Special Provision for Military Buyers

McGuinn Homes supports the special exemption for members of the U.S. military that was recently announced. The Obama administration’s first-time home buyer credit extension features a provision for soldiers forced to sell or vacate their home under certain specified circumstances. Soldiers serving outside the U.S. received an extension until April 2011 to claim the $6,500 - $8,000 tax credit. “We are proud to support our military service personnel, and glad the administration has chosen to extend this special provision to them in response to their sacrifice as they serve,” said Wade McGuinn, owner of McGuinn Homes. For non-military personnel, the extended tax credit expires in April 2010. President Obama signed the Congress-approved extension into law, including several changes that add millions of Americans to the ranks of those who qualify. Now, even buyers who are long-time home owners can qualify if they purchase a new home prior to April 30th. The limitations on income have also been increased, allowing more buyers to qualify.