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kkhannah

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What happens if I pay off a mortgage?
If I pay off a house mortgage, will this make my credit score go down? Also will it raise my property taxes a lot beings I'll lose the mortgage exemption?

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Top Contributor
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Yes, usually paying off and closing a loan will cause scores to decrease. By how much, depends on the rest of your credit profile. Tax question, not sure, try googling it.

Top Contributor
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If you file long form on your taxes, you can deduct the mortgage interest. I think you would be better off investing the money wisely rather than paying off your mortgage.  This will also depend on your current mortgage interest rate and if you will earn interest above and beyond what you're paying. 

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