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Posted in Mortgage
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Frannie2801

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Why does my old mortgage still show up even though we have refinanced and the previous was paid off.

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Refinance and previous mortgage

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It's showing as part of my current home loan debt which doesn't make sense.  Understand that it is part of my credit history, but the total mortgage debt is showing as the paid off amount and the new refinance, so my total debt is doubled.  My score is good, just thinking it could be better if that debt ratio were reduced. 

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Because the old mortgage is part of your credit history.  It will drop off your report in about 7.5 years. Refinancing does not remove the history of the old mortgage.

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Same here...

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My old mortgage is still showing a balance as well, and it is increasing my mortgage debt as well.

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