There are 4 owners on our timeshare in Kauai. We just found out that the maintenance fees were not paid and we got a 30 day notice I guess before it forecloses. Will it affect our credit or mortgage in California?
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I just looked up Kauai and learned it is an island in Hawaii. A past due account or a foreclosure will likely affect your credit rating, and the credit ratings of other co-owners in this timeshare. If the timeshare was fully paid for, how hard would it be to cure the amounts owed on the maintenance fees and bring the account current? Be sure to consult your own attorney to protect your legal rights.
Yes, if there is either a foreclosure or a lawsuit filed, it will adversely affect your credit score.
Frank W. Chen is licensed to practice law in the State of California. The information presented here is general in nature and is not intended, nor should be construed, as legal advice. This posting does not create any attorney-client relationship with the author. For specific advice about your particular situation, consult your own attorney.
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