Can a time sharing property be put on my credit file even if it does not appear on there now? 2 Answers as of February 03, 2014

I have a time sharing property I have the deed. I fell behind in making my payments and cannot catch up. So now, they want to foreclose the property. But they're saying that it will affect my credit file but it is not listed on my credit report. Nowhere I have had this time sharing for over 5 years.

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
They can add it at anytime if they like. Just because they did not bother before does not mean you are not responsible now.
Answer Applies to: New York
Replied: 2/3/2014
Janke Legal Consulting | Bruce C. Janke
The description or ownership of property is not included in your credit agency reports. But if you are making mortgage payments, your loan and payment history should be there. The history shows how many months late your payments are. If a foreclosure is completed, that fact will also be reported. You might have to look carefully at the reports. The loan should be listed under the name of the lender. It is possible that the loan has been sold to a bank or other institution that you don't recognize. Also, the lender may be reporting to only one or two of the three credit reporting agencies, Experian, TransUnion, and Equifax, so you have to get copies of all three reports.
Answer Applies to: California
Replied: 1/30/2014
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