Regular Contributor
Posts: 138
Registered: ‎10-18-2013

Mortgage Company Problem

Another question concerning credit score. I sold my house last June and paid off my mortgage in full. On my credit report it was listed as a "negative" because the account was closed. It shows the balance in now at "0" but it doesn't say "paid in full," or "paid as promised." I called the mortgage company and they said your account was closed and that hurts your credit score--What? How can paying your mortgage off be a bad thing. There is no way I can keep the account open, nor would I want to. Anyone have any ideas if this is correct and if not what I can do about it?  Thanks!!

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.