Loan Modification: Why debt-to-income (DTI) ratio is dead?
If you are a mortgage loan owner and you are in trouble right now than I have a good news for you. You don’t need to go for a foreclosure anymore. You can now save your home by going for a loan modification. Yes, President Obama has declared US $ 75 Billion of bailout to save the American Housing Market. You can now take a piece of this money and modify your mortgage loan terms with your lender.
A debt-to-income ratio (often abbreviated DTI) is the percentage of a consumer's monthly gross income that goes toward paying debts. (Speaking precisely, DTIs often cover more than just debts; they can include certain taxes, fees, and insurance premiums as well. Nevertheless, the term is a set phrase that serves as a convenient, well-understood shorthand.).
You can learn on 60-Minute Loan Modification Program by California based Mike Rockwood that Why debt-to-income (DTI) ratio is dead and how to accurately calculate your loan modification eligibility in 2 minutes flat.
You will learn in this workbook that how you can accurately calculate your own loan modification eligibility in just 2 minutes flat by calculating Debt-To Income Ratio. Debt to Income Ratio is a simple ratio that will tell you within minutes that weather you are qualified for the loan modification program or not?