I thought this change had already taken place.
What a bunch of crap. We owned a business during the recession and saw our income plunge in half...we paid all of out bills and contractors before we ate. Our credit scores were never below 800 and we are proud to have earned those scores. We know people who walked from their mortgages in 2008 not because they couldn’t afford the payment, but because the house wasn’t worth what they owed on it. Today they’re crying the blues because the market came all the way back plus the same home is worth 25% more.
I also think that anyone who has been on public assistance should have it documented on their credit report.
I found out that if I didn’t have a mortgage my FICO score was lower and if I did have a mortgage it was lower as well.
Welcome to the sub-prime mortgage mess, where taxpayers foot the bill for scumbags to get mortgages.
I am striving for a paid off home. Once that occurs I strive for my fico score to dwindle to nothing. Cash is king. If you can’t pay cash you can’t afford it.
Dave Ramsey Financial Peace University. It saved our life.
Good for me, I had stuff on there that shouldn’t have been and it has proved impossible to fix, like the company who did it was in bankruptcy and was liquidated.
Personally thought they did it to pump up their books because it wasn’t legit.
All they let me do was put a note on it.
And so the next housing bubble begins...