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treadloc

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does owning a home with no mortgage have any affect on your credit score

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Not really

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Credit scores are based on debt and payments.   A paid off property does nothing for your score.  if fact if it is recently paid off, your score will probably drop.

I would advise that if the property is paid off, then open a "Home equity line of credit" with your bank.  it's simply  a "Pre-approved" line of credit using your home as collateral that you can use in an emergancy.   it will raise your available credit and help your credit score that way.

Good luck

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I have two commercial loans that the bank holds the note for but they do not report to the credit companies because they are commercial loans. is there anyway to get the bank to report to the credit companies??

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