The new and improved homebuyer tax credit is helping The US economy recover. A huge number of homeowners say that they would spend the expanded version of the homebuyer tax credit on debts, home improvements, savings and other expenses.

If a homeowner pays off his existing debts, he will have more money to spend on other things like home improvements, vacations or shopping sprees.  He can also invest on other things so that the money will circulate or put the money into a savings account.

The homebuyer tax credit not only helps the homeowners, it also helps the housing market as well as the economy recover from recession.  Because the consumers have more money to spend, they help the nation’s economy to rise up.

According to the survey done by Coldwell Banker, 83 percent of homeowners say they would either pay off their existing debts, make home improvements to increase their home’s value, or put into an investment or save the money instead of purchasing anything.