Original Message:
Hope springs eternal, even when unfounded... (by KC):
mistym105 wrote:So in your opinion what is the best option to get out of this timeshare?
You haven't identified the timeshare or its' status (i.e., loan balance, location, resort, season, deeded or RTU, etc.), so there is really no information on the table here on which to base any opinion. Some general information and suggestions follow:
If you have a loan balance, you will not find a new recipient at any price (even for free). The loan balance is surely much more than the timeshare is worth; consider defaulting on the loan, facing foreclosure and taking the inevitable credit report hit.
If there is no loan balance and maintenance fees are fully paid up to date, ask the resort HOA if they will accept a "deedback". If the HOA will accept a "deedback", that is definitely the cleanest, quickest (and lowest cost) way "out".
If "deedback" is not an available option, but everything is paid up, you can try to give it away for free (I suggest the Bargain Deals section of Timeshare Users Group; see https://www.tug2.net). Unless it's a undesirable studio week in Timbuktu, or has obscenely high annual fees, you might find someone willing to take it, but you might also have to offer to pay all closing costs and any applicable transfer fee.
If it's paid up to date and you can't "deedback" to the HOA or find a willing new recipient, you can simply stop paying anything further; at some point they will foreclose. There will likely be some "collections" calls before foreclosure, but no negative credit report consequences *if* (and only if) there was no loan default.
That's really all I can offer you with no information or details having ever been provided about the particular timeshare with which you now seek to part company.