The way I typically see an u/w look at this income is as follows:$5,000 in monthly salary$500 car payment $1,000 house paymentBusiness that loses $6,000/year$5,000 * 12 = $60,000 - $6,000 loss for $54,000 in annual income or $4,500/month$1,500/$4,500 33% dtiDoing the other way you would end up with $5,000/month income $2,000/month liabilities$2,000/$5,000 = 40% dtiHope that helps.

If your scores are around 600, you're easily with a year of achieving the 640 scores you'll need to qualify for FHA financing (assuming your income and DTI is reasonable as well).

I hope we don't lose Theresa here, I agree with Dion and Bill on a lot of what was said but I want to clarify some of the differences I've noticed in my company's data when it comes to working 1st versus 2nds.My assumption is that %'s here Are dealing with FMV/BPO figures, as the UPB on underwater notes is an irrelevant number.

With 4 units to cover the burden it's not such a big hit but I could see someone that was breaking even or losing money every month being in trouble, especially if the old assessment was really low.

You can make money in real estate but you can also lose it.

He says it's against HUD policy and she can lose her ability to sell (I'm assuming he means HUD homes).

Pretty good way to lose money.

If he files bankruptcy you could lose everything as the property becomes his asset and you become one more creditor.

If you work in ER, at night (shift differential) in certain hospitals I have no doubt a person could easily make $55-60,000+ a year fresh out of school.

Not sure what type of property you're renting But I can easily score a decent fridge and oven for $350 total.