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Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Mortgage Dropping Off Reports

December 2008 I have my last remaining mortgage tradeline dropping off my reports after 10 years. It was paid off 1998. Think I see a score drop?
Moderator Emeritus
Posts: 7,970
Registered: ‎12-19-2007
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Re: Mortgage Dropping Off Reports

Congrats on the payoff and being mortgage free. I would put a big ol' HELOC on that house. Big enough and it will show as installment. Fico experts?
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Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Mortgage Dropping Off Reports

Mortgage was paid off 1998. I don't own it any more.
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0

Re: Mortgage Dropping Off Reports

I have my 2 oldest TL's droping off this year -
 
 
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
0

Re: Mortgage Dropping Off Reports

Yes, I think you will see a drop. 10 years of history is a lot, unless you have other accounts as old (or older) as this one that can absorb some of the loss.
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Senior Contributor
Posts: 4,831
Registered: ‎04-20-2007
0

Re: Mortgage Dropping Off Reports

I have 30+ accounts on my reports but due to a BK this would be my oldest TL. Average age shouldn't take that much of a hit and FWIW the mortgage was only open for less than one year to begin with. How much could it have helped me in the first place?
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