Hi all,

I use to do financial counseling for people, loved it, just loved it!!!

However, I've always wondered "how do they figure out how much money 
someone can borrow, and how do they deny you, what is the threshold?"

Well, today, I was talking with someone from a credit union, who I know, 
at the grocery store. And I asked her that very question, and here is 
her answer. She told me, "Harry, I'm glad you asked that question, 
because people need to know this. We take your monthly income times 3, 
and that gives you your limit on how much you can borrow for any loan.

This example is not real, it's just a made up number. So, let's say 
someone makes or gets $2000 a month. So, $2000 times 3 is $6000, which 
is your limit on how much you can borrow.

So, now anyone can figure out how much money they can borrow, how about 
that!

Harry, who is keeping this for reference!


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