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Old 04-09-2012, 02:32 PM
 
577 posts, read 999,497 times
Reputation: 629

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Quote:
Originally Posted by rikkidoxx View Post
I own my house outright. It's brand new on 6 acres of wooded land. I have no mortgage, but yet when I review my credit score one of the negatives is I don't have a real estate loan. Are they saying I should have a real estate loan rather than owning my house? They're saying that maybe my score would be higher if I did. My current FICO is 798 and the three credit bureau's are reporting 773.
Your score is more about your history of borrowing and paying back money, than actually having any money. Do you plan on borrowing a large sum of money with a paid off house? Without a house payment you could probably pay cash for future cars. I wouldn't worry about your FICO score at all, other than to watch your credit for any unauthorized activity.
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Old 04-09-2012, 08:10 PM
 
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You can borrow other's people money to make money with that. It is called Leverage.
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Old 04-10-2012, 02:07 PM
 
577 posts, read 999,497 times
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Quote:
Originally Posted by Info Guy View Post
You can borrow other's people money to make money with that. It is called Leverage.
Leverage isn't anything new, a lot of people used a lot of leverage to buy houses during the housing bubble. You don't always make money with leverage.
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Old 04-10-2012, 07:42 PM
 
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Originally Posted by msdmoney View Post
Leverage isn't anything new, a lot of people used a lot of leverage to buy houses during the housing bubble. You don't always make money with leverage.
Right but same thing as shorting with stocks.
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Old 04-22-2012, 03:39 PM
 
2 posts, read 2,752 times
Reputation: 10
Default FICO Score

Quote:
Originally Posted by clutchcargo777 View Post
Are you sure your 798 is a FICO score? Where did you get it?

If you didn't get it from FICO (directly or indirectly) you may not be as high up as you think. Some non-FICO scores top out at 990 not 850. That would change things a bit.

Not trying to bum you out, just make sure you really are a 798.

Yes, My FICO score is from MYFICO.com. It's the true FICO site.
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