As a percentage of our debt who gave us the most?

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Debt Servicing - How to Calculate GDS and TDS Ratios mortgagelocator.ca Hi everybody, it's Rowan Smith with The Mortgage Center. We're going to try something a little different this week, and we're going to cover something that's very commonly requested of me, which is details on debt servicing, what is it, and how to calculate it. So there's two main ratios that the lenders use when they're calculating debt servicing. . The first is GDS for gross debt service, and the second is TDS for total debt service. Gross debt service or GDS, which is the first ratio we look at includes your principal, interest, taxes and heat, and what we're trying to do is a find a percentage of your gross income that this equals. So principal and interest is effectively your payment, so whatever your payment is plus taxes and heat. A good rule of thumb is that GDS should not exceed 35%. I mean, yes, there's exceptions to this, but that's a good base-line if you're trying to figure a rough equivalent of what you can afford. Total debt service on the other hand includes not only principal interest, taxes and heat, but also any other debt payments or obligations. Now not everything is included in there, and we'll get to that later, but all debt payments. A good rule of thumb is that TDS should not exceed 42%. So let's go through GDS, we'll actually look at how to calculate it. This is a scenario, the common scenario that you see. Someone has an e-mortgage payment that'll work out to $2500 a month, and that couple makes $120, 000 a year, combined, both ...
	4.82 min. | 5.0 user rating
Paul Ryan: #AskTheGreeks How Not Dealing With Your Debt Works Out House Budget Committee Chairman Paul Ryan appeared CNBC's The Kudlow Report on Valentine's Day, 2012. This is really more of a campaign document than a credible fiscal solution to our big budget problems. Look, the President is claiming that this is a $4 trillion deficit reduction package; but when you strip out all the accounting tricks and all the budget gimmicks, he's increasing spending by 1.5 trillion and increasing taxes by 1. .9 trillion for a measly $400 billion of deficit reduction over a 10-year period, where he proposes to spend $47 trillion. So under the status quo, with the debt expected to rise 78 percent under this budget, it rises 76 percent. -- The problem we have is at this moment in our history we're on the verge of our own debt crisis. This is when we need leadership and it's when we can least afford to have a President who is just walking away from this. It's the fourth year of trillion dollar-plus deficits with the president's fourth budget, and that's why we say it's just not serious. --- Every time you don't do something to fix this problem, it just gets that much worse. Ask the Greeks. And so what we're going to do, Larry, is we're going to actually propose and pass a budget again. I know that sounds novel these days, but we have a law that says we have to pass a budget by April 15th. The Senate has ignored that law for 2010. They ignored it in 2011. Now they say they're going to ignore it again in 2012. We're not because we think it's our moral and ...
	9.00 min. | 4.724138 user rating

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• IStandWithObama because he didn't increase the debt or unemployment percentage by nearly double digits... Oh wait he did --> 2012-05-22 03:05:47
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