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DRUMZ2B
08-30-2003, 03:37 PM
I usually check my credit report at least once a year with all 3 credit agencys and I noticed something odd. DVC does not show up on any of the reports. we make monthly payments so I would have assumed that this would be reportable info, be it good or bad. has anyone else noticed this?

floridafam
08-30-2003, 03:40 PM
It does not apper on your credit report unless you are behind in payments.

Even though it does not appear on your credit report, you must disclose it on a mortgage application.

DRUMZ2B
08-30-2003, 04:45 PM
I thought it would be on the report regardless of good or bad info.:confused:

DisneyHumbug
08-30-2003, 05:04 PM
I checked my credit report a few months ago and I also thought it was odd that DVC wasn't on it.

GAIL HAYDEN
08-30-2003, 11:27 PM
DVC does not disclose unless you are behind. I don't disclose anything not on my credit report. One of the reasons Disney does not disclose is because they don't want to "tie" up your credit.

JimC
08-30-2003, 11:43 PM
Disney's not reporting it does not change the facts. It is part of your monthly obligations and must be disclosed on any credit application that asks for such information.

I doubt if Disney cares how your DVC mortgage affects your credit availability because they have nothing at risk if you overextend yourself. If you default, Disney forecloses and resells the contract.

CRSNDSNY
08-31-2003, 06:28 PM
Originally posted by JimC
Disney's not reporting it does not change the facts. It is part of your monthly obligations and must be disclosed on any credit application that asks for such information.

I doubt if Disney cares how your DVC mortgage affects your credit availability because they have nothing at risk if you overextend yourself. If you default, Disney forecloses and resells the contract.

Am I correct in assuming that this makes it a lot easier to buy DVC?

JimC
08-31-2003, 08:22 PM
I don't know how strict DVC is in granting credit. But their risk is isolated primarily to the time and cost to foreclose and then resell a contract. With the interest rate charged on their mortgages, it appears to me that they easily cover their costs associated with risk, cost of capital and time value of money.