 TITLE: What Happens When You Pay Off Your Mortgage? CONTENT: Monitor Your Credit\n-------------------\nOnce all of the paperwork associated with your mortgage repayment is completed and filed, check your credit report to ensure it accurately reflects that your mortgage has been satisfied.\nHaving a mortgage in good standing can help your credit since on-time loan repayments over a long period looks great to lenders and creditors. Paying it off can have an impact on your credit score, though it's usually minor. If it was the only installment loan on your credit report, your mortgage dropping off could cause a slight decrease in your credit score since you'll no longer have a source of regular positive loan repayment or a mix of different credit types. If the rest of your accounts are in good standing, the change should be negligible, but it's smart to keep an eye on your credit just to make sure there are no big changes. END