Report Abuse

Re: Manhattan Club Lawsuit

The email I received indicated if I relinquish ownership: "When we receive the documents back from you (a) we will send you a settlement check for the amount of $100.00 and (b) you will then be relieved of all existing and future financial obligations owed by you to the TSA and former Sponsor under your mortgage, if applicable, preventing a foreclosure lawsuit being filed against you." I think all existing obligations would include any outstanding maintenance fee payments. This does, of course, not address the difference between the value of our timeshares and the $100 we are being offered to walk away from this mess. And they have put pressure on by indicating, "We are grateful we have found options to avoid a foreclosure lawsuit being filed against you with all of the related negative consequences to your credit standing. Please respond to this email within seven (7) days to resolve this matter by selecting Option 1 or 2." Does anyone know if timeshare foreclosures affect one's credit rating? Thanks, Karen