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Question By
Mantisgrove

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Paid off mortgage in 2009. To leave it or not?
I paid off a 50,000 mortgage in 2009. It's still showing up as two closed accounts on my report. (Original lender sold to debt to Chase.) If I ask for this information to be removed, will that raise or lower my credit score? I have no other property in my name, at present. However, I do have 4 active credit cards. (Three of them being newly attained.) So, the two (connected) accounts for the mortgage is putting me at six total accounts showing up on my report, which appears to have a negative impact on my score. However, I don't want to have it/them removed if it is giving me a bit of a gain in a different area of credit scoring.

Thank you, in advance.

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Side Note:

There are no derogatory remarks or late pays on the mortgage history. They are just listed as 'closed' when it was paid. I attempted to remove the first lender's name with the 'Direct Dispute' feature -- to get myself down to 5 total accounts -- but realized removing one will remove both accounts, even though they are showing up as two separate accounts on my report.

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Reply by
JohnnyRain127

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Closed account in good standing absolutely do nothing BUT helping your credit profiles/scores, you get quite a bit of boost from it's age and payment history. Always leave closed account in good standing along.

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Leave them on your account.   More accounts is better.  Plus, this gives you a Mortgage portion of your credit, even if they are paid/closed.  Don't let the "remark" comment confuse you, this is not a negative.   At some point in the future if you opt for a Mortgage, they will want to see the prior mortgage information, just as a vehicle lender pays more attention to prior car payments then they do other credit factors.

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