antredd67 wrote:Newworld you have been making some valid points, and I don't know your age, but anyone under 40 y/o can't afford to play with their fico scores especially if that means on being dinged, and dinged, and dinged for not PLAYING THIS FICO SCORE GAME BY THE RULES.Unfortunately, some of us lose a job, get divorced, get sick or what ever and that affects our credit rating when we can't pay our bills. But also, many people think that because they don't pay their bills on time, max out their credit cards, spend too much, yet living from pay check to pay check, on a 50,000 combined salary, gives them the right to do that, likes it's an American Right or something, and get mad when they find out that they have a low score as a result.Since you are on here like the rest of us, it is very obvious that you care about your credit rating. I am not bitter about my fico score, and I am not made at the way this credit scoring system is set up. We just got to remember the game rules, and since I will be well dead when the year AD 32, 023 arrives, I h ope and pray that my Great, Great, Great, Great, Great, Great, Great, Great, Great, Great, Great to the 3rd power child will be smart enough to have a credit score above 800 because he Great Grand daddy to the 3rd power passed the important message down.
twnkltoz wrote:And why do you think it is that so many homes have been foreclosed on in the last year?
twnkltoz wrote:Many people defaulted on their mortgages because they couldn't afford them. Their lenders approved them for way more than they could afford, and they couldn't make the payments. That's why lenders are raising the minimum scores for 100% financing. Credit history is important.