You are currently browsing the tag archive for the ‘mortgage to income ratio’ tag.

21thirty-graf01-190“I want people to have more than a house, I want them to have a life, too,” Mr. Birkofer said. “The application of the 28/36 rule can be an eye opener and a ‘go slow’ or ‘reform now’ sign.” The original maxim of a week’s pay for a month’s rent was also based on take-home pay, given that it predates the federal income tax system, which formally started in 1913, said Danilo Pelletiere, research director at the National Low Income Housing Coalition.

see complete story here

thanks to Glenn Kelman for bringing this story to our attention

Blog Stats

  • 517,009 hits