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Frequent Contributor
Slab
Posts: 272
Registered: ‎12-16-2011

Foreclosure fell off and lost 5 points

Just when I think I understand credit scores, I am reminded that the CRAs must really has a complicated algorithm. I have been waiting for a foreclosure to fall off and it did. Now that it has fallen off, my score has dropped 5 points. I understand that my average age of accounts is less and that would have an impact but to lose 5 points for the average age being 5 months less after the foreclosure falling off has me stumped. May I ask for some input on this?

Equifax FICO 742, Transunion FICO 769, Experian 784 through AMEX FICO Experian
Goal: 765 on all three by 3-1-2015
Valued Contributor
JM-AM
Posts: 3,303
Registered: ‎06-09-2010

Re: Foreclosure fell off and lost 5 points

The negative being removed may have thrown you into a different scoring bucket.

Depending on other things in your report, the good news is your score should rebound fairly quickly and possibly an increase.
Good Luck
May all your dreams and wishes become a reality!
Frequent Contributor
Slab
Posts: 272
Registered: ‎12-16-2011

Re: Foreclosure fell off and lost 5 points

Thanks a lot.

Equifax FICO 742, Transunion FICO 769, Experian 784 through AMEX FICO Experian
Goal: 765 on all three by 3-1-2015
Valued Contributor
boomhower
Posts: 1,862
Registered: ‎09-20-2011

Re: Foreclosure fell off and lost 5 points

Yep, you've been rebucketed.  I've got my last two baddies falling off later this year and really don't expect much of an increase as I will be rebucketed. 

 

You may be overlooking the biggest thing. Score isn't everything.  A 720 with a clean report is worlds better than a 740 with a foreclosure.

Moderator
Shogun
Posts: 10,956
Registered: ‎04-15-2011

Re: Foreclosure fell off and lost 5 points


JM-AM wrote:
The negative being removed may have thrown you into a different scoring bucket.

Depending on other things in your report, the good news is your score should rebound fairly quickly and possibly an increase.

+1


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Frequent Contributor
Slab
Posts: 272
Registered: ‎12-16-2011

Re: Foreclosure fell off and lost 5 points

You guys are great. A lot of knowledge out there. I have rebounded a little, 11 points Which is a net 6 points.

Equifax FICO 742, Transunion FICO 769, Experian 784 through AMEX FICO Experian
Goal: 765 on all three by 3-1-2015

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