive the Homebuyer Tax Credit.

I think this is a great addition to the tax credit. Now those who serve our country get to enjoy the same benefits as the rest of us!

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I am proud to help buyers and sellers in the Greater Rochester, New York area find the homes of their dreams. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!