Tag Archives : consumer debt

Do you know what are Debt-to-Income Ratios?

Do you know what are Debt-to-Income Ratios?

Debt-to-income ratios are referred to as the guidelines that are used by mortgage lenders in order to determine your maximum mortgage amount. This is just a percentage of your monthly gross income (before taxes) that is used by you for paying your monthly debts. Due to the reason that there are two calculations, so there is a “front” ratio and a “back” ratio. These two ratios are generally written in the following format…

What is Binge Debt?

What is Binge Debt?

The act of accumulating debt at an excessive rate with no way to repay it is referred to as Binge debt. In both the United States and Great Britain binge debt has become an epidemic. Though only few people realize the fact that binge debt is as detrimental to their financial health as binge eating and drinking is to their physical health, consumers continue…

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