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Plans A-Z · 07-01-2009, 06:58 PM

I looked at the links and decided to do some math, which I am horrible at. If the goal is to make one's mortgage payment more affordable by targeting at 31% of the gross monthly income...well then ours will go up about $300.
Either I am misinterpreting the formula or the method or I have a really affordable payment now and won't get that lower payment thru NACA. I know my interest rate is good, but previous posters have said theirs has come back even lower than I have...like some have 2-3 % interest after NACA.
I guess time will tell.

07-01-2009, 06:58 PM	#32 (permalink)
Plans A-Z Senior Member Join Date: Oct 2008 Posts: 36 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Forebearance?? Yea or nay? I looked at the links and decided to do some math, which I am horrible at. If the goal is to make one's mortgage payment more affordable by targeting at 31% of the gross monthly income...well then ours will go up about $300. Either I am misinterpreting the formula or the method or I have a really affordable payment now and won't get that lower payment thru NACA. I know my interest rate is good, but previous posters have said theirs has come back even lower than I have...like some have 2-3 % interest after NACA. I guess time will tell.