Re: What you should know about the Dodd-Frank Act
09-10-2012 11:37 PM
This is a classic example of how far out of control and yet soooo important these scores have become. Once upon a time, the score could be likened to that of the label around a bottle of water. Today, I believe this same score is more like that of the water in the bottle. See, these scores determine if one obtains housing whether the application for this housing is to rent or to buy. Burden your mind with this, although the score is used to determine whether you obtain housing or not, it does not take into account ones rental history but hits one negatively if you do not have a mortgage. For this reason, I believe in full disclosure of all information that may or may not be used against me on the underwriters desk. In fact, lenders should allow the consumer to see their guidelines and pull the same score they will pull before them. I want my right to shop around without having to buy and/or be penalized for doing so.