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You're very lucky if foreclosure is "painless" ... (by Carvan A.):

Mike497 writes: "I will not be responding to anymore melodramatic responses about imagined hits to my credit."

Mike497, I suggest you review the three national credit reports maintained in your name by Equifax, TransUnion, and Experian reporting your credit history. You may be surprised to learn that the foreclosure you so cavalierly dismiss as an "imagined hit to your credit" has in fact been reported by one or all three agencies thereby lowering your credit score by 100 or more points. The National Credit Reporting agencies report judicial results regardless of whether or not the creditor provides the information to them. They have programs that independently pick up judicial results including foreclosures, bankruptcies, divorces, and judgments. They do not wait for the creditor to report the information to them. It may have seemed painless at the time but the sting may come later.

Of course, if you did not have a deeded interest or were the member of a "vacation club" a judicial foreclosure would not have been necessary. If so, lucky you. The reason so many resorts have gone to points and vacation clubs in recent years is to avoid the expense of a judicial foreclosure.