Take a look at the following link to a video along with an FAQ section with additional links.

http://www.kendooley.com/am-i-eligible/

Best of luck,

Ken Dooley, Conlon: A Real Estate Company
(312) 305 4919 cell

Answers to the most commonly asked questions about the tax incentive program can be found on the following website:

http://www.federalhousingtaxcredit.com/2009/faq.php

Maybe. Anyone who is not a nonresident alien (as defined by the IRS), who has not owned a principal residence in the previous three years and who meets the income limits test may claim the tax credit for a qualified home purchase. The IRS provides a definition of "nonresident alien" in IRS Publication 519.

Buyingfirsttime,

I suggest you go to http://www.irs.gov to look up information regarding the $8,000 tax credit. Real estate professionals are not tax professionals and nobody should be making opinions without ALL the facts.

If you do qualify, you claim it on your 2009 From 1040 to be filed by April 15, 2010. It will come in the form of an addition to your normal rebate or offset any taxes you owe and then you will receive the rest as a rebate.

If you do qualify, you need to hurry! Time is running out. You need to close by 11/30 and the lenders I talk to are telling their clients they are not guaranteeing that contracts signed from now on will close by 11/30 .

Best of Luck!

Eric Marcus
ESM Realty
Your Real Friend in Chicago Real Estate
773-244-1110
esmarcus@sbcglobal.net