Qualified military service members have one extra year to take advantage of The Homebuyer's Tax Credit of up to $8,000 for first-time buyers and up to $6,500 for certain repeat buyers. This means qualified military members must be under contract on a purchase by April 30, 2011 and close on the deal by June 30, 2011. This benefit is a result of the Worker, Home Ownership, and Business Assistance Act of 2009, which was signed into law by President Obama on November 6, 2009.

Home Buyer's Tax Credit has expired for all Americans, except for three groups: the men and women of the uniformed services of the U.S military, members of the Foreign Service of the U.S., or employees of the intelligence community who are actively serving outside of the U.S. on "official extended duty." Official extended duty is defined as any period of extended duty outside of the United States for at least 90 days during the period beginning December 31, 2008 and ending before May 1, 2010.

Qualified military buyers can also utilize this tax credit along with other available benefits from the Department of Veterans Affairs (VA).

To be a qualified first-time home buyer and receive a tax credit of up to $8,000, the buyer and his or her spouse cannot have owned a home in the last three years. Unlike the Home Buyer Tax Credit for civilians, however, the maximum purchase price of a home is $800,000 under this program – anything over that and the tax credit is invalid. The credit phases out for individual taxpayers with modified adjusted gross income (MAGI) between $125,000 and $145,000 or between $225,000 and $245,000 for joint filers.

To be a qualified "repeat buyer" or non first-time buyer and receive a tax credit for up to $6,500, a buyer must have lived in his or her current residence for five out of the last eight years. The rest of the requirements are generally the same as the $8,000 tax credit.

To take advantage of this benefit, click here to begin the process of buying your first home.

Sunday, June 13th [1:00-4:00pm]

NHS Community Development Corp. is hosting an open house for the following buildings in Brownsville and East New York, Brooklyn.

663 Blake Avenue, Brooklyn (Near Pennsylvania Ave.)
2486 Pitkin Avenue, Brooklyn (Near Sheppard Ave.)
580 Livonia Avenue, Brooklyn (Between Georgia Ave. and Sheffield Ave.)
582 Livonia Avenue, Brooklyn (Between Georgia Ave. and Sheffield Ave.)

NHS Takes Over Times Square to Kickoff NeighborWorks® Week 2010

The staff, board members and volunteers of NHS will take over Times Square on Friday June 4th to raise awareness about loan modification scams and to kickoff National NeighborWorks® Week, a weeklong celebration of the accomplishments of the NeighborWorks® network.

During National NeighborWorks® Week, June 5–12, Neighborhood Housing Services of New York City and its affiliates throughout the five boroughs will mobilize thousands of business people, residents and government officials in a week of neighborhood change and awareness. They will rehab and repair homes, paint and landscape properties, recognize successful partnerships and host a number of events that educate, train and inform. In 2009, more than 4,700 families benefited from the week’s activities nationwide.

Wednesday, June 9th [6:30-8:00pm]

2073 Adam Clayton Powell Blvd,
New York, NY (Near W. 124th Street)

NHS Community Development Corp. is now accepting applications to purchase a fully renovated mixed use building in Harlem. This building is located on a well traveled street in central Harlem only steps from 125th Street and a short walk to shops, restaurants, museums, jazz clubs, and the world famous Apollo Theater. It is accessible by the A,B,C,D,2,3 subways and commuter rail. This "Green" building is energy and water efficient and is expected to earn NYSERDA Energy Star Certification.