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Stop paying MF Orange Lake

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Hi

I have a timeshare at HIGV at Orange Lake. All paid up

Maybe a silly question but what happens if we just don't pay the MF'S.

We haven't used the thing for 2 years and are paying just over $1000 per year. Total waist of money. The time share is paid up years ago.

I read on other pages about credit rating etc.

We are in the UK so know that this won't affect credit ratings as that would only be for the UK credit I believe.

If I just stopped paying what would happen.
 

Bailey#1

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There is still value in HIGV at Orange Lake try renting your unit out or give it away.
 
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There is still value in HIGV at Orange Lake try renting your unit out or give it away.
Thanks Bailey. But no value in actually someone paying for it?

I have thought about giving it away. I will have a look on here in the bargains section.
 

theo

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If you just want "out", you are likely not interested in becoming a trans-Atlantic "landlord", with the associated time, effort (and uncertainty of success).

You can of course just simply stop paying your fees and default, with inevitable foreclosure to follow at some point thereafter. Alternatively, for a cleaner (and likely quicker as well) "exit", you can first attempt to give the ownership away by advertising in the TUG "Bargain Deals" forum. With a maintenance fee bill for 2017 surely now in your hands for some time already (and now due), you'll need to give some serious thought to that maintenance fee bill, closing costs and transfer fees --- or more specifically, just who would be paying those inevitable costs in a transfer of ownership. If your week is a relatively high demand week, perhaps a willing recipient will step forward in response to a Bargain Deals listing, willing to pay the 2017 maintenance fee amount and the closing costs in order to get the 2017 usage. Or maybe a compromise, "splitting" those transfer costs. Frankly, I'd at least give that route a try before just passively allowing inevitable foreclosure --- but that is of course your own choice and decision to make. Good luck!
 
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If you just want "out", you are probably not interested in the exercise of becoming a trans-Atlantic "landlord".

You can of course simply stop paying your fees and default, with inevitable foreclosure. Alternatively, for a cleaner (and likely quicker as well) exit, you can first attempt to give the ownership away in the TUG "Bargain Deals" forum. With a maintenance fee for 2017 likely now in your hands already due, you'll need to give some thought to that maintenance fee bill and closing costs and transfer fees --- or more specifically, who will be paying those inevitable costs. If your week is a relatively high demand week, perhaps a willing recipient will step forward, willing to pay the 2017 maintenance fee amount and, of course, get the 2017 usage. I'd frankly give that a try before just passively allowing foreclosure, but that is of course your choice and decision.

Thanks for your help. Yes 2017 fees paid. We now have 2 years worth of points. Which I'm actually using to transfer to Vegas for March this year. So will more than likely look to do something at the back end of 2017.
 

tschwa2

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Most weeks system wide have $0 value. A few have $500-1000 value. Very few have more value. Without knowing the specifics, your week likely has $0 value. That being said, I have heard that HICV does take back paid current ownerships with a modest fee.
 

Tank

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It is HICV with Orange Lake by the way.

I have heard that HICV will take them back if you persist but everything must be paid for up to date. As you know they have no value but people will take them off your hands. Again to transfer , everything needs paid up to date.

I rent several for people that are not comfortable doing so, you could get that $ out of it especially if you are a points owner and can hand pick your week.

Buy now you have such a terrible taste in your mouth , I'm sure you want to just get rid of it.

Good luck

Dave
 

TUGBrian

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TamaraQT

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Thanks Bailey. But no value in actually someone paying for it?

I have thought about giving it away. I will have a look on here in the bargains section.

If you are seriously interested in giving it away, please send me a private message of the details of your ownership. Looks like you have plans for using it in 2017 but I may be interested in taking ownership in 2018 depending on the details of what village you own in, # of bedrooms and summer months availability. Please send me a private message.
 

theo

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If you are seriously interested in giving it away, please send me a private message of the details of your ownership. Looks like you have plans for using it in 2017 but I may be interested in taking ownership in 2018 depending on the details of what village you own in, # of bedrooms and summer months availability. Please send me a private message.

I respectfully suggest that you send a private message of your own (now called a "conversation" in the new TUG software) directly to the OP. While s/he may see your post here, s/she might become sooner notified and aware of your interest if you send a message of your own. Your call; just offering a suggestion.
 

riverdees05

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Another option is that you can contact Orange Lake and see if they will take your deed back. They do a limited amount of deed backs each year.
 

TamaraQT

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I respectfully suggest that you send a private message of your own (now called a "conversation" in the new TUG software) directly to the OP. While s/he may see your post here, s/she might become sooner notified and aware of your interest if you send a message of your own. Your call; just offering a suggestion.
Thanks Theo....i sent a private message...but noticed person is listed as a guest and not a member so I wasnt sure they were aware of private messages so I wanted to cover all bases. But generally I would only do this by private message.
 
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