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Tuesday, July 17, 2012

FICO confusion

"What did the housing bust, financial crisis and ensuing wave of foreclosures and layoffs mean for the country's credit scores? Almost nothing, it seems.

The average FICO score—the number most lenders use to gauge a potential borrower's credit-worthiness—stood at 690 in April, according to data released last week. That is roughly in line with both last year's average score and the average in 2007, before the market meltdown and recession wiped out many Americans' wealth."

Interesting read in the Wall Street Journal
Americans' Credit Scores Coast While Their Finances Crumble

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