Original Message:
Non-deeded right to use vacation club (by Richard C.):
Our timeshare or what we thought was out timeshare is a non-deeded right to use vacation membership. We do not own anything. We fulfilled our loan obligation back in 2012. We have been paying increasing annual maintenance fees each year for something we don't own or use anymore. I had asked the company to simply take it back and cut our losses. Their response was simple. They don't offer deed buy backs. We do not have a deed for this vacation property and have never received any notice about a deed for this property. I told them that I just want to be done with it and walk away. Their response was you need to honor your contractual obligations. If you stop paying annual maintenance fees we will be forced to foreclosure on the property and it will severely impact your credit rating. Am I missing something? How can they foreclose on a non-deeded vacation property that I owe nothing for aside from annual maintenance fees. Any insight would be greatly appreciated.
Thank you.