Boswd wrote:I agree 100%. What ever happened to teaching econ/finance in schools. Too many people live by the seat of their pants in search of the all elusive American Dream. No one has a saving's account anymore and no one seems to put money away for a rainy day. They live paycheck to paycheck, credit card to credit card and then people wonder why the economy is such a mess. There's no get rich quick out there. It's just hard work, diligence, patience and common sense.I could not agree more.
masdeocho wrote:How is the FICO score at fault? It hasn't changed the basic parameters. It's not like suddenly the score indicates that someone with a 550 score has only a 2% risk of defaulting.