I was talking to a friend and he was telling me how easy it was for him to get a new home purchase loan since his credit score is above 700. It got me thinking.... This is a generalization but I'm willing to bet that most people with good credit scores make pretty good money. This is not to say that if you don't make alot of money you have bad credit. It makes sense that if you make good money you can afford not to have too much debt and you can pay your bills on time.
If you are making $80000 and you have a few thousand dollars on your CC, you can clear it in a couple of months whereas a person making $400000 will take forever to pay it off. So this takes me to my topic for today - rich people seem to get handed stuff alot easier than poor people.
I remember about 10 years ago when Donald Trump was in trouble with is casinos and hotels, there were creditors standing in line of give him bail-out money. Nobody stands in line to pay my credit card bills :-).
This very friend you got the mortgage loan told me that good credit is a sign trustworthiness and lenders love you. You can go to Lendingtree.com, Ditech, KStreetLoans.com, eLoan, etc and the will all be more than happy - infact drolling over themselves to help you get a mortgage loan or refinance.
In short, if you are well-to-do, things come a little easier. Look at celebrities and all the freebies that they get. $5000 purses, free vacations, cars - hello where are these gifts for people who really need them.
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1 comment:
People should read this.
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