This comes as no surprise, I am sure, after the big mortgage meltdown recently. But here is an article that talks about how 1/3 of American--those with credit scores under 620--won't qualify for a mortgage, no matter how big their downpayment is.
Ouch!
I need to check my credit score again. I am sure it is higher than 620, but I want to make sure. I am not going to buy a house anytime soon, but I need to keep track of my progress.
http://money.blogs.time.com/2010/09/27/report-nearly-13-of-americans-highly-unlikely-to-qualify-for-a-mortgage/?hpt=Sbin
