Housing costs: Half your income?

[quote author="zovall" date=1222389594]Silly question.. but is that Gross Income or Net Income?</blockquote>


Actually, the article is unclear. However, debt-to-income ratios are always measured against gross income because net is variable.
 
Gross income is you total take before taxes etc. Net is after taxes, 401k medical etc which equals what you paycheck is.

Unfortunately there is a lot of people who had high paying jobs and now can not find those types of jobs anymore. So there is a lot of people struggling working 2 jobs and just surviving. With unemployment rising and with the US in recession (Surprise they will admit that once the elections are over with) that more and more people are hurting.



That is why this bail out is such a piece of crap as it just protects the rich and does not help Americans and makes them pay the bill to boot. What a swift kick in the pants these ass-clowns are trying to shove down our throat. If any of my elected Congressional members vote for this, i will never vote for them anymore.
 
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