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Posted in Mortgage
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dahi1223

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why did credit score go down when mortgage paid off?

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We don't have access to your reports.  You'd have to carefully review reports from before and after the score change to determine the cause(s).

If your mortgage was your only active installment then that's one reason why you'd see a score drop.  Installments are not assessed the same as revolvers.

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mortgage payoff

My score dropped drastically when I sold my house and mortgage was paid off.  I had no missed payments.  I still have other c that I am paying on monthly.  I expected my score to go up due to a lot less debt.  Don't understand why.  I thought getting out of debt was a good thing.  What do I do to improve score again.  I am continuing to pay my other debts a little at a time with no lates.

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