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Re: Re: Re: WALK AWAY FROM TIMESHARE (by KC):

clemn wrote:

You can't give them away. No one will take them for free at least I haven't found one. Only scammers will offer to buy and take your money to Venezuela

Not necessarily true; it depends on the particular timeshare and its' location, season, unit size --- and maintenance fee amount.

That being said, it is certainly true that many (maybe even most) timeshares have little or no resale value. Even giving it away for free is often not good enough. Some owners offer to pay closing costs and a year of maintance fees themselves in order to rid themselves of their unwanted timeshare ownership --- and even that effort often does not succeed.

"Deedback" to the resort is sometimes an option, but the resort must be willing to accept it back. Most are not willing, some are.

The last resort (no pun intended) is to simply stop paying and just walk away. That choice will ultimately result in a foreclosure, but unless there is also a loan default involved, there are usually no consequences to timeshare foreclosures. Defaulting on a loan is another matter entirely and defaulting on a loan (ANY loan) will almost always have negative credit report consequences (which will remain in place for 7 years).

Sadly, timeshares are very easy to acquire but, more often than not, extremely difficult to get rid of later.