The phrase "housing expenses" refers to the money you need to pay for your housing, including costs like rent or mortgage payments, utilities, and maintenance. Full definition
Financial hardship is defined as monthly housing expenses of: first mortgage, real estate taxes, property insurance, and homeowner's association fees that are more than 31 % of gross income. (californiabankruptcygroup.com)
A homeowner can deduct from their homeowners insurance premiums the same percentage of housing expenses that were allocated toward the home office. (valuepenguin.com)
That is a reasonable housing expense ratio by most underwriting standards. (loanbiz.com)