Between Mortgage Hurts Couple's FICO score

Patricia F. writes in

Our scores are in the 660's and we need to up them to approx 700 .... and prior to

selling our home they were above 700.  The credit bureaus (Trans Union


told me that often times when people sell they will experience

a 25-35 point drop in their credit score because no mortgage appears on

the credit bureau; however, when they purchase another home the score

jumps up again.


Thank you!


p.s. you might want to add a page to your website about this so that other people

are aware of this challenge.  The caveat according to Trans Union is that

within 90-120 days is when this occurs, so if you sell and then don't buy

fairly quickly you are impacted.  Likewise paying off your mortgage does the

same thing - decreasing your score.


More form letters