ya i have sold several houses and all the mortgages stay on file, rather if they were paid late or on time you are left with that as a past creditor account- like the other person said even though it will show up as closed , sold or transfered, its still logged as a past account.
It may depend on what kind of credit report he is looking at , some consumer reports just dont show you info on older accounts. The same as some creditor generated reports just dont show the past accounts if they have been closed while in good standing, BUT even if the report does not show that the account was there - the credit score still reflects that.
As for the new account showing up - that may just take a couple of months , and his credit score may suffer slightly from that during the switch, but it should recover within a few months.
