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Re: What happens if you just stop PAYING? (by R P.):

ken1193 wrote:

An alternative approach that I actually like better is one employed by a certain RCI Points facility located in Texas (although I probably should not provide the resort identification). At that particular facility, as soon as maintenance fees become in arrears, the owner is promptly locked out and foreclosure promptly begins. One attorney / law firm gets all the business at a reduced rate and they act swiftly and decisively. There is no owner there two years in arrears, because before "year two" of delinquency ever even arrives that owner has already become a FORMER owner and the week resold. The maintenance fees at this facility are, as one might expect, very low indeed --- since 98+ % of all ownership accounts are current at all times...

I am in complete agreement with your statement above. Some resorts are far too lenient. We were once at a (gold crown, ocean front) resort's front desk when an owner called in wanting to use his unit .... he was in arrears a couple of years on his maintenance fees. The front desk told him that he would have to pay his maintenance fee(s) before being allowed to enter.

He should have been put in foreclosure the year before when he didn't pay his maintenance fees.