Original Message:
Wyndham's "Ovation" program... (by Johnathan):
even if the mortgage is paid off, you will still loose all the money you put into it. Unless you own a New Year's Week in a Prime Location, the timeshare resell business is awful.
So you have 2 options:
1. Finish paying thousands and save your Credit Score. or 2. Save thousands, don't pay mortgage, go into foreclosure. In 7 years your credit score will be back to a normal level. (As thats how long it takes for credit companies to wipe off foreclosures from your history).
Im no expert, but thats the truth. Plan accordingly.
The resort is all for it, as they will get back their week without paying a dime (well.... only a foreclosure fee of $600), and resell it full value ($20k-$50k) to the next bozo! ... Now that is a business!