[quote=GH]FICO Scores only indicate you have held a reliable job and have been lucky enough not to get laid off…[/quote]
GH, I respectfully disagree with this point. A worker can be “lucky enough not to get laid off,” yet their employer may be withholding up to half their pay in wage garnishments for writs on judgments for consumer and other debt. The worker may spend every weekend at a casino where they routinely cash their paychecks.
A person’s FICO score is indicative of their WILLINGNESS to pay their debts in a timely manner. It has EVERYTHING to do with the CHARACTER part of the 3 C’s of credit. It’s one of the most important considerations a mortgage lender uses when deciding whether to and/or how much to lend a certain individual, IMO.
