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mortage is being reported as an installment loan. Does that hurt, help, no difference?

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Anonymous
Not applicable
‎06-03-2010 01:56 PM
‎06-03-2010 01:56 PM

mortage is being reported as an installment loan. Does that hurt, help, no difference?

My mortage compapny was bought by Greentree and 6 months ago, once it switched my score went down about 30-40 poiints.  The payoff amount was the same so I didn't think anyting of it.  I recently checked my power score report and Greentree is showing up under installment loan, not mortage.  I just wondered if this is affecting my score since, in FICO's eyes, i don't have a mortage.  any thoughts??? thanks

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AndySoCal
Senior Contributor
‎06-03-2010 07:38 PM
‎06-03-2010 07:38 PM

Re: mortage is being reported as an installment loan. Does that hurt, help, no difference?

I am trying to figure why the score dropped whne the account switched over. Did the date open of mortgage change ?  A mortgage loan is a type of Installment loan that should not have any impact on the score.

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