That’s ok.
I am extremely interested in what the future holds for the “FICO” score in relation to this. So much emphasis has been placed on it for so long but I seriously don’t believe it will worth a hill of beans in the future.
As more and more people move away from using credit daily (excepting home loans, I mean), I have to believe that the use of the FICO score will change as well?
I don’t know...just another aspect of the current economy that I find of interest.
The banks aren’t giving out any loans and their credit cards have rates that are higher then a loansharks so who really cares what their FICO is as far as that goes. You aren’t going to be getting a loan for anything and who the hell needs credit from a bank-under Obamacare it will be cheaper to get one from a loanshark. He will break your knee if you don’t repay and you will get your knee fixed for “free” with Obamacare-that makes it cheaper then a 30% interest credit card.
Once you get your loans/credit cards paid off and go to a cash only system you will be surprised how much money you have...well, until the Corruptocrat taxapalooza kicks in that is.
What happens to your FICO score when the government starts forgiving your debt, either through these mortgage refinancing or work for the government for debt repayment?