- Dec 22, 2018
- Reaction score
- Phoenix, AZ
- Resorts Owned
- Sedona Pines
Keep in mind that T/S mortgages would already be a credit line on one's report. The default is just an update of that credit line.Just some trends I noticed.
Out of 50 data points, 14 percent of MF defaults get reported to the credit agencies, while 59 percent of mortgage defaults do.
Canadian or foreign owners of US TS have less reason to worry about credit score drops.
Wyndham and Vacation Villages seem reasonable on MF default, but Wyndham and HIVC seem to report mortgage defaulters to the credit agencies.
On the other hand, MF are not a installment or revolving debt which are standard ongoing types of borrowing on one's report. MF default would fall into the next category being reported, a "collection."
These 2 paths would be consistent with how your home mortgages and HOA fees are reported. Unless your HOA has filed for collection, it is typically not shown on your credit report.