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ccpdrtek

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Why did my credit score go down after my mortgage loan was closed

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Credit scores are based on current/open accounts.   Only current open accounts count in your actual age of accounts.   When you close an account,it is no longer current and as such is not part of your credit score.  It is now reference only for what type of account and how timely your payments were. Over the course of the years you had the account open, you were receiving score increases.  When the loan is paid off, you loose some of those points.  

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