A Failure to Pay Assessments Will Negatively Affect Credit Scores and It Is About Time and Long Overdue

Until now, failing to make timely assessment payments could lead to additional charges for late payment fees, interest charges, collection fees, and may even result in the filing of a lien against your property and foreclosure of the recorded lien. However, delinquent assessments rarely show up in the member’s credit report, unless the debt becomes a matter of public record (e.g., an assessment foreclosure) or the debt is reported to the credit bureaus by a collections agency.   Read the article…………..


Related Articles

Firm Obtains Court Order Discharging Mortgage from Penthouse Unit Owned by Association (FL)

During the foreclosure crisis, lenders elected to file foreclosure actions but often failed to conclude their cases, resulting in the

Can a Python Be an Emotional Support Animal?

Can snakes, the animal commonly known for instilling panic upon sight, actually help to ease anxiety? According to snake owner

Does your condominium, cooperative or HOA board know if and when it is appropriate to grant a hardship exemption?

I am often asked by boards for whom I am rewriting or amending governing documents to include the right to