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Originally Posted by jennifergirl  When we figure a current mortgage payment needs to be approx 33-40% of NET income, does that mean P+I or PITI?
When we figure the bank will try to get us to around 31% through a modification, does that mean P+I or PITI?  |
From what I know banks look at gross income compare to mortgage. A modification suppose to help put you into a 31%-38%.
Banks will give 31% Front End Debt to Income Ration including PITI, unless they sucker you into another deal.