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How does selling your home affect credit score?

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Anonymous
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How does selling your home affect credit score?

We are thinking of selling our home. How would it affect our credit score? would it help it because we "payed off a debt" or hurt it because we only had the home for 2 yrs? it is about 114k that we financed
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Anonymous
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AS long as the trade line was good it will still show up...

AS long as the trade line was good it will still show up on your credit report for 10 years.  That being said you may see small dings like I did when I paid off my car.  Due to outstanding student loans I now get a message that says the porportion of you outstanding debt on opn installment accounts is too high.  But that account will still reflect a good pymnt history.  Instead of having more than 20k paid off on the car, now it only reads the open one which is maxed out because I just got my last disbursement added in.


Message Edited by Brammy on 03-22-2007 03:13 PM
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