Original Message:
Time share cancellation and deed return question-PLEASE HELP (by Lance C.):
brunop9 wrote:The resort at first told me that i couldn't get out, then they changed their story and told me that i would have to pay the maintenance fees coming up in Jan 2017th and they would take the deed back after i sent them the signed transferred deed form.My question is: Do i really need to pay them the $1000 January fees in order to get out? I feel they are trying to get the last bit of money out of me before they take the deed back. Money is real tight, we just can't afford to pay that. What is the worst thing that can happened if don 't pay the fees and send them the signed form to take the deed back without paying?
Believe it or not, resorts asking owners to pay the next maintenance fee (and perhaps closing costs) in order to take the units back is quite popular in the timeshare industry nowadays. If you do go that route, at least you won't be dealing with a third party and you know it will be legally and finally transferred out of your name. You might notice in some ads where people are trying to give their units away that are similar to yours, are offering to pay closing costs and the next maintenance fee as an incentive for a new "buyer" to take it.
You can risk foreclosure if you like with the risk of the resort coming after you for unpaid maintenance fees. I'm not too sure what the ramifications would be for you living outside the USA, but that's a risk you will have to take. You also have to ask yourself What is my clean credit score worth to me? Are you planning on taking out a big loan in the near future?
As a side point here, since you appear quite reluctant to pay the $1000 to safely and legally give back your timeshare, it goes without saying that you should not pay any law firm or other company thousands of dollars who claim they can legally "cancel" your timeshare. Right now, what the resort is offering you appears to be the cheapest and most efficient option.