When it comes to tax and duty, it’s always nuisance. For someone who is thinking of buying a new house it may be real hectic because of the termination of home buying tax credit, but the recent extension of the home buying tax credit has brought up in a great piece of relief to everyone. This scheme suits favorably for people who have not owned a house in the past three years and to those people who have lived in the same house for five consecutive years in the past eight years. This home buying tax credit was due to expire on November 30, 2009 has just been extended to April 30, 2010 which is a very good news for everyone who has been seeking a house to buy.
Many sectors and individuals can get the benefit of this program. The local economy had seen the lowest of lows in the recent times and in particular, the real estate sector was the hardest hit. To regain the momentum, the government has brought in some relief programs and in those several programs, home buying tax credit has been the most important of all.
Therefore this has become a boon for both the individual and the economy itself as well. Public can now buy a new house and build their dreams while this program creates job and supports the economy. If you’re in search of a house, grab the opportunity as the deadline is not that far. Get the maximum out of this golden chance which you don’t want to let go.
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