Alberta Bankruptcy

Author:

Anonymous

Question:

IF I HAVE A MORTGAGE OF 2300 A MONTH, I THINK ONLY HAVING TO STAY IN THE BUDGET OF 3971 WOULD BE ALMOST IMPOSSIBLE WITH THREE CHILDREN AND NORMAL EXPENSES. WHAT DO THEY SAY THE PERCENTAGE OF YOUR HOUSING EXPENSES BE. JUST WANT TO THANK YOU FOR HELPING ME UNDERSTAND THIS BEFORE GETTING INTO IT.

From:

Alger & Associates Inc.

Date:

Sep 08, 2010

Answer:

There is no particular percentage assigned to housing costs. The concept is that you have to live within your means and if your mortgage payment prevents you from doing that then maybe your percentage is too high.

Karen Rideout
phone: (403) 296-2973
krideout@alger.ca