Government Mortgage Programs

High Credit Score Mortgage Defaults

High Credit Score Mortgage Defaults Are Happening More Often

FICO, the creators of the credit scoring system used by the major credit bureaus, has issued a report stating that high credit scores does not necessarily mean that there is a lower risk of foreclosure. On the contrary, their research has shown that when faced with a financial crisis, people with very high credit scores are more likely to default on their mortgages as opposed to their credit card debt.