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Re: Getting rid of a time share. (by Amma M.):
When I paid off the loan for the time share in 05, my accountant noted an overpayment of the interest. We were never able to recover the funds from Shell. We decided that $4,400/year in maintenance fees was excessive and that our funds would be better used for retirement savings. Also maintenance fees are non-deductible. Essentially, we were paying fees for 2 weeks per year, and on many occassions the weeks were not available when we had the time to travel. There has been no adverse impact on our credit. Likely due to the large payoff. I am just relieved it is over. I checked this site to see if there were any comments about the tax impact on foreclosure which would likely help me, and that I could discuss with my accountant. Buyers beware!