Lets say you have $5000 coming in per month, how much is a safe amount to spend on a mortgage, while still saving some for car payments, other loans, insurance, groceries, emergencies, etc? My dad said a 1/4 of your net income is a excellent thought per month to spend on your home payments…influence? disagree?
I am curious as to what final leg(s) we are left standing on? Observably our economy can be roughly translated as “debt”. As our ability to borrow dwindles, so goes our economy.
Observably our economy was way overheated in the late 90′s. So now we are contracting; I saw an condition comparing Japan of the late 80′s to our economy at its peak, and thought it’s not coincidental that roughly the same thing is happening in the US.
Of course our total outstanding national debt sits around $54-55 trillion(!) range.
How can we maybe function in this capacity?
We bought a title insurance when we first got our home loan. We are now refinancing with another bank and they are requiring us to get a new title insurance. Is this right?
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Have ten years left on a mortgage and want to reduce the overall time without tapping my savings too much.