Late HOA payments may begin affecting your credit score

Homeowners associations collect roughly $70 billion in maintenance payments every year and with the increasing number of late and default payments, associations are suffering and other than slapping a late fee on an owner's account, there is little recourse on their part, until now that is. 
Beginning in October, homeowner associations will begin reporting account status data to Equifax, one of the three major credit reporting agencies. 

Read more

---