Impact of ex-wife refinancing

[Anonymous]

All, I was divorced last fall.  My ex kept the house and soon will be refinancing to get my name off the mortgages.  Curious to know how this will impact my credit score. 

Currently my Fico 8 across the three bureaus ranges from 730-755.  I have about 9k on credit cards, and a 16k consumer loan.  Two cars with total due of 41k.  Two mortgages on property total around 320k.  Annual income 130k.

When the mortgages fall off the credit report, what can I expect my scores to do?  My debt to income ratio should be very favorable, but are there any traps I need to be aware of?  I find many things about credit scores to be counterintuitive. 

Thanks for any and all help. 

[Anonymous]

Since you have cards and loans you won't take a credit mix penalty. It comes down to this:

• what's the balance and starting amount for the mortgage you'll be coming off of?

• what's the balance and starting amount for all other loans you have?

Figuring out your before and after b/l ratios will tell you. If they go down you could gain points, and if they go up you could lose points, but only if you cross a utilization threshold in either direction.

Since I believe there are only a couple of loan thresholds known, my feeling is that you're likely to stay right about where your scores are currently, but with an improved DTI. That's not a scoring factor but it certainly can open up other opportunities.