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whattheduce86 t1_jabaiw9 wrote

Reply to comment by LeeOblivious in Used cars by Middle-Recording-807

Are you new to how credit works? I paid off my medical debt and went from having a 700+ score to no credit. The mortgage company recommended a quick credit card and got my score up to almost 800 in a week and was able to give me a mortgage.

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LeeOblivious t1_jabbaiu wrote

What you experienced was a closing of credit lines along with other factors. NOT a paying off of debt.

Prior to buying my home, I paid off my car, and credit cards. But I keep the line of credit open and still used the cards (just paid them off in full each month incurring no debt). I had no loss of credit score and was easily able to get financing.

As long as you have proper documented income and open lines of credit, you will have no issues getting financing.

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