everything lexington law is saying is absolutely true!

about the system being backwards…that also is absolutely true. the credit reporting agencies have hired lobbyist that have gone to washington and successfully lobbied our elected officials to basically make us guilty and to have to prove our innocence. the garbage credit scores they sell on tv should be out lawed. i groan when some one comes into my office to make loan application tightly clutching their fako credit report. they get mad at me when i have to tell them what their real credit score is. they are so mad they wont even listen because they have heard on the news how us lenders are trying to put people into subprime products to make more money off them. the press is to blame for this misinformation as well. they try to sell news stories by taking an isolated instance of a bad apple putting someone into a subprime loan product and make it sound as if its standard practice. it’s now almost impossible to make anybody a loan that doesn’t have a 740 fico score. if your fico score is below that the banks rape you with what they call risked based pricing that adds many thousands of dollars onto the costs of getting a loan. never before in history has it been more important to have good credit and that magic number is 740. we use the middle fico score taking the high and the low and tossing them out. your mid fico needs to be 740. by the way, those cute credit score advertisements for ordering your credit score….look at the fine print at the end of the ad. you’ll be amazed to see that they are being run by the credit reporting agencies themselves. the same ones that wont give you the consumer your fico score. how wrong is that?