Credit score dropped due to paying mortgage off!

Air_Cooled_75

As RMS2 says, you haven't actually paid a mortgage off, that's something my parents have done, they live in the house they had on a mortgage then paid the balance off and still live there, they own it outright. They could move to another property and buy it *cash*. You simply settled the account with the bank and don't have the collateral of bricks and mortar.

We did the same in 2003 when we moved to another part of the country, I never even thought of it as paying off the mortgage.