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What do we do???

My husband works under the table.. he makes $650 a week. I work legit, but my credit is horrible. What do we need to do in order to purchase a home and still prove that my husband works? Is that even possible???

Answer Question

Asked by Anonymous at 12:38 PM on Jan. 14, 2010 in Money & Work

Answers (5)
  • If your husband works under the table - he is STILL required to file a 1099 tax return because it is income. If he makes more than $600 in one year it is required and if you don't, you risk heavy fines and even jail time.
    That being said, you can't prove his income unless it is in the form of a check, tax returns or bank statements. Lenders won't look at your loan without provable income. With the economy the way it is at present, even people with GOOD credit are having a hard time.

    Answer by RutterMama at 12:43 PM on Jan. 14, 2010

  • if he works under the table theres no way to prove he works. he either has to get a legit job or you have to build your credit back up

    Answer by cakright at 12:44 PM on Jan. 14, 2010

  • Your husband needs to start reporting his income to the IRS; you will need to pay quarterly estimated income tax, in addition to filing an annual return.

    I wonder if a CafeMom admin will report you to the IRS to get the finder's fee.

    Answer by rkoloms at 12:54 PM on Jan. 14, 2010

  • Even if your hubby didn't work under the table you would still need to improve your credit score if you are going to buy together.
    It doesn't take a lot of work to start improving your score.
    Once your credit is a bit better get a loan based on your income only. That way if one of you are out of work you can still afford your mortgage.

    Answer by AussieMum2 at 12:55 PM on Jan. 14, 2010

  • This will be the first year he doesnt file taxes.. i will look into the 1099, seems like our best bet. Thanks a lot ladies!

    Answer by Anonymous at 1:27 PM on Jan. 14, 2010

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