is my income adequate enough?

[sbgwolf1 0]

Aren't we prodding a little for information that isnt our business. It is very possible to have that mortgage if he changed jobs, lost pay, had someone else on the loan, or that is a 1st and 2nd together.

Wolf

[William33 110]

Aren't we prodding a little for information that isnt our business. It is very possible to have that mortgage if he changed jobs, lost pay, had someone else on the loan, or that is a 1st and 2nd together.

Wolf

Sorry, I should have been more specific.

My pm to pinpoint, was to clarify his income was adequate, based upon the posts by:john_and_marlene. I asked him to advise about any children he may have.

In other words, to ensure our original advice was accurate.

His mortgage really is his business, I was just curious on that. He chose not to respond. It's all good.

Edited August 30, 2006 by William33

[pinpoint 0]

hello all, it's just me and my fiancee, i'm divorced with no kids.. - pin

Aren't we prodding a little for information that isnt our business. It is very possible to have that mortgage if he changed jobs, lost pay, had someone else on the loan, or that is a 1st and 2nd together.

Wolf

yup along those lines wolf mentioned - pin

Edited August 30, 2006 by pinpoint

[Dean iWait 0]

It is enough income.

I am curious how you qualified for a mortgage that consumes 60% of your income, highly irregular. Thought they did not exceed 40%.

LOL WILLIAM. I'm in the mortgage/banking busuness and was wondering the same thing. Shoot me a PM pipoint maybe I can lower that rate for you.

I sent a pm to pinpoint a while ago about more info. Not sure where he/she went.

Dean, is 40% accurate? I think that was the basis of my loan.

Yes, 40% is a good rule of thumb. There are programs that will allow people to exceed that depending on strength of credit and assets. We have programs here for instance that will allow 50% for all debts including the mortgage. There are also stated income loans where you simply state your income, but do not have to document it, which is good for self employed people or people that have cash income that is hard to document.

Edited August 30, 2006 by Dean iWait

[PachucoBro 3]

If I lived in Alaska, single with 5 or 6 kids... I would be looking at an employment visa to find someone willing to be a live in housekeeper/nanny for cheap!

As for income requirements I briefly looked at them knowing I made more than enough. From what I saw it seemed like most things the government offers.... You have to be practically homeless to qualify or in this case disqualified.

I think in most cases the petitioner, being able to afford to fly to the beneficiarie's country and have some sort of vacation there, probably makes enough money to qualify.

Even the person that was 18 had his parents to help him out.