Hey this morning I saw Dave Ramsey on The CBS Morning Show. He said we worship at the alter of the FICO score. So true. He explained how FICO scores do not determine wealth and today the only entity making money from our FICO scores are banks. There are about 1 in 5 mortgage companies who will manually underwrite loans via FHA, etc.

When the loan is manually underwritten it takes many other things into account such as paying your landlord on time, time at your job. It looks at the person and not the score.

One thing he explained which is very true because I have friends just like this…you can make 1mln dollars and have a bad FICO score.

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Cash is King…