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Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

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Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

Avatar for yasming yasming

1 year ago
Feb 01, 2013

Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

yasming wrote:
I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

Sorry to have to inform you, but Westgate owes you no refund for your paid up week since you signed a legal contract to buy that week.

Last edit by jayjay on Feb 02, 2013 08:49 AM.

Avatar for jayjay jayjay

1 year ago
Feb 02, 2013

Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

yasming wrote:
I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

Did you get any notices before they foreclosed on you? You should have received plenty of notices first.

If so, what did you do or how did you respond?

Avatar for lancec13 lancec13

1 year ago
Feb 02, 2013

Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

Avatar for vickw2 vickw2

1 year ago
Mar 24, 2013

Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

vickw2 wrote:
Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

Have you thought about trying to sell of give it away first?

Avatar for lancec13 lancec13

1 year ago
Mar 25, 2013

Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

vickw2 wrote:
Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

If your resort chooses to report you to the credit rating agencies for non payment of maintenance fees then your credit will take a hit.

If your week is paid for then you can choose to get in contact with the resort and ask if they'll take it back ..... some do but most won't.

Avatar for jayjay jayjay

1 year ago
Mar 25, 2013

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