They owe not only on the house, but on homeowner association fees, home equity loans, car loans, alimony and credit card interest.
Debt includes not only mortgage payments but also taxes, insurance, homeowner or condominium fees, alimony, car leases and second mortgages.
Lenders will also look closely at how much money is left over after paying typical living expenses, which include all property-related costs, federal and state income taxes, utilities and other debts and obligations, like a car payment or alimony.
Tyson apparently threw his wealth away on mansions, cars, jewelry, lawyers, alimony and child support; the estimated $400 million he earned as the most feral boxer of his era is gone.
Here's a guide to the issues that consumers are likely to face, from tax brackets and alimony to electric cars and moving expenses.
The back-end ratio includes any other debts like car or student loans, credit cards and alimony.
Like any separating couple, each side squabbled over who kept the car, the house, the size of the alimony and even custody of the kids (British citizens who live in the EU and Europeans who live in the UK).
By that point, you're making a hundred and seventy-five thousand a week, you've got a house in East Hampton, you're getting laid constantly, you've got closets of beautiful Italian suits, and you've got three cars in the garage and you're paying alimony to your ex-wife who's living down in Florida.
It's possible to designate mortgage payments, car payments, educational expenses and lawyer's fees as alimony, but the rules are technical so be careful.
More than one million of these bankruptcies were filed under Chapter 7, which erases all debt except taxes, mortgages, student loans, child support, alimony and, in some cases, loans on a car needed to get to work.
