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John U.
I have a deeded timeshare at simpson bay resort and marina we want to give it back to the resort because of our financial situation and health problems. Keeping it is not possible. We tried to sell it with no success , does anyone know if theres a way to give it back to the resort and avoid forcloser. thank you: John
R P.
johnu15 wrote:I have a deeded timeshare at simpson bay resort and marina we want to give it back to the resort because of our financial situation and health problems. Keeping it is not possible. We tried to sell it with no success , does anyone know if theres a way to give it back to the resort and avoid forcloser. thank you: John
You cannot just give a timeshare back to a resort unless they accept deedbacks .... the vast majority do not.
Lance C.
johnu15 wrote:does anyone know if theres a way to give it back to the resort and avoid forcloser. thank you: John
Have you tried contacting the resort, explaining your situation that you really need to unload ownership? The resort might take it back. Some do, some don't.
When you say that you "tried to sell it with no success", how did you advertise it? How long ago did you start advertising it? Did you price it competitively, perhaps even offer to just give it away?
Remember not to be suckered into any of these scam outfits that promise to sell your timeshare for scads of money if you just pay them a one-time large fee. That's a scam!
John U.
Your message keeps coming up on my email how can i get to stop
John U.
Yes I have only one message in the general discussion forum please cancel or tell me what i have to do to get out of this I get repeat replies over and over again thanks john
Charles B.
I had a similar situation with Marriott Tahoe. Purchased for 40K/ Owed 20K. Asked them to do a Deed-In-Lieu of Foreclosure. The said they could not discuss my options until I was at least 90 to 120 days late on my payments to them. Soooo... I stopped paying. 120 Days later they started sending me collection letters and threatening to foreclose. They said they had no interest in taking it back. 18 months later they finally took it back in foreclosure. That was April 2011. I recently asked my bank to refinance my home. They said the foreclosure will remain on my record until 2016 and they can't talk to me about refinancing until after it falls off my record. Don't go through FORECLOSURE. Use REDWEEK to sell it. It's easy!
R P.
charlese127 wrote:I had a similar situation with Marriott Tahoe. Purchased for 40K/ Owed 20K. Asked them to do a Deed-In-Lieu of Foreclosure. The said they could not discuss my options until I was at least 90 to 120 days late on my payments to them. Soooo... I stopped paying. 120 Days later they started sending me collection letters and threatening to foreclose. They said they had no interest in taking it back. 18 months later they finally took it back in foreclosure. That was April 2011. I recently asked my bank to refinance my home. They said the foreclosure will remain on my record until 2016 and they can't talk to me about refinancing until after it falls off my record. Don't go through FORECLOSURE. Use REDWEEK to sell it. It's easy!
Yes, when you sign a legal contract to buy a timeshare and you stop making payments then the resort can and will foreclose, negatively affecting your credit score. On another note, if you still owed 20K then no one would have taken on that mortgage via resale .... it's hard enough to sell a timeshare in this economy, much less one with a mortgage owed.
Marty F
johnu15 wrote:Yes I have only one message in the general discussion forum please cancel or tell me what i have to do to get out of this I get repeat replies over and over again thanks john
John,
You can shut off the forum email notifications by logging in on RedWeek and clicking on the "Your Account" link on the top of the page. The click on "Email Subscriptions". You can delete whatever you no longer wish to receive.
Thanks, Marty
D R.
Well, we tried to do similar things to rid us of our timeshare. Found a company to transfer the deed out of our name in only three weeks. Cost is about 600. But I got email updates and checked the County Clerk in the State the timeshare was located,and all was done. I contacted my timeshare and was confirmed all transfers were complete. The Timeshare Company.com It may be worth a try. I was very happy with the outcome.
Don P.
Scam alert. This is a shill for the scammers. Don't get involved with these crooks. If it sounds too good to be true then it's TOO GOOD TO BE TRUE. They will be gone with your money and out of business before the ink is dry on the check you give them.
R P.
donp196 wrote:Scam alert. This is a shill for the scammers. Don't get involved with these crooks. If it sounds too good to be true then it's TOO GOOD TO BE TRUE. They will be gone with your money and out of business before the ink is dry on the check you give them.
And, the timeshare will probably still be in the original owner's name and they'll be billed for all future maintenance fees.
Brian H.
Just did a Quit Claim back to Westgate for a Florida, biannual, that we never used. Between cost of airfare, taxes, fees and "membership" costs on a depreciating "asset" that I did not want to pay for in retirement... it was already wasted money. Glad to be out of the hassle!
Bill F.
in other words you are screwed
R P.
brianh111 wrote:Just did a Quit Claim back to Westgate for a Florida, biannual, that we never used. Between cost of airfare, taxes, fees and "membership" costs on a depreciating "asset" that I did not want to pay for in retirement... it was already wasted money. Glad to be out of the hassle!
I believe that Westgate takes deedbacks .... one of the very few resorts that do so, however I doubt seriously they would take one back with a mortgage owed.
Last edited by jayjay on Jul 30, 2013 08:57 AM
James J.
Stop paying the maintenance fee they will take it back if they ding your credit which most threaten but won't because it hurts their future sales then you can get it removed.
Stop paying simple as that
R P.
jamesj406 wrote:Stop paying the maintenance fee they will take it back if they ding your credit which most threaten but won't because it hurts their future sales then you can get it removed.Stop paying simple as that
No can do ..... future sales have nothing to do with current owners defaulting paying maintenance fees .... you've signed a legally binding contract to buy that timeshare, period, and the resort will come after you if you default. If you don't care about your credit score then go ahead and default.
