It is importance to pay off a debt regardless of the type of debt that you owe, but your credit score will not increase nor decrease when you make a payment. Time and consistent monthly payments to your debts will increase your score.
Each case is different. One of my clients had a very small judgment ($100)against and her score shot up 100 points when she paid it off.
If the mortgage refinace was used to pay off other debt, it my increase your score. Not sure by how much.
== == Your score could increase anywhere from 10-60 points total. There is no concrete number, this is an estimation.
You don't get monthly points, it doesn't work like that, the only way to increase your score is to have good positive open trade lines with no lates and as they get history and age on them your score will increase as time goes on.
how many points dose foreclosure decrease your credit score
Each case is different. One of my clients had a very small judgment ($100)against and her score shot up 100 points when she paid it off.
If the mortgage refinace was used to pay off other debt, it my increase your score. Not sure by how much.
100
== == Your score could increase anywhere from 10-60 points total. There is no concrete number, this is an estimation.
It depends on other factors of your credit report--but I have seen personally a FICO score increase 140 points once a judgment has been removed. Here are the scoring factors and their weights on a FICO scores: Payment History 35%, Amount of Credit Owing 30%, Length of Credit History 15%, New Credit 10%, and Type of credit in use 10%. Because these factors are considered, it depends. I would say from 50-150.
you score 3 points
You don't get monthly points, it doesn't work like that, the only way to increase your score is to have good positive open trade lines with no lates and as they get history and age on them your score will increase as time goes on.
how many points dose foreclosure decrease your credit score
6 POINTS
18
43 score-able points
36928 points.