Original Message:
Re: why are timeshares selling for zero dollars??? (by R P.):
wiscombe wrote:My followup question: why don't people just stop paying the maintenance fee, and let the timeshare be repossessed, or whatever they do in such case? Why do they give some charlatan $3000 to get rid of it?
Again, foreclosure will negatively affect a credit rating. One signs a contract to buy a timeshare (property ownership listed in county records) and that comes with the obligation to pay all fees concerning that timeshare ownership. It's sad, but that's just the way it is .... it's property ownership.