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Foreclosure fell off and lost 5 points

Frequent Contributor

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,

810 goal on all three by 3-1-2015
5 REPLIES
Valued Contributor

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

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

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.

Highlighted
Moderator Emeritus

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

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Frequent Contributor

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