Posted on: 21st Mar, 2013 12:03 am
Hi everyone! I'm currently selling my first house and wondering how it will affect my credit report. We want to turn around and buy another house just not sure if having such huge amount paid down off my credit will hurt it.
Hi Barry,
Selling a property won't have a negative impact on your credit report. However, if you sell off the property and do not pay off the left over loan amount, then the lender will report that to your credit report and it will have a negative impact on your scores.
Take care
Selling a property won't have a negative impact on your credit report. However, if you sell off the property and do not pay off the left over loan amount, then the lender will report that to your credit report and it will have a negative impact on your scores.
Take care
Selling your first house will not hurt your credit score in anyway. However, if you sell off tyour house and pay off the left over amount, then the lender will report it. As such, this will negatively affect your credit score.