It's looking like we may not have another home bought before we close on our current home.

If this happens and we have to continue househunting for a while, I'm thinking that our preapproval is going to "expire" at some point and our credit will need to be re-run. Does anyone know what will happen if they re-run our credit and we no longer have a mortgage? We also will have shut down all our utilities as we'll be staying with family, so none of that will be in our name.

i would think it would be ok because you can explain what happened. There should also be something on your credit report that the mortgage has been paid.

No worries, your positive mortgage trade line will stay on your credit report for ten years.

All good credit stays for ten years and all bad (excluding judgments, tax liens) credit stays for seven years.

Your credit score should actually go up now that you are not carrying that debt any longer.

Best of luck

Have you asked to rent back after closing. Some buyers do not move in right away anyway. .. are they moving in from another state? Do you know if the closing is a mail away or will the buyer be at closing in person. Never hurts to ask if you can rent back for 30 days. I don't think the Realtors would object with your closing set.

Short term renting between selling and a new
purchase won't hurt you. Generally Credit reports are good for 90 days, but they'll just
need to run a new one if yours is older, but recent pay off of a mortgage won't affect your
score.

We sold in April '06 and did not buy again until Aug '06. There was no problem getting everything done and no problem with credit report. Relocating to another state too can have affects on your credit rating.

Insurance co. check your credit rating before taking you on as a customer. Most mortgage company know that many companies will be checking your credit during a house purchase. Just don't go out and get a ton of new credit cards or take out other loans like for a car when you are getting a house loan. These are the things that affect your credit score.

Loves Tx