Today our country is gradually rising up from recession and Real Estate Bailout is on the cards. Government’s important announcements, laws, changes in economic policies and so many subsidies to various sectors are responsible for this slow improvement. One such important law for the enhancement of real estate sector is Home buyer tax credits. This law gives so many benefits for the people who interested in buying houses which in turn help in enhancing the real estate business which leads to the development of country’s economy. Surely it’s also a boon for the people who want to buy a house. So many people are going to get benefitted by this law. As per law, a person who is buying his first house or who haven’t owned any houses for the past three years, are eligible to receive $8000 tax credit. Home owners who have lived in current house for five of past eight years are eligible to receive $6500 tax credit. The government also increased the income tax limits to $125000 for singles, $225000 for couples with a $20000 phase out of the credit for both. But a dependent is not eligible to avail these benefits. I wish everyone to avail these benefits and helps for the betterment of the nation.