Gross Income Used For Mortgages??

Just read an interesting article about how GROSS income is not a good way to decide whether a person can afford a mortgage.  It brought to light the fact that bills people pay aren't even considered among those bills that get reported to credit agencies. 

For instance, the number one bill paid is car payment as that is how people get to work and it will get repossessed if not paid.  Then they have to have gas to run the car, and child care for their children while they are working.  See the point.  There are alot of non-credit agency type bills that will get paid before the house.  The house gets paid if everything else gets paid first.

I'd never thought of it that way as I'm old school, and I budget the house payment first.  I have a real "fear" of living on the street as the little old "bag lady".  So that's the first thing I get paid each month.  Maybe I'm weird, if this is not the way most people do it. 

Read another great article recently from an investment firm who said be sure you pay your car first as it's how you will get to work whenever the dollar goes crazy and is worth next to nothing.  You can also live in it.  Ouch!!  another person who puts a car before the house. 

So if you are interested in this concept, I'm copying the address for the first article.  Let me know what you think.  http://www.nationalmortgagenews.com/blogs/hearing/gross-is-for-kids-not-ability-to-repay-1034058-1.html