What is used to calculate the 31% for mortgage restructuring?

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Josh L asked:


What is used to calculate the 31% for mortgage restructuring?
My actual mortgage payment is less than 31% of my monthly income, however, my mortgage plus escrow is greater than 31%. Which counts?

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    • This entry was posted on Monday, March 22nd, 2010 at 5:54 pm and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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    No Responses to “What is used to calculate the 31% for mortgage restructuring?”

    1. RED Says:
      March 24th, 2010 at 11:10 am

      For total monthly payment it is 28 for total monthly payment it is 28 for total monthly payment it is 28 for.

    2. David Z Says:
      March 27th, 2010 at 1:37 am

      The total monthly payment including escrow amounts.

    3. Rush is a band Says:
      March 28th, 2010 at 2:07 am

      The expense of your fellow americans good luck.