Don't measure life by your credit score
Letter to the Editor
By Inman News, Thursday, March 12, 2009.Re: 'Economic bust plays on emotions' (March 11)
Dear Editor:
As a Realtor and more importantly a human being, I tell people when they have lost everything -- their house, their job, and they are so upset and don't know what to do -- "So what? Start over. You're fine and you will be fine."
I explain to them how the system is messed up. I explain, "If you would have been able to keep the house you would owe $300,000 more on it than the new neighbor just purchased his for.
"Let's face it, the credit-scoring system is messed up. You're more than a number -- you're a good person."
If these human beings who felt worthless now feel better and have hope, my job is worth more than any sale at any dollar amount.
Jenniffer Quinn
Realtor
Nuevo, Calif.
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Submitted by John Goldsmith on March 12, 2009 - 6:17am.
I'd agree there are a few items such as medical costs that unfairly characterize a person by there credit score, but other than that, it's a testiment to a persons integrity. I say bunk. Maybe you should lend some money to these people to back up your position. As a human being, I would not put my family security at risk for some materialistic pursuit that obviously has little meaning when it comes to happiness. I would not suggest anyone buy anything based on anything other than there "marketable income". This is an insult to those who have done without and played by the rules. When will a persons strength in the face of adversity trumph the "victim" mentallity that's so easily identified with today. We have a serious cultural problem that is going to be corrected whether we like it or not!
Submitted by Rick Hardman on March 12, 2009 - 8:38am.
I disagree with John.
There are plenty of people who have gotten where they are at because they mismanaged money, but that does not mean that they are bad people. It does not mean that they do not have ANY integrity. It sounds like to me you are a little sore over "done without" for too long in your life. You do acknowledge that there are things susch as medical costs that can hurt a persons credit score unjustly. What about the person who is trying to start a small business and something goes wrong? These people provide jobs and honestly try to make a go of it, but the vast majority of small business startups will fail within the first 5 years and guess who is left with all of the debt from that attempted business? I have not even mentioned those who lose their jobs due to this economy and find themselves suddenly unable to pay their bills.
People can be good people and still have some hard times (for whatever reason) and still be good people. Even if they simply do not know how or they are not good at managing money, they can still be good people.
I say bunk to you!
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Submitted by Vicki Lloyd on March 12, 2009 - 1:51pm.
My guess is that when all of this credit & foreclosure mess is over (in several years) the huge numbers of short sales & foreclosures will have less of an impact on individual's credit reports. There have been so many that eventually, they just won't have the same negative impact that they do now. (In fact, there are many who think it is foolish to continue to pay on under-water mortgages even when you can!)
Vicki Lloyd, MBA, e-PRO, ACRE, Realtor
http://LiveLakeForest.com