Categories: Florida ArticlesOp/Ed

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…………..

Editor

Recent Posts

Hurricane Preparedness: Beyond the Basics (FL)

As Floridians, the dance of hurricane prep is an annual occurrence. From June to November,…

6 hours ago

Uncovering Asbestos During Condo Refurbishment: Navigating Challenges and Options (ON)

Embarking on a major refurbishment project for a condominium is an exciting endeavor, promising revitalized…

10 hours ago

Enhancing Condo Aesthetics: Window Replacement vs. Repainting Considerations (ON)

In the realm of condominium maintenance and improvement, decisions regarding windows and exterior aesthetics are…

10 hours ago

Big Changes to Condo Record Laws (FL)

If the association is still doing things the old fashioned way and making deposits by…

13 hours ago