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Hello folks......I got my report from the 3 CRA, and it shows that an element hurting my score is insufficient info about my mortgage.
I sold my house in 2011, mortage paid off. Never defauled, never had a late payment. Can someone advise how I can address this issue.
Here is the note and comment on my report
Account Status: As Agreed As Agreed As Agreed
Past Due Amount: $0 $0 $0
Comments: ACCOUNT PAID REAL ESTATE MORTGAGE
DISPUTE RESOLVED REPORTED BY GRANTOR
DISPUTE RESOLVED PAID CURRENT ACCOUNT LAST PAID: 06/2011
Sometimes things the CRAs say affect your score negatively aren't really counted by FICO. You don't need to have an open mortgage account to have a good FICO score. Your old mortgage should still be reporting and be factored into your FICO score since FICO takes into consideration both open and closed accounts.
@Simply827 wrote:Sometimes things the CRAs say affect your score negatively aren't really counted by FICO. You don't need to have an open mortgage account to have a good FICO score. Your old mortgage should still be reporting and be factored into your FICO score since FICO takes into consideration both open and closed accounts.
Are you sure? I had always been under the impression you had to have an active account for it to factor into the credit mix portion of your score. At any rate it's a very small part of your score and not worth stressing over. It is still there under a manual review which is the important part.
What range are your credit scores in? Also, when you receive FICO scores and then receive guidance on what is effecting your scores, the first 2 reasons or items are usually way more important than the last 2. If you have really good scores and no real problem areas in your report then sometimes the software kind of grasps at straws for ways to improve your report and this may be what is happening in this case.