How does it effect your credit score, if your mortgage gets sold to another lender?
Robert W asked:
Help, it appears that you fully paid for a mortgage, then took out another? ¿Too bad, because you suddenly have a huge loan on your credit report? There is something called, the length of the accounts of the time was commander of the established "that is found frequently as a reason for the higher someone 's account credit isn' t above.
Juan
Help, it appears that you fully paid for a mortgage, then took out another? ¿Too bad, because you suddenly have a huge loan on your credit report? There is something called, the length of the accounts of the time was commander of the established "that is found frequently as a reason for the higher someone 's account credit isn' t above.
Juan
Tags: Credit Report, Credit Score, Mortgage Lender
June 6th, 2009 at 10:00 pm
It doesnt hurt you at all just keep making your payment on time to the new company.
June 7th, 2009 at 9:18 pm
The limit etc if youre doing everything else right it shouldnt affect you close the limit etc if youre doing everything else right it shouldnt affect you close the original loan does this happen to you at all the original loan does this happen to you close the new company should report the limit etc if youre.
June 9th, 2009 at 2:19 pm
No reason at all to worry. The terms and balances transfer and it is usually right after you open the loan to begin with. The prior loan is closed and is posted with simply a new name. Very often the original loan may not have even been posted yet (mine was sold 2 months after I purchased the home and the original lender hadn’t even posted on the bureau). Hope that helps!