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What would happen if starting the housing lottery process both you and your spouse have 4 jobs combined and one of you decides to quit 1 job but even so without that one job the income still follows the guidelines how would that affect anything? Has anyone ever been through this before? It looks like this is about to happen because my spouse is fed up with a specific place of employment I personally say just hold on a little longer in hopes that we do get the apartment and then after if all goes well he can quit, what do you guys think? We are both city workers and we have pretty good jobs but our other jobs are just what we do for extra cash
As far as I can tell, as long as you are within the income bracket without the additional job, you should be okay.
Your spouse will probably have to get a letter from the former employer saying that he no longer works there, but I assume that won't be a problem, right?
Also, here is an explanation of how income is figured for 80/20 lotteries. It was written by poster wiivile, and I've reposted it several times because it is the clearest explanation I have ever seen of a very mystifying procedure. You can do a rough estimate for yourself, using this guide. You will begin by each handing in your six most-recent pay stubs from all your jobs.
They will calculate employment income several different ways and take the highest:
1) They will average the six paystubs and multiply by how many times a year you get paid.
2) They will take the "year to date" on your most recent paystub and project it for a full year.
3) They will look at the income reported on last year's tax returns.
4) They will look at your employment verification letter which is supposed to state your base rate of pay as well as any overtime, bonuses, or raises expected.
Of all of these four, they will take the highest and use it as your annual income. If any of these are over the limit, you will be disqualified.
As far as I can tell, as long as you are within the income bracket without the additional job, you should be okay.
Your spouse will probably have to get a letter from the former employer saying that he no longer works there, but I assume that won't be a problem, right?
Also, here is an explanation of how income is figured for 80/20 lotteries. It was written by poster wiivile, and I've reposted it several times because it is the clearest explanation I have ever seen of a very mystifying procedure. You can do a rough estimate for yourself, using this guide. You will begin by each handing in your six most-recent pay stubs from all your jobs.
They will calculate employment income several different ways and take the highest:
1) They will average the six paystubs and multiply by how many times a year you get paid.
2) They will take the "year to date" on your most recent paystub and project it for a full year.
3) They will look at the income reported on last year's tax returns.
4) They will look at your employment verification letter which is supposed to state your base rate of pay as well as any overtime, bonuses, or raises expected.
Of all of these four, they will take the highest and use it as your annual income. If any of these are over the limit, you will be disqualified.
Thank you ! I was just wondering because I never did this before but from what I've read I know things can be a bit tricky but I guess we'll just have to wait and see what happens I really hope to get through though and him getting a letter won't be a problem no I feel like I sent them my whole life they might want blood too.
I helped a close friend go through it last year. And I've learned a lot from being on this site.
Oh okay, but yeah you're right I learned a few things from this site as well but thanks again 😊
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