Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
Foreclosure fell off and lost 5 points

Just when I think I understand credit scores, I am reminded that the CRAs must really has a complicated algorithm. I have been waiting for a foreclosure to fall off and it did. Now that it has fallen off, my score has dropped 5 points. I understand that my average age of accounts is less and that would have an impact but to lose 5 points for the average age being 5 months less after the foreclosure falling off has me stumped. May I ask for some input on this?

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Valued Contributor
Posts: 3,302
Registered: ‎06-09-2010
Re: Foreclosure fell off and lost 5 points
The negative being removed may have thrown you into a different scoring bucket.

Depending on other things in your report, the good news is your score should rebound fairly quickly and possibly an increase.
Good Luck
May all your dreams and wishes become a reality!
Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
Re: Foreclosure fell off and lost 5 points

Thanks a lot.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Valued Contributor
Posts: 1,865
Registered: ‎09-20-2011
Re: Foreclosure fell off and lost 5 points

Yep, you've been rebucketed.  I've got my last two baddies falling off later this year and really don't expect much of an increase as I will be rebucketed. 

 

You may be overlooking the biggest thing. Score isn't everything.  A 720 with a clean report is worlds better than a 740 with a foreclosure.

Moderator
Posts: 14,062
Registered: ‎04-15-2011
Re: Foreclosure fell off and lost 5 points

JM-AM wrote:
The negative being removed may have thrown you into a different scoring bucket.

Depending on other things in your report, the good news is your score should rebound fairly quickly and possibly an increase.

+1

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July 2013 score:
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Frequent Contributor
Posts: 283
Registered: ‎12-16-2011
Re: Foreclosure fell off and lost 5 points

You guys are great. A lot of knowledge out there. I have rebounded a little, 11 points Which is a net 6 points.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015