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Posted in Mortgage
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earl2982

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Mortgage sold ! Score dropped 30 points.
Bank of America sold my mortgage . It showed up on the report as closed and transferred. It made my credit drop 31 points. Over the past 2 years I have been digging out of debt from a business that failed and ruined my credit. I've come from a 432 to a 757 and now dropped to the 720s. What the heck ? Anything I can do ?

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unfortunatly no

 When you shop mortgages you can only deal with ones that can not be sold, but not many lenders offer this anymore.  The sale is a pain as it can jack with your scores. Most of the hurt is only temp (closing and opening of accounts on a large loan you can see a large jump but as soon as the other reports it balances out), but the thing that can not be repaired is average age of credit that drops everytime the mortgage is sold.

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