Post reply

Re: Sell or not pay (by Carvan A.):

jamesm628 wrote:

Thank you for your response and good advice. The resort Oak Plantation wants to charge me $750. in advance of sending me any documents to look at and sign to get out of this albatross of a deal. Does this sound like another scam to get more money. They will not even email me information about this process so I can make a informed decision. I have two weeks to make the decision or they will foreclose as I have not paid for this year MF yet. It just sounds very underhanded. Another option is to try to donate the TS. Any experiance with this route?

Thanks for reply JM

Do you have anything in writing signed by a corporate officer of Oak Plantation setting out their proposal? If not, definitely don't send a check. A Deed in Lieu of Foreclosure is a win-win for both you and the resort because foreclosures are expensive and time consuming for the resort and it keeps your credit report free of a foreclosure. But, you must be very careful when dealing with folks over the phone who may have no authority to act on behalf of the company. Get it in writing or no deal.

Get everything in writing signed by a corporate officer and when you send a check to the company be sure to include a restrictive endorsement on the back setting out the terms of your agreement with a clause indicating that their endorsement frees you from all debts and obligations to the resort.

Your last question relates to donating the TS to a charity. Be aware that if you cannot sell your TS because of a saturated market in Orlando it is probable that a charity will not want it either. Remember their goal is not to help you out of a bind but to raise money for their charity and if your TS has no value the charity will not take it.