That's kind of a troubling headline to think about, isn't it? Imagine this scenario: You've been on a house hunt for a while now and finally found your dream house after a long and exhaustive search.
Normally, this is where I would throw a wrench into the story by saying your credit score's not good enough for the house, but you came prepared. Your FICO score's up there with the best of them, so you confidently fill out the long list of necessary paperwork to apply for a mortgage, and on your way home, stop by IKEA to start looking for new furniture for that brand new house you'll be getting any day now.
A few days go by, and you finally receive a phone call to let you know your mortgage application has been denied. Wait€¦what?!
How did this happen?
You filled out your paperwork correctly, and your credit score isn't exactly slummin' it, so why was your mortgage application still rejected? Thanks to the current mortgage crisis, many other people like you are finding that simply having a great credit score isn't getting them as far as it used to. Banks are tightening their purse strings, and are now much pickier about who they're lending money to.
Unlike the lending days of yesteryear €" where having a credit score above 700 actually meant something €" banks and lenders are now going through each home loan applicants' actual credit reports with a fine-tooth comb for ANYTHING that might paint you as a financial risk in their eyes.
So if your high credit score alone is no longer good enough for lenders, what else are they looking for?
€ Lack of income. Your score may be above 750, but your credit accounts and reported income gave away the fact that you won't be able to cover your monthly mortgage payments. No money, no mortgage.

€ Your credit accounts aren't old enough. If the majority of your accounts listed in your credit history haven't been active for at least a year, it could ruin your chances of getting approved. Banks and lenders like to see that you have a history of positive credit under your belt €" some preferring accounts as old as 2 years, and preferably sparkling clean.

€ Judgments on your credit report. These can be the real kiss of death if you're looking for a home loan. Judgments typically follow your credit history for at least 7 years, and if a title search is done, can bring the process to an abrupt and unsatisfying conclusion.

So what have we learned?
Now more than ever, it's important to make sure your credit history, not just your score, is looking good for the mortgage lenders and anyone else who may be peeking through it. If your score or credit report aren't as well-polished as they should be, start working to fix your bad credit and settle any outstanding accounts before you go house hunting.