👉 Imagine you've got a mortgage with a credit score that's like a low-stakes bet on the stock market - let's say 500. That's like asking a bank to loan you $500, but with the promise of your credit score as collateral. So, in this scenario, you're essentially saying, "Here's my credit score, and here's what I owe if I fail to pay back the loan." It's like getting a mortgage on a house with a credit score that could put you in the "danger zone" of financial bankruptcy.
Here's a darker example: "I took out a mortgage with a 500 credit score, thinking I'd be as good as a one-armed bandit at saving money. Boom! Now I'm walking around with a mortgage, paying interest to the bank like I owe them my life savings."
