mortgage updates as closed $0 bal

CreditDrama85 · ‎06-20-2009

had 2 mortgages and 1 was updated as closed/$0 balance and fico went up +15. i thought fico liked mortgage accounts? why would closing one make my score go up?

haulingthescoreup · ‎06-20-2009

You still have an open one, right? ... had 2 mortgages and 1 was updated as closed/$0 balance

If so, then you still have mortgage in your mix, but you have one less open installment account and thus less installment debt.

* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007

CreditDrama85 · ‎06-20-2009

and the one that is closed had 8 , 30 day lates..i wonder if that has anything to do with it too.

Anonymous · ‎06-21-2009

I had an almost 20 point jump when I paid off my auto loan...the only installment loan on my reports. Before payoff it reported at approximatly 35% of original loan amount.