Effective in the next few days, there are new answers for your questions - read the blog referenced below

Right now the 8,000 tax credit is open to first time home buyers, and those who have not owned a home
in the past 3 years. To receive the tax credit you would have had to contract, and close on a home by
November 30th of this year. With the deadline fast approaching many of us Realtors are sending letters to
congress in an effort to have this extended through 2010. Most of the first time buyers that I've had the pleasure of selling homes to this year ammended their tax returns, and attached a copy of their settlement statements to the IRS.

S Hayes

In addition to the excellent links provided by Danilo (Who if you read his comments here or blogs elsewhere)
is a true Professional IMHO you may wish to read the information provided by the IRS as they ultimately decide who gets what.

http://www.irs.gov/newsroom/article/0,,id=187935,00.html

Tax form you would use... http://www.irs.gov/pub/irs-pdf/f5405.pdf

Expanded Tax Break Available for 2009 First-Time Homebuyers ... http://www.irs.gov/newsroom/article/0,,id=204672,00.html

An excellent discussion that may interest you on the Tax Credit, new developments ect...
http://activerain.com/blogsview/1094377/-8-000-first-time-ho…

Good luck, Dunes

Those are great links that should help you on your way. I see you're in Newport News. I do work in that area a lot. Let me know if you need to speak to any loan officers to weigh your options (including the tax credit) or if you need some information on local listings and other houses for sale!

Pete Spadaro
RE/MAX Success
757-869-2753 http://www.GoWilliamsburgHomes.com

Here are links to articles and flyers explaining the tax credit in detail:

http://money.cnn.com/2009/02/13/real_estate/homebuyer_tax_cr…

http://www.varealtor.com/Portals/0/docs/ConsumerInformation/…

Danilo Bogdanovic
http://LoudounScene.com
http://LoudounForeclosures.com