What is mortgage affordability based on Gross Wages, not Net? - mortgage affordability
Although it is likely that many lenders, unethical and want as much as you can borrow, are, I think the reason why comparison of gross income to net income because it is the best way to find a common standard. There are different types of borrowers, some independent, some workers, some married, some with children, some without children, so that people can pay or not pay taxes (I do not agree with that do not pay taxes) and everything is 100% gross income is detectable. We are not tax advisors and research for the peoples of the net proceeds of any transaction would be almost impossible. To prove my point, you can your human resources department every time it is different witholdings your check to the higher or lower, and impact on your net pay if you want. You can not get your gross pay less for a salary increase.
Saturday, January 2, 2010
Mortgage Affordability What Is Mortgage Affordability Based On Gross Wages, Not Net?
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On the basis of purchasing power is the gross salary, not to say, really stupid. It does not take into account other debts and expenses, which have now, or engage in the future.
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