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Posted in Mortgage
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alcomason

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when an account is "bought' why is it a new account?
My mortgage was bought from BofA by Green Tree. Why is it showing up as a new account and lowering my credit score?

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The company who had been reporting the information no longer has any information to report, and the company who bought the account does not have the ability to report it under the old person's name, so they open it under a new account.

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