Tag Archive: payment

When buying a house, should I use my gross income or net income to determine what I can afford?

September 3, 2014 by 2 Comments

There’s a big difference between your gross income and your net income. Your gross income is the money you earn each month before taxes are removed. Your net income is that same income after taxes are removed. No surprise, your net monthly income is usually much lower than your gross monthly income. When it’s time to buy... View Article

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What should my mortgage statement look like? What information should it contain?

May 27, 2014 by Leave a comment

Your mortgage statement arrives in the mail each month. If you’re like most homeowners with a mortgage, you barely glance at the statement before sending your check to your mortgage lender. But you really should take a closer look. You might be surprised at how much financial information your mortgage statement contains. Thanks to the... View Article

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HELOC Bills To Increase

February 24, 2014 by Leave a comment

  Borrowers who opened home-equity lines of credit at the height of the housing bubble should brace for stiff increases in their monthly payments. So said the N Y Times; citing a report from Moody’s Investors Service that rang alarm bells for banks. HELOC payment shock remains a credit risk for US regional banks- said... View Article

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