8-K

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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 8-K



                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of report (Date of earliest event reported) January 6, 2010


                     First Trust/FIDAC Mortgage Income Fund
             (Exact Name of Registrant as Specified in its Charter)



       Massachusetts                   811-21727                  35-6758396
(State or Other Jurisdiction    (Commission File Number)        (IRS Employer
     of Incorporation)                                       Identification No.)


   120 East Liberty Drive, Suite 400
           Wheaton, Illinois                                        60187
(Address of Principal Executive Offices)                          (Zip Code)


      Registrant's telephone number, including area code   (630) 765-8000


       ___________________________________________________________________
         (Former Name or Former Address, if Changed Since Last Report.)



Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):


|_|   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))





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Item 7.01    Regulation FD Disclosure.


First Trust/FIDAC Mortgage Income Fund (the "Fund") is filing herewith a
press release issued on January 6, 2010, as Exhibit 99.1. The press release was
issued by First Trust Advisors, L.P. to report that on January 11, 2010, the
Fund will host a conference call with Fixed Income Discount Advisory Company,
the Fund's investment sub-adviser. The purpose of the call is for the Fund's
portfolio management team to provide an update for the Fund. Details regarding
the conference call are contained in the press release included herein.



Item 9.01    Financial Statements and Exhibits.


     (d)   Exhibits

        Exhibit
        Number        Description

           99.1       Press release of First Trust Advisors, L.P. dated
                      January 6, 2010.





                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated: January 8, 2010           FIRST TRUST/FIDAC MORTGAGE INCOME FUND

                                 By:    /s/ W. Scott Jardine
                                        ----------------------------------
                                 Name:   W. Scott Jardine
                                 Title:  Secretary





                                  EXHIBIT INDEX
        Exhibit
        Number        Description

           99.1       Press release of First Trust Advisors, L.P. dated
                      January 6, 2010.

EX-99.1

PRESS RELEASE                                 SOURCE:  First Trust Advisors L.P.

First Trust Advisors L.P. Announces Portfolio Manager Update Call for First
Trust/FIDAC Mortgage Income Fund

WHEATON, IL -- (BUSINESS WIRE) -- January 6, 2010 -- First Trust Advisors L.P.
("FTA") announced today that First Trust/FIDAC Mortgage Income Fund (NYSE: FMY)
intends to host a conference call with Fixed Income Discount Advisory Company
("FIDAC"), the Fund's investment sub-advisor, on Monday, January 11, 2010, at
4:15 P.M. Eastern Time. The purpose of the call is to hear the Fund's portfolio
management team provide an update for the Fund.

- -- Dial-in Numbers: (800) 309-9067; International (706) 643-7847; and Passcode #
   42005902. Please call 10 to 15 minutes before the scheduled start of the
   teleconference.

- -- Telephone Replay: (800) 642-1687; International (706) 645-9291; and Passcode
   # 42005902. The replay will be available after the call until 11:59 P.M.
   Eastern Time on Thursday, February 11, 2010.

FTA has served as the Fund's investment advisor since the Fund's inception. FTA,
along with its affiliate First Trust Portfolios L.P., are privately-held
companies which provide a variety of investment services, including asset
management, financial advisory services, and municipal and corporate investment
banking, with collective assets under management or supervision of over $25
billion as of November 30, 2009 through closed-end funds, unit investment
trusts, mutual funds, separate managed accounts and exchanged-traded funds.

The Fund's daily closing New York Stock Exchange price and net asset value per
share as well as other information can be found at www.ftportfolios.com or by
calling (800) 988-5891.

CONTACT:  JEFF MARGOLIN - (630) 915-6784

__________________________________________
Source:  First Trust Advisors L.P.