Minnesota Veteran Loan
Minnesota Vets May Qualify for Home Buying Tax Credit Extention
February 11, 2010 by Financemyhome · Leave a Comment
Under the new law-Worker, Homeownership and Business Assistance Act which is now a new law as of November 2009, individuals and there spouses who serve on qualified extended-duty service outside the country for at least 90 days between January 1st, 2009 and April 30th 2010 with have an extra twelve month to buy and close on a home in order to take advantage of the tax credit. So, they would have to buy a new house by April 30th, 2011 and close on this home within a 90 day time frame.
Another cool twist is that the veteran won’t have to pay back any of the credit if he/she has to move at least 50 miles away for new deployment that will be expected to last 90 days or longer.
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