Extended Tax Credit For Service Members.
Service Members Get Extra Year for Tax Credit
Members of the U.S. military, Foreign Service and intelligence communities have another year to purchase a home and claim the home buyer tax credit.
Any service member who is or has been on extended duty for 90 days or more between Jan. 1, 2009 to April 30, 2010, has until April 30, 2011, to sign a sales contract and until June 30, 2011, to close on the property. Both the $8,000 first-time and the $6,500 repeat home buyer tax credits are included in the extension.
The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they receive government orders to move.
USDA Update.
HR 5017 Rural Housing Preservation and Stabilization Act of 2010 has passed the House! The majority of the House (85%), voted in favor of HR 5017.
Once the bill passes the Senate and is signed into law by the president, we will have an additional 30 billion in funding.
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Kevin Kenagy, Senior Loan Officer
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Portland, OR 97239-4232
Direct: 503-313-9072
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KevinK@hyperionretail.com
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