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butterbutt55

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Major Score drop after home re-fi
I recently (Oct) refinanced my home. BOTH loans are still showing. My score went from a 705 to 610!! How do I fix this? I have a letter stating the first mortgage has been paid in full.

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Re-FI sucks

This question was asked in 2012.  It is, as of this post, 2016.  And still a re-fi drops all history in regards to the paid off loan.  If this is the major portion of your credit score, it drops you like a hot rock!  I re-fi'd in June 2016.  I stayed with the same Mortgage Company I've been with for decades.  And yet, because the original loan is paid, the bureaus drop that history and now I have 4 months history on my report because of a credit card I have.  40 years of history with this house is worthless!  They dropped me 52 points for this re-fi.  This could take years to level back up again!  Where are the lawmakers when you really need them!!!

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