Credit scores are becoming a major issue in the mortgage market.
Many of us can remember when it was a great idea to have our credit score constantly monitored and checked against a list of the top rated banks in the country.
Then there was the time when a mortgage company would make an offer to a borrower with a credit score above 3,000 points.
Now the same company may offer a loan to a customer with a score of less than 2,000, and the borrower may receive a higher-than-usual offer for a loan of less that 2,500.
But what if the person has an even worse credit score than that of their peers?
That is exactly what we did last month when we compared a couple of mortgages with different loan terms and payment terms.
While the borrowers in our sample were both young adults with no credit history, we found that they had similar credit scores, but were also on the higher end of the credit scale.
We also noticed that many of the borrowers had high balances, so we decided to examine their credit histories.
As you might expect, we discovered that many borrowers had higher credit scores than they had in previous years.
But we found even more troubling that many were also at risk of defaulting on their loans.
Many borrowers had outstanding debt, and in many cases had been unable to pay their bills for years.
We found that nearly half of the borrower groups had a credit card that had not been used in years, while many borrowers with high debt had been caught in a credit crunch.
This is a very different story when it comes to mortgages.
The average borrower with low credit scores had a negative credit score of 2,788.
At the same time, many borrowers were at risk for defaulting, and their average credit score was just shy of 3,600.
These are the borrowers with the worst credit scores.
It turns out that the borrowers who have the highest credit scores are the ones who have a lower credit score.
A study by the National Consumer Law Center found that consumers with lower credit scores tend to have lower incomes and are less likely to have mortgages and credit cards than those with higher credit balances.
If you are struggling to keep up with your credit score and debt, it is important to get your credit scores as low as possible, to minimize the chances of getting a bad loan or losing your home.
Read more about credit scores and foreclosure:Read the story at MSNBC.com.