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Paid off mortgage and score Dropped!

1harmic1
New Contributor

Paid off mortgage and score Dropped!

Hi 

 

I recently paid off a 30 yr fixed mortgage and received an alert from TransUnion saying my score Dropped 12 pts because of it!   Why should my score drop when an account is in good standing is paid in full?   This is so unfair! I am trying to obtain a business loan and now with my score droppings, it may cause an issue! 😠

 

 

Message 1 of 2
1 REPLY 1
Blue_Collar
Regular Contributor

Re: Paid off mortgage and score Dropped!

Penalty for being responsible! Crazy how it works but that's how it is.

 

Was that your only installment loan?

Message 2 of 2
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