Original Message:
Re: Current info on walking away from a timeshare (by Lance C.):
maryr474 wrote:Could someone please clarify the consequenses between walking away from a timeshare with a morgage vs paying off the morgage and walking away from only maintenance fees/taxes?
If you walk away from only the maintenance fees, then the resort will come after you with collection agencies and other resources to try to collect your due maintenance fees. Your credit score and report will be adversely affected.
If you walk away from one with a mortgage still owing, then the mortgage broker (a different entity altogether from the resort) will also come after you.
Other consequences are that, if you fail to pay your maintenance fees, the other owners at the resort will get a bill to cover your unpaid maintenance fees.