Did you know that the tax credit for home buyers is extended for those in the military? Armed service, intelligence service and foreign service personnel 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, 20ll.
Now, the military personnel that are out of the country or their duty disrupts the timeline for full participation are exempt from the requirement to pay the tax credit back. Most homebuyers must use the home they buy under the program as a principal residence for a period of no fewer than three years or forfeit the entire credit. But if a military person has to sell their home in less than three years because of official business, they are not required to pay the credit back.
I say, this is a well deserved benefit for our active duty military.