patrick.net

I was actually looking at the rules to modify my mortgage. I pretty much qualify except one small detail. My mortgage is about 29% of my gross income, also, that includes taxes and homeowners insurance. Does anyone know if the 31% rule of income towards your mortgage includes those additional costs?

Only 29% com'on Techie you're letting our GDP down. Get with the program and spend, spend, spend. Spend like there's no tomorrow for our kids.

I think some money savant somewhere in Washington should be punishing those that over budgeted on housing, instead of trying to give them a financial Mulligan.

A friend works at WF, he stated 422,000 mortgage payment modifications started...only 3537 takers thus far (thanks Wachovia). We are both guessing that many of these loan owners are upside down. Are they reducing the principle of the loan or just giving out low rates?

Well I'm royally screwed at around 17%

If they'd give me 2% then I'd borrow a shitload of money. I'll get this friggin party started!

I'm in the same boat. Bought a house I could afford easily, at peak had more than 50% equity. Now best case scenario I break even, worst case scenario I am 60k upside-down.

We are DINKs paying boatloads of taxes because we have so little debt. We're paying for all these people making less but living large. What can you do?

Your refusal to borrow yourself into slavery makes you a bad slave. In fact, not a slave at all. You must be punished!