Mortgage Sold and 0 balance decreased score 27 points

[breakthecycle]

This is nuts! My mortgage was sold to and old account paid off shows 0 balance now I got a alert and score dropped by 27 points this is insane! All 3 bureaus dropped roughly same amount of points!

[MarineVietVet]

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@breakthecycle wrote:
This is nuts! My mortgage was sold to and old account paid off shows 0 balance now I got a alert and score dropped by 27 points this is insane! All 3 bureaus dropped roughly same amount of points!

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My first comment is congratulations on having a paid off mortgage. That's something to be very proud of.

Was this your only type of installment loan? Sometimes losing a mix of credit can trigger a small score decrease but 27 points seems a bit excessive.

Nothing else changed on your reports?

[breakthecycle]

It's not paid off, it was sold to another lender. The old account shows 0 new hasn't reported yet. I am going conspiracy theory on myfico now!

[Anonymous]

Youll actually find this to be a good thing when the new purchaser reports. You'll have two accounts that go back to the same open date helping your AAoA. In other words. Its a temporary setback that will actually help you in the future.

[MarineVietVet]

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@breakthecycle wrote:
It's not paid off, it was sold to another lender. The old account shows 0 new hasn't reported yet. I am going conspiracy theory on myfico now!

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I misread your post. Sorry about that.