Will the $8000 Tax Credit Be Extended?

I have been feverishly looking for for a house along with my new bride. We are both architects, and as such in this economy, are reduced to part time work. We have had to scrimp and save as well as make finding work a full time job. Just about everything we can afford is not a , and we'd have no money to buy materials to fix it up. Our only debt are student loans. We are smart with our money and invest. Our cars are both 13 and 14 years old, and American. When we were married (last week) I moved into her apartment (Our beliefs and faith in God has blessed our decision to not live together beforehand).

We had an AWESOME small wedding, which we paid for ourselves with a budget. We both have Masters degrees. We are both very good at what we do. I am in the Marine Reserves but do not qualify for a VA loan. So here we are pushing thirty, with a meager savings, minimal bills to pay, and little work. Our dollar is being stretched further and further. I am however thankful that our situation is better than many.

Now it is our turn to take root and make a home. This $8,000 is a huge help to us. This is possibly the most helpful thing anyone, including Governmental, could have ever done for us. It is an awesome gesture and the first time anything has been done to benefit us. I feel like it is about time the little guy gets something back. With this % or $8,000 tax credit, the almost 30% of my taxed self-employed income would come back to me...(as I am self-employed now doing freelance because no one has enough work). I have been paying for everyone and everything else, and it great that finally I get something back. I have never collected unemployment or wellfare. I am willing to go and fight for my country as a Marine.

The bad news is even though we have been looking for a home for about 6 months, time is running out and due to closing times we may not receive the tax credit. I think extending the tax credit would be a really smart thing to do (not just because it helps me). There are many people in a similar situation. I feel like our older people are upset with this spending for whatever reason...but they shouldn't be, because we pay for them, and houses arn't $10,000 anymore. Things are proportionally (compensating for time) more expensive than they were 40-60 years ago. To those more middle-aged opposers who own already, I say remember you were there once and how this would have really helped you. To those well-off...not everyone has the money you have and it doesn't mean that we are frivolous, not smart, or don't work hard. It seems that more people oppose this mortgage tax credit than the cash for clunkers deal. I think it should be the other way around. I would like a new car. My car is 14 years old. It is not sexy or what I want, but it works most of the time.

With rising apartment rental costs, as well as, rising heating/utility costs...it can be very close to a monthly mortgage payment. But I guess you can live in your new car.