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Yes, it is legal to report HOA Assessments to the credit bureaus. Similar to credit card or mortgage payment reporting, The Fair Credit Reporting Act allows for the reporting of community association payments and delinquencies to a credit bureau, on behalf of an HOA or condo board. Which regulation governs credit reporting? The Fair Credit Reporting […]

Do you know why credit score matters? Are your tenants and homeowners aware that their credit scores could affect the interest rates for loans?   Here’s one reason why credit score matters. Your credit score is used by creditors like banks, collection agencies, mortgage lenders, and insurance companies, in making financial decisions involving consumers’ credit-worthiness and solvency.