Well, last week, Fannie Mae and friends announced that the new echelon for a credit score that will qualify you for a mortgage will be 740. A lot of banks and lending institutions will follow suit.

Have they gone too far? Is this going to kill the chance of an economic turn around in the housing market? Will people just give up because they think there’s just no way they can achieve that kind of a score? I’m not going to go as far as to say Fannie May knows what they’re doing (remember how much money they needed to be bailed out 2 years ago?), but let’s just consider for a second that this is *good* news. Maybe this was how it was supposed to be all along. Only those that make the effort to ensure that their credit score is accurate, unblemished, and under their control, will be able to gain the fruits of the land.

What about those with negative items? Are they destined to rent forever, taking jobs that don’t check their credit, their families suffering for the mistakes that were made (their fault or not) many years ago? How about you check out credit repair for once. Lexington Law saw 84% of the presenting negative items removed from their clients’ credit reports. Last year (2009) their clients removed over a million negative items from their credit reports! This is thanks to a tried and true process they’ve been practicing since 1991. That’s nearly 20 years of practicing their craft, refining their process just to clean up your report. They can do this for you.

Check out last year’s results here