I am still trying to find out who was the dummy that devised this formula? 31% of your gross income should be your correct mortgage payment? Okay lets not take into consideration your second mortgage? Okay so a single man making $100000 and a married man with 3 children and a stay at home wife making the same income are held to the same 31%. Wow..................
If the government devised this 31% I can see why are country is in a defiect!!!!!!!!! If the banks devised the 31% I can see why they are going to again come out profitable in a financial economy crisis............
Government gives them bail out money and they can write off any loses due to forclosures...........
Thats a win win situation................
Sorry forum I just needed to vent a little......
