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Tafkam Hokie

Joined: 10/07/1999 Posts: 35179
Likes: 13640

What's this?

Once your mortgage is paid off, you shouldn't have a need to borrow


money ever again. You can stash away your former mortgage payment in savings so you can pay cash for cars and any other toys going forward.

Only real reason you need a good credit score at that point is it can affect things like your insurance rates.

I'm debt free myself and have no intention of ever borrowing money again, but I do still like having a credit score in the 800's just in case.

(In response to this post by UEMcGill)

Posted: 05/06/2022 at 4:30PM


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Current Thread:
 
  No debt, now FICO score going down? -- FfxStationHokie 05/06/2022 3:02PM
  Your shit is probably still like an 800 -- typed by ben 05/06/2022 5:05PM
  It's a racket, don't sweat it. It drops if you fully pay off credit cards. -- UEMcGill 05/06/2022 4:06PM
  One of the great scams in the financial world. -- GSOHokie01 05/06/2022 3:35PM
  Obviously.. -- ShockWaveVT 05/06/2022 3:18PM
  Unless you have 9 other forms of debt, I can't see paying off a mortgage -- Tafkam Hokie 05/06/2022 3:09PM
  Probably doesn’t matter if you are…. -- scoop76cs 05/06/2022 3:06PM

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