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Re: IA Vacations/ American Timeshare Closings (by R P.):
dwaind2 wrote:It has got to the point I would GIVE my Summerbay T/S away just to get rid of the payments and maintenance fees. We have learned the hard way by loosing thosands by "paying" someone to sell and now dealing with fraud complants to our credit companies and banks. MAJOR headachs. From what I have been able to tell Timeshare sales have dropped to near bottom. I have not ruled out forclosure, but afraid what the credit recourse would be. has anyone found a true Timeshare Sales company out there? Dwain
If you financed your timeshare and are still making payments, then there's no way anyone will take it off your hands. It's hard enough in this economy to sell a timeshare when it's paid off. If you let it go into foreclosure it will ruin your credit, both for not paying off the loan and not paying maintenance fees. I feel your pain as you are between a rock and a hard place .... the best advice I can give you is to pay it off and then try to sell it, but be aware that some timeshare weeks can't even be given away .... it depends on the supply and demand of the week you own and the resort ..... both Orlando and Vegas (don't know which Summer Bay you own at) are severely overbuilt with timeshare resorts.