Actually, the first initial "first time homeowner credit" was giving out under our former President Bush. Then when our current President Obama came into office and made it a little more efficient to the American people. Under President Bush it was considered a loan for $8000 and to be paid out of the taxpayers federal income tax refund in the amount of $500 in a spend of 15 years (not $350). The taxpayer would have not purchased a home in three years to current (which would be 2008 time frame).

 Then when President Obama came into office he revamped the initial "first time homeowner credit" to where any one taxpayer purchased a home this would be considered a grant and they would not have to pay it back. The reason for President Obama to change the bill was because the purpose for the money is to be put back into the community.  But if you are making yearly payments back to the government then its not doing what it is suppose to do.

The third installment of the "first time homeowner credit" it the extension which is the "long time not long term homeowner" this is for people trying to purchasing there second or another home. The $6500 will be giving to you but I am not sure how because that is something the real estate agent would know the formalities on that matter.

 If you have already applied for the first initial grant or loan then you definitely will not qualify for anything unless you are purchasing another home.

If you are thinking about the additional $6500 on your federal income taxes there are some things you would need to understand before you count that into your federal refund. Before you process, there are some eligibility requirements before you file and amended your 1040 and a form 5405. The tax credit is an extension from the First time homeowner credit, and if you did not qualify for the $8000 then you could not get any of the credit that the government was offering.

 Then, President Obama extended it out because people where still purchasing homes but it was not there first home, so that is when the $6500 come about. But the only person who may or may not benefit from this would probably be your real estate broker. That is the only way you will figure it out, you would have to purchase another home. NOT, property, i.e. land or a building.

I give credit to my sources to the American Recovery and Reinvestment Act of 2008

i have been work hard today and i am overwhelmed that i may not give my all to my client but i don't want to over work myself. but she is a paying customer. but its not bad is maybe business jitters, that maybe that its just the beginning and i will be okay and i am able to provide for my family