does late payment to a homeowners assn. affect credit rating?

Asked by Sandra, 80134 Fri Oct 2, 2009

I have a $4,000 special assesment that is to be paid in 12 mos., this is a hardship, if I pay it in 18 mos. will it affect credit rating?

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CCC, Home Owner, San Diego, CA
Fri Oct 2, 2009
Only if the Association reports to credit bureus.
I recommend to talk to them, as you are part of the association, and explain that you are not able to make 12 payments. Let them know that 18 will be better so there are no surprises.
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Janet Guilba…, , Alamo, CA
Fri Oct 2, 2009
To my knowledge, homeowners associations do not report to credit bureaus.
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