720 Is Now Replacing 680 Scores

orl2185 · ‎03-27-2008

http://www.zacks.com/newsroom/commentary/index.php?id=7251&type_id=

Read this post elsewhere....

MidnightVoice · ‎03-27-2008

What is the new 720?

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎03-27-2008

About the time I start knocking on the 680 door they raise the bar to 720.

Kind of like raising the minimum retirement age for Social Security! lol.

Anonymous · ‎03-27-2008

MidnightVoice wrote:
What is the new 720?

It's reserved for CEOs.

Anonymous · ‎03-27-2008

Then Warren Buffet can't get a good home loan!!!!

http://www.myfico.com/crediteducation/articles/warren-buffett-fico-score.aspx

MidnightVoice · ‎03-27-2008

Brammy wrote:
Then Warren Buffet can't get a good home loan!!!!

I guess he does not really need one

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

Anonymous · ‎03-27-2008

MidnightVoice wrote:

Brammy wrote:

Then Warren Buffet can't get a good home loan!!!!

I guess he does not really need one

Well of course he does.... gotta add to that credit mix to improve that score

Anonymous · ‎03-27-2008

two words - credit crunch...thanks for sharing the great article brammy!

Anonymous · ‎04-05-2008

Brammy wrote:
Then Warren Buffet can't get a good home loan!!!!

http://www.myfico.com/crediteducation/articles/warren-buffett-fico-score.aspx

Excellent read that demonstrates why FICO scores are only for "little people"--and I don't mean dwarves.

Buffet could have a 620, and he'd still get credit anywhere just by walking in the bank and showing his driver's license.

Anonymous · ‎04-05-2008

that's pretty depressing news to me since i'm having a hard time getting my mid score to reach 620. i took the leap anyway and made an offer on my dreamhome today. closing date was set at may 20th. mid fico is 593. all credit card debt is paid in full except one, since i'm disputing that one. $900 cap one which i've already call to try to pfd but the rep said that there were no accounts given my ssn anyway i made an offer of 250K. i plan to put down 3% (could prob do 5%). if offer is accepted i just pray I get approved for the loan. I have been with the same employer for 2 years (graduated 2 years ago and working in same field). I wouldn't have any problem paying 2500 per month mort]gage payments. only debt is 100K student loans. scores so low because during last 4 years of post graduate school I wasn't able to work much and accum so baddies which i've been working on since jan. anyway if anyone thinks i have a chance i could use a boost. considering my income is high would the lender still work with me given my bad credit sc)ore