38 PERCENT OF YOUR GROSS INCOME??? GIVE ME A BREAK!!

Today I heard the media talking about mortgages due to this crisis we have all got ourselves into. I could not believe they said that a mortgage is set on 38 percent of your monthly income!!! Seriously I was in shock!!! I was taught a long time ago that your mortgage or rent should never exceed 25 percent of your monthly income, and I have lived by this, and it has kept me out of trouble. Think about it for a minute, If your net income is $3000.00 a month at 38 percent your house payment would be a whopping $1140.00 a month. That is just your house payment, you would still have utilities, car payments, all kinds of insurance, food, gas for car ( and we know how crazy that has been.) It is ridiculous, and you start out set up for failure right away. If you stick to the 25 percent rule your house payment would be $750.00 a month. This is truly more realistic, and affordable. ENOUGH IS ENOUGH, WE AS CONSUMERS SHOULD HAVE THE RIGHT TO SAY WHAT WE CAN AFFORD, AND STICK TO IT!!! DO NOT LISTEN TO THE BANKS AND MORTGAGES TELLING YOU...." GUESS WHAT YOU QUALIFY, CONGRATULATIONS." YOU SHOULD KNOW WHAT YOU CAN AFFORD. Two years ago I looked into buying a home once again. They said the payments would be $1400.00 a month and based on our income we could afford this. This at the time was almost half of our monthly income, and our monthly income was never the same, it varied. Another big advice, NEVER BASE A HOUSE PAYMENT ON BOTH INCOMES, THIS IS VERY DANGEROUS. PROTECT YOURSELF, NO ONE ELSE WILL...IF YOU BASE IT ON ONE INCOME AND YOU LOSE A INCOME YOU CAN MORE THAN LIKELY SURVIVE IT. BY THE WAY, the home I was looking at two years ago, is now worth $120,000.00 less today than it was two years ago, I thank God for his help, and that I did not buy into the lies. I may not own a home, but I can eat!!! If you say, well if I do this I will never buy, better to not buy then risk foreclosure, and all other kinds of problems. I would rather not buy, and take part in all this GREED!!!!! GOD HELP THIS COUNTRY, IT REALLY NEEDS IT!!!