Hi all, My wife and are wanting to purchase a house sometime. The problem is I have been without a job for most 08 and 09 so I have not made any money on my w-2 for 2 years, in december of last year I started my own business, and its starting to take off but I get paid mostly cash, I will claim it at the end of the year on my w-2 but for now my only proof of income are my records I keep. My wife has 2 years of w-2s but she is only making $14,500 a year. she has no credit score and mine is a pretty crapy 629. and our credit cards are 95% maxed. I plan on getting them to atleast 50% befor buying a house. We have been paying rent ontime and in full ever since we started renting 6+yrs, but I dont think they take this into acount.

Is there anything we can do to get into a house now. do we need to wait untill I file taxes at the end of the year? Can any low income programs work for us? rural loanes?

I would like to buy something soon since the owner of the house we are renting is letting it go back to the bank in august! Would rather put money toward purchasing a house than renting again!!!

Thanks
Shawn