Original Message:
Wyndham's "Ovation" program --- pleasure vs. pain... (by Stu M.):
garyb756 wrote: "Of course not forced to take it over, but if somebody inherits one with one of those 21.99% Apr mortgages, a foreclosure is quite likely, which is a permanent stain on their Fico score. Defaulting on maintenance fees can result in a judgement which extends to one's credit score as well and will certainly increase the rate on any new loan or credit card they may want to acquire."
As I understand things from my own attorney and various readings, no one has to accept what he/she might inherit. If I have an elephant and will it to you, meaning that you have inherited it, you do NOT have to ACCEPT it. You write a letter of disclaimer and walk away. Check with your own attorney and/or estate planner.