Johanns says debt ceiling must be raised Lincoln Journal Star
Sen. Mike Johanns said Thursday failure to raise the national debt ceiling to prevent a U.S. government default next month is not an acceptable option for members of Congress to consider.
Default has "real consequences," Johanns said, and would "cost taxpayers lots of money" in terms of higher interest rates that would only exacerbate the problem of runaway federal budget deficits.
Meanwhile, government programs and services would be disrupted, he said.
President Barack Obama has warned that might include payment of monthly Social Security checks.
Asked about that possibility during a telephone conference call from Washington, Johanns said: "I do believe there are consequences here."
"There would be a very immediate and very painful reaction" if the debt ceiling is not raised, the Republican senator said.
Johanns said he is hopeful that "an acceptable plan" can be agreed to by the White House and Congress before the August deadline.
CFA Exam Prep: Level 1 Debt (fixed income ) Investments: Brian Zen ...
CFA Exam Debt Investments: Analysis and Valuation. The complete CFA exam videos are available at www.allenresources.com
what debt to income ratio is acceptable when applying for a loan for a new snowmobile?
Assuming good credit scores.
However, if you are under the % range listed above you should be okay. For example if you have 4 credit cards with credit limit of $250 per card for a total of $1,000.00.
You should only have owing to the credit card companies no more that 35 - 45% ($350 - 450.00).
Hope this help and have fun on that snowmobile.
I know any debt is bad, but is a 4 to 1 INCOME to DEBT ratio acceptable, average, or bad?
$200k income to $50k debt. $10k of the debt was business startup costs.
Eduardo is right - not all debt is bad, there is such a thing as good debt, namely a mortgage, because the house appreciates in value over the long term and because of leverage, you get a better return on investment than if you bought it all cash. Bad debt would be car loan (ultimately it offsets because the car allows you to go to work to EARN money).
Your debt to income ratio is good, I won't say excellent but solid. However, it is more important to look at your Profit to Debt ratio because $100k income could yield only $10k in profits - then you have to service those debts.
Focus more on Profit to Debt because if your profits go up, you are either INCREASING your INCOME or you are becoming MORE EFFICIENT, or BOTH, either way you are even better off.
Lastly, don't always rush to pay off debt - take a good look at the opportunity cost, as in paying off $50k of debt that is at 10% when you could have reinvested that $50k and gotten a 25% return would not be the best use of money.
I think 4 to 1 ratio is great!
What is the best stratergy for getting out of debt without declaring banruptcy?
Is debt settlement an acceptable stratergy, eventhough doing so will ruin my credit? I have more debt than I will ever live to pay off, making minimum payments, although I am current with all of my accounts (credit cards)? I have a 65% debt to income ratio, with a cash flow problem which will eventually destroy me financially.
send them a financial statement of affairs saying what you can realistacilly afford, make token payments to them for a year then offer them a settlement amount to write off a proportion.
And you're credit is already down the tubes with being so far in debt already. Declaring bankruptcy is not desireable, but sometimes the best thing. How far into debt are you and how much do you make? Try NOT to make minimum payments...pay off as much as you can. I'd need more info to help you more. Such as...do you have a home? how many mortgages? a spouse working? Good luck.
Oh, here's her website...you can write to her, and she usually has shows COMPLETELY on getting out of debt. http://www.suzeorman.com/
http://www.debt-explained.com/category/How-to-Avoid-Bankruptcy-Explained.html
Difference between manual underwriting and AUS Automated Underwriting System - 10 pts :)?
I noticed that on a certain home loan program, that the acceptable DTI Debt to Income ratio is not to exceed 45% manual underwriting and 55% AUS Automated Underwriting System. Does this mean that if the AUS is used, one could qualify for a greater loan? Is there one that is most commonly used these days? For 10 points.
Your assumption is correct. More than likely in this type of market, unless you have above steller credit they will ask for manual underwriting. Which to be honest is best for you anyway. You want to make sure that you can afford the mortgage in the best of times and the worst of times. Especially since we are in the midst of such financial unceirtanty
i need an explanation of types of loans available for a home?
-steps to secure the home loan
-cost of a loan at various interest rates and terms
-acceptable level of debt to income ratio and provide a recommendation
all of them
May be this site can help you
http://www.thetechnology.net
They all have different guidelines.
How many of the 2,000 would you like?
When a collection agency calls and ask you to pay the entire amount owed on a debt. Can I make payments?
My husband is on dissability and I can only make small payments. The lady who called was very nasty and very mean. Made fun of our income. so I told her I would send twenty dollars a month. Not acceptable she said. She wants the full amount plus a $40.00 fee.
yes you can make payments. Also you can ask her not to call you anymore and to only contact you by mail. By law thye have to do so. Now she wants the whole amount now because that way she gets the commision for collecting. If she can not collect on the debt the account will be passed to a different collector and so is the cycle.
You have afew options. You can ask her to send you a settlement letter for a lower amount , you can tell her not to call you anymore wait a few months and eventually you will get a settlement letter with a lower amount or you can ask to talk to her supervisor explain yourself and maybe get a payment arrangment. Odds are you will not but does not hurt to try.
You can also send the 20 dollars and keep receits that you send and they will be applied to your debt.
I worked for a collections agency before and yes I was nasty to people at times but some people deserve it.
How is net rental income verified by lenders on a residential loan application?
If I have net rental income of $100 per month, that $100 per month will count towards my gross income figure on a residential loan application, but the monthly mortgage I pay on the rental does not count towards my monthly debt obligations (with respect to calcuating debt to income ratios), as long as I have a postive monthlt cash flow on the rental property,correct? How do lenders verify your rental income? What if I won't be renting the property until after I move out of it, but I already have a signed lease application from my future renter - is that acceptable proof?
No, the proof you need is your tax return where you claimed it as income. A signed lease is NOT collected income. They don't care about what you think you can get or might get or dream of getting....only what you can actually document as money received.
Acceptable mortgage rate?
What would an acceptable mortgage rate be for a couple with FICOs of 620 and 680? High income and low debt. 100% finance, O down, 30 year fixed. Dallas, TX area. Thanks in advance. I have been quoted 11.25%!!!!
That's way too much ... apply for a FHA loan. you will get approved for a very low rate of 5% at the least and there is also downpayment assistance too, that will cover your downpayment cost. You can message me on messenger, and I will give you the details!
my loan was denied ,do i have to pay the appraisal fee'?
I was approved for a 100% financing 30 year fixed rate at 5.75% with an ofah grant, 1 month ago with a local bank . I signed a stack of papers and was told i was done until closing , ( i never recieved any paperwork/ copies of what i signed. I have a 770 credit score and was told my debt to income ratio was high but acceptable. The pre approval letter was sent and and the appraisal was completed. 1 month later I get a call from my lender , and was told ofah has changed thier rules. I was told that my debt / income ratio was to high, and the only was to get the loan was to remove a car from my credit, make $10,000. more a year, also I had to pay 3% down or my rate would jump to 6.25%. needless to say I was a little angry and told her I would get back to her on that.So i went to a different bank and got approved in 1 hour at 5.75% 100% financing fha loan, with no changes to my finances. Then I got an appraisal bill from the first bank , should I pay? (no change in debt ratio since day1
You do not have to pay the appraisal fee if you do not close and they did not collect it up front. They will certainly try to bill you for it - why not... Since you did not close the loan, you are not on the hook for the fees. Think of it as an underwriting fee - since you are not closing (buying their product) you do not have to pay. Most places collect such fees upfront and disclose that it is non-refundable. They - presumably - did not.
IF they are willing to transfer the rights of the appraisal to your new lender, and your new lender will accept the appraisal, then you can pay for it though. BE SURE that your lender will accept and use it for your new loan AND the old lender agrees IN WRITING to transfer the rights upfront though. Otherwise it is a worthless piece of paper.
No offense, one thing that shocked me is that you signed papers and do not have copies. That is a violation on their part as they are required to give you copies of anything you sign. Please, for your sake, do not ever sign anything without a copy to take with you. I am sure you read what you signed though - rule #1.
Is it acceptable if my hubby goes on demanding money for his unreasonable demands inspite of 2 yr old daughter
I am 26 (B. Com) & mine is luv marriage (my hubby is non-matriculate). He doesn't earn much & goes on demanding money 4 his lavish lyfstyle (absolutely no genuine reasons). I hv provided a lot of money upto now & repay it all alone. I m tired of providing money 2 him as we hv a 2-yr old daughter also. His demands r unending. He has taken debt from many people & before repaying earlier debt, he goes on taking more & more debt & now, he is trapped in this problem but, still continues the same. I hv no hope of his improvement. He does not support me financially. I m my daughter's sole source of income n support. I m worried. Since last 1 yr, I am not staying with him. He contacted for 3 mths, but now no any contacts. I hv filed Divorce Petition. Is my decision right?
