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Interesting article: Millions spend 1/2 their income on housing
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Interesting article: Millions spend 1/2 their income on housing
They recommend you only spend 30% of your salary on housing, but to live in this area I think that is kind of hard, don't you think?
http://news.yahoo.com/s/ap/20080923/ap_on_bi_ge/cash_strapped_homeowners;_ylt=AkQhcdGmRCoSyC0Hzzw2k4kDW7oF
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Posted 9/23/08 10:14 AM  |
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MarisaK
HELLO Manolo !!
Member since 5/06 14562 total posts
Name:
Marisa
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Re: Interesting article: Millions spend 1/2 their income on housing
This
"All you had to was massage the information enough to fit it into their round hole, and they gave us a mortgage," Hanna said.
made me  - Well, from THIS statement you obviously knew you were overextending yourself to begin with .........sorry, don't feel bad for you ...........
And WHY would you get an adjustable rate mortgae when you're on a FIXED income like the last woman who is on Social Security/Disability ????
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| Posted 9/23/08 10:21 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Interesting article: Millions spend 1/2 their income on housing
no sympathy
none whatsoever!!
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| Posted 9/23/08 8:08 PM |
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jax1023
LIF Adult
Member since 3/07 1165 total posts
Name:
Jackie
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Re: Interesting article: Millions spend 1/2 their income on housing
Is it 1/2 of your gross income, or half of your take home? Cause I can see getting to 1/2 of your take home fairly quickly.
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| Posted 9/23/08 8:30 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Interesting article: Millions spend 1/2 their income on housing
Posted by jax1023
Is it 1/2 of your gross income, or half of your take home? Cause I can see getting to 1/2 of your take home fairly quickly.
the debt to income ratios banks use are based on gross income, so I think the article is talking about gross (but I had wondered the same thing bc the article doesnt say)
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| Posted 9/23/08 8:32 PM |
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