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

James,

Congratulations! I am pleased to read that you were able to negotiate a deed in lieu of a foreclosure to unload the unwanted timeshare. The $750 for closing fees is steep and far in excess of the actual expense incurred by the resort but still a bargain when one considers being free of future maintenance fees not to mention special assessments.

The purpose of the deed in lieu of a foreclosure is to protect your credit rating and it should not be adversely affected at all by the recordation of this deed.

Also, there should be no adverse impact on your credit for any past due maintenance fees because most resports to not report the payment or non-payment of maintenance fees to credit reporting agencies . Anyone who does not believe me should pull their own credit reports and you will see the resorts do not report the timely payment of your maintenance fees. If they do not report the good they cannot legally report the bad per Federal credit reporting laws. They report neither the good or they bad because the maintenance fee is not a personal obligation. Any doubters out there should pull their own credit reports and verify whether their maintenance fee payment record (good and bad) is reported.