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Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
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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 781, Transunion FICO 821, Experian FICO 807,

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Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
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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
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Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
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Re: Foreclosure fell off and lost 5 points

Thanks a lot.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Valued Contributor
Posts: 1,863
Registered: ‎09-20-2011
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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.

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Posts: 13,897
Registered: ‎04-15-2011
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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
Posts: 283
Registered: ‎12-16-2011
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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 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
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