Original Message:
Re: IBD-MARKETING . HAS ANYONE HEARD OF OR DEALT WITH THEM ? (by R P.):
I'm afraid your good credit will be soured if they foreclose on you, however there are some resorts that will take deedbacks or they will try to sell your timeshare for you. I would go this route before going into foreclosure. This is assuming your timeshare is paid off?
Also, you could try listing it on Redweek at a marketable price which would be 1/3 to 1/4 of developer price. If you bought from the developer, you will take a huge loss on the resale market in 99.9 % of cases. It's like drving a new car off the showroom floor and the loss you take there, only developer timeshare losses are worse.
bitsyg wrote:Can anyone tell me if we let it go and foreclose on it...is it the same as foreclosing on a house? I've got it listed with 2 companies and it isnt selling and we're in a real crunch...sad thing is I finally got my credit score up.