According to Business Week, in 2009, consumers with FICO scores above 760 defaulted on real estate loans twice as often as they blew off their credit card companies.

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Mark Greene, chief executive officer of credit scoring company FICO, said, “This used to be a problem for subprime. Now we’re starting to see at the high end of the marketplace, people with good FICO scores, having serious delinquency problems."

While its recently been all over the news that people have flipped the traditional credit hierarchy, paying credit cards before their mortgage, it was largely seen as a strategy of cash-strapped people at the lower end of the credit food chain, that it, those who had lost jobs and needed to put groceries on the credit card to survive. Mortgages have historically been the first debt obligation consumers repay, Greene said in the interview. But now, consumers with higher credit scores are paying late on mortgages on second homes, investment property, and underwater homes. Late mortgage payments by high-scoring consumers will persist for another six months to nine months, said Greene.

Homeowners with better credit may be strategically defaulting, choosing to stop making payments on homes valued at less than their loan balances, even though they are able to afford them. Strategic defaults rose 128%t to 588,000 in 2008, according to Experian Plc, a Dublin-based credit-checking company, and Oliver Wyman, a New York-based consulting firm.

According to FICO, 39.8 percent of those studied (3.6 million consumers) had scores of 760 or higher. About 65 million U.S. consumers have FICO scores in that range.

Mortgages more than 90 days past due -- the point at which lenders generally begin loss mitigation -- increased to 5.09% in the fourth quarter, up from 4.38% the previous quarter, according a February Mortgage Bankers Association report.

Scores based on models established by FICO, formerly known as Fair Isaac Corp., are used to gauge consumers' willingness and ability to repay financial obligations. The scores, which range from 300 to 850, determine your ability to get credit and what you'll pay for it. A score of at least 750 gets you the best mortgage rates, but it doesn't look like its any guarantee of successful repayment after all.