April 30th, 2010, which was the deadline for purchasing a home to be eligible for the $8000 tax credit, is gone. But, the First Time Homebuyers Credit remains in effect and some of us can still take advantage of it.
I had a feeling that some type of extension of the First Time Homebuyers Credit would be put in place for those who serve oversees or “qualified service members”, as the government defines them. This definition includes:
- members of the US military
- members of the Foreign Service of the US
- members of the intelligence community
The extension is valid until April 30, 2011. All the other eligibility criteria remain the same.
I like this piece of legislature. I think it is a very nice way to appreciate those who serve oversees, who missed out on the tax credit because of their job.
Even though we missed out on taking advantage of this credit by a couple of months because of our military orders, we won’t qualify for this extension, since my husband wasn’t stationed oversees (and I am not complaining). And, we decided not to buy a house in CA for other reasons, anyway. There are a lot of men and women serving abroad who will be able to take advantage of this, as they should be able to.
And for those of us who missed out for one reason or another, for all we know there might be more extensions/modifications of this coming. Since the short time it has been enacted, there have already been two. And if not, no big deal! You shouldn’t buy a house just because of government incentives anyway…
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