Regular Contributor
Posts: 173
Registered: ‎10-11-2007
Score simulator doesn't mention mortgage

How can I find out the score effect of paying off a mortgage early?  I've seen forums where people complained that their FICO scores nosedived from paying off a big debt early.  It defies common sense and seems extremely unfair, especially since there seems to be no way to find out in advance.  It's as if we had speed cops and no speed limit signs, and got tickets for guessing the speed limit wrong.  Especially if they also give you a ticket for going too slow, and you have to guess that too.  I want to write letters to my representatives in Congress to ask for legislation requiring FICO to disclose such information in advance, so people wouldn't have to gamble and not find out the result till after taking the plunge.  Are there any websites where such legislation is discussed?  Meanwhile, what should I do about my mortgage?  I have the money to pay it off, and can save a lot of interest by doing so, but will need good credit soon, so it might not be worth the risk.