Debt to Income Ratios or "What do you mean we can't afford peanut butter?!?"

Happy New Year everyone!Yes, I'm way behind. If you've noticed that things have been quiet around here it's because I took a much needed 2 week ... back on track. This week I'm settling back into a more normal routine. So on to the post!This morning I came across two great blog posts on ratios including:1. Debt to income ratio2. Mortgage [more...]

Date: 2009-01-12 20:00:00

Blog posts (31) | Videos (10)
 

How Much Can You Afford?

Source: Yahoo! Real Estate If you’re like many first-time homebuyers, ... -to-income ratio. This is the figure lenders use to determine how much mortgage debt you can handle ... (Debt-to-income ratio) = $2,340 (Total allowable monthly debt payments) Next, add [more...]

Date: 2009-01-01 12:27:26

Mr Mortgage Loan Mod Survey - I Would Appreciate Your Assistance

I need a favor from all of my mortgage broker and home owner friends out there ... done the right way.  I have swung completely over to this side of the fence as regulators, law makers ... is fully re-underwritten using present income and debt levels, prudent 28/36 debt-to-income ratios [more...]

Date: 2009-01-03 16:03:10

All Time Low Mortgage Rates For A++ Borrowers Only

As discussed on December 31, 2008 many homeowners attempting to lower their mortgage rate apply for a refinance, ... income (debt ratio of 32% or less) and substantial equity in the home (loan to value of 75% or less ... and won’t get approved. Only about a third of U.S. mortgage debt outstanding is likely to qualify [more...]

Date: 2009-01-15 08:09:46

Nevada Mortgage - How Much Can I Borrow?

This is typically the first question our Las Vegas Mortgage clients ask when applying for a new home loan ... , type of credit borrowed, and recent inquiries. Debt-to-Income Ratio The (DTI) is calculated ... The DTI would be 42%. Most mortgage guidelines require a 45% or lower Debt-to-Income ratio. Loan [more...]

Date: 2008-12-31 21:02:55

Is It Time to Refinance?

Is It Time to Refinance? Written by Credit Karma January 9th, 2009 at 7:09 AM CST 2 comments ... . Have the Proper Debt-to-Income Ratio. In the housing boom, debt to income ratios (DTI) were pushing 50 ... your score. Have Equity in your Home. Like the subprime mortgage, 100% financing is generally no longer [more...]

Date: 2009-01-08 17:50:03

Lending Club P2P: Review of New Post-SEC Changes, Free $25 Lender Bonus

Now that LendingClub has finished their SEC filing and is one of the only P2P lenders currently operating ( ... 660 with a debt-to-income ratio (excluding mortgage) below 25%. In addition, your credit history ... you get. Then you can simply compare this rate with your other options - credit cards, home equity loans [more...]

Date: 2008-12-14 14:30:58

HOW TO HELP PEOPLE WHOSE HOME VALUES ARE UNDERWATER

The more than 12 million homeowners with mortgage debt have an incentive to default because mortgages are generally "no-recourse" ... or income to make up the difference between the unpaid loan balance and the lower value of the house ... up about $27,000 of potentially uncollectible debt but would avoid the extra loss of value that comes with selling [more...]

Date: 2008-11-19 14:59:56

Mortgage Rates - Mortgage Home Calculator

It’s really a jungle of information out there. For beginners or first-time home buyers, home mortgage loan should work just any other loans, ... on your debt-to-income ratio. If you make barely enough to cover for your debts, you’ll have to pay a higher home mortgage rate. Compare this to someone who takes home a monthly income that far surpasses [more...]

Date: 2008-10-29 19:52:45

Foreclosures linked to 2005 Bankruptcy Reform law

For those readers not familiar with the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCA"), prior to October of 2005, unsecured debt ( ... of their credit card debt, and that would free up income to pay the mortgage. The new law blocks that escape route and forces better-off household to continue paying credit card debt, which makes [more...]

Date: 2009-01-13 16:03:13

A Fool's Errand: Stabilizing House Prices

Yesterday there was a news article on MSNBC that claimed 1 in 6 now owe more on their mortgage then their property is worth ... for borrowers in financial trouble to refinance or sell their homes and pay off their mortgage if their debt ... to Zillow the median household income in the area is about $46,000 while the median home price [more...]

Date: 2008-10-09 07:36:00

Net Worth December 2008

Finally, I'm wrapping up my 2008 numbers! Today I'll tackle net worth, and I'll post expense and income numbers tomorrow ... to have no debt other than my mortgage-- I had a little more outstanding on my credit card at the end ... growing as I pay down the mortgage-- this assumes that the market value of my home has stayed the same [more...]

Date: 2009-01-12 14:26:33

Recent Bankruptcy? It’s Not Impossible to Obtain a Home Loan

Because the new bankruptcy laws go into effect on October 17, 2005, more Americans than ever are filing for relief using the federal bankruptcy laws ... discharge. Ironically, some those that would not previously qualify for a mortgage do qualify after ... payments. The DTI* (debt-to-income) ratio of this person is 81.25%. Since his credit score is low [more...]

Date: 2009-01-15 00:11:26

The Greatest Offer For Those who Want to Receive Backlog Reduction Mortgage

These days the economy of the United States is breaking down ... your expenditures for the last half of a year and use debt calculator to realize your debt-to-income ratio ... increasing and the America encounter poor case. Debt elimination must be on everyone’s mind. With a not big [more...]

Date: 2008-12-14 23:31:59

How Should We Help Underwater Home Owers ?

Martin Feldstein has another plan to fix housing. It is a variation of the 30/20/10 plan I proposed earlier in the year, ... , recourse loan: “More than 12 million homeowners now have mortgage debt that exceeds the value ... take other assets or income to make up the difference between the unpaid loan balance and the lower [more...]

Date: 2008-11-18 12:40:23

Best Refinance Mortgage Rates - Ways to Qualify for a Low Refi Rate

Obtaining a low rate is a top concern for many homeowners who choose to refinance their existing mortgage ... payments, judgments, and high debt to income ratio are damaging to your credit score [more...]

Date: 2009-01-15 04:45:36

Should You Walk Away From Your Home?

(source) Despite the struggle, most responsible homeowners don’t think twice about whether they should make the mortgage payment each month ... ) which will be made tougher by the loss of income. There are many debt consolidation and loan ... back from bad credit and don’t want to let your credit score sink again. Whether you choose to fight [more...]

Date: 2008-12-03 22:29:29

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

You Can Implement your own Credit Repair

by Rob Kosberg One day you realize that you are in a serious personal financial disaster situation ... of your salary that goes for necessities such as mortgage, car loans, credit card payments, utilities, other loan ... . This is the income you can devote to reducing debt. Next, decide which loans and credit cards [more...]

Date: 2009-01-14 23:27:42

20 tips for living on one income

Thanks to everyone who came by with Christmas greetings over the holidays. Hanno and I appreciated them very much ... and one of you loses your job?Your main goal is to keep your home, feed your family and pay off your debt ... it a try. We had already paid off our mortgage but we had a small amount of debt on our credit cards [more...]

Date: 2008-12-29 04:21:00

Consolidate credit card debt with debt consolidation - Loan Modification not the answer

Amazon.de Widgets Consolidate credit card debt with debt consolidationThe move by the FTC comes as federal and state officials plan to expand a crackdown on mortgage-related scams to other schemes that prey on debt-ridden consumers.. Try Credit card debt consolidationCan’t Pay Your Bills? You’re not alone. Today, millions of Americans are having difficulty paying their debts. Most of those in financial distress are middle-income families with jobs who want to pay off what they owe. [more...]

Date: 2009-09-23 18:54:41

Best of KCLau’s Money Tips 2008

2008 is an exciting year for me. I was able to build more income streams and therefore increase my overall income compared to the previous year ... you are looking for about Bursa Malaysia Case Study: Consolidating Personal Loan, Mortgage and Credit Card Debt Do you have the assets to pay for your liabilities? Personal Asset Inventory Template How [more...]

Date: 2009-01-11 23:00:36

Mortgages: How much can you afford?

The American sub-prime crisis has rippled across the pond so that Britain too is feeling its ill effects ... lenders will try to work out a debt-to-income ratio so that they can work out how much you can afford ... taking on ever increasing levels of personal debt, many of those people were unable to pay back [more...]

Date: 2008-12-03 04:24:04

How To Effectively Shop for A Real Estate Mortgage Loan

This is a little harder than shopping for buyer's agents, so congress critters might not be able to do it ... a debt to income ratio and subtract from that your current monthly obligations, to arrive [more...]

Date: 2008-10-03 13:53:54

How Do I Get Personal Loan With Fair Credit Score But Debt To Income Ratio Is High. I Had Been Declined?

I just got a new job as a nurse, my college loan, car loan, co-signer daughter car loan, mortgage payment, owned a house but no more equity left. my credit score is fair, no late payment. I need immediate financial need to keep me going for the next 6 month. Where can I get quick loan ? [more...]

Date: 2009-09-27 10:51:16

Top 10 Ways To Save Money - Number 2 - Live On A Budget

Let’s take ten minutes and create your new budget for December. Write down your expected monthly income.  (Use your take-home pay.) ... , mortgage, insurance, food, clothing, gifts, miscellaneous, cell phones, credit card payments, etc.  Need ... !  This is the amount that you can budget for extra savings or extra debt reduction payments.  Did [more...]

Date: 2008-11-29 21:41:51

Renting vs. Buying using a Mortgage Interest Calculator | ArticlesBase.com

You can use a mortgage calculator to figure out your borrowing power with the bank and they’ll tell you exactly what you can afford. The bank uses a formula that you might have heard of called your debt to income ratio. view source [more...]

Date: 2009-07-28 19:02:19

Immediate Credit Card Debt Relief

Credit card debt relief can be accomplished through several ways. First of all though is to accept the fact that paying a monthly payment that is more than 20% of the monthly income other than for a mortgage or rent spells trouble. [more...]

Date: 2009-09-26 11:20:17

[IMG Pensioner]

Can pension be linked to mortgage? Ask an expert: My husband is seriously ill and I fear the worst ... Income bonds GO Consumer advice Shopping Your rights Buying and selling a car Holiday GO Credit & loans Get out of debt Bankruptcy Credit cards Picking loans Credit checks GO Insurance [more...]

Date: 2008-09-24 14:17:36

Steps To Stop Recession For Governments, Companies & Individuals

Decrease in personal consumption, over spending, exorbitant imports, inflation, cyclical economy, high interest rates, sky high energy prices, trade deficit, consequent wars, subprime mortgage crisis, massive personal debts and debt trap ... disposable income, reducing per capita debt level, balancing interest rates, ensuring an atmosphere conducive [more...]

Date: 2008-12-22 13:19:11

Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 7 Nov08 Bankruptcy & Insolvency

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To RealEstateMarketingThisWeek.com Part 7 (Excerpt) Beware of grandiose claims when dealing with a loan modification firm. You know I am glad that were back, when we went to the break we were talking amongst ourselves about some of these concepts, I really want to bring this back down to the listeners. [more...]

Date: 2009-09-29 17:30:06

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