One Question - One Answer

Today I received a call regarding student loans. "If my student loans are in deferment until 2009, do I need to worry about them? I know my debt is already high."

No, is the answer. If you are doing a FHA loan, and your student loans are in deferment for the next 12 months (from the closing date), your lender does not need to count them in your Debt-to-Income ratio. Period.

Conventional loans are a different story.