She pays over $2k a month for a WorldMark timeshare Platinum membership. It's been going on several years, and she thinks she still has many more to go. Maybe ten more years, she's not sure. Even when it ends, apparently she's on the hook for monthly maintenance fees indefinitely.
I need to get her out of this.
She's almost 70, takes care of my Alzheimer's-addled father, and still works full-time and pays a mortgage that has like 30 years left. She's living paycheck to paycheck right now. She has already been taken by a couple resale scams to the tune of several more thousand dollars. Basically, my parents obviously made some poor financial decisions and my brother and I are now trying to mitigate the ongoing damages as best we can.
I've asked her to speak to a financial adviser. Apparently there are lawyers who specialize in real estate who might be able to advise, but they'll require a fee I assume.
What happens if she just stops paying the $2k/month? Obviously her credit will be damaged, but can Wyndham/Worldmark actually garnish her wages, take her house, etc.? She lives in California. She's already given them well over $100k and gotten back maybe a tenth of that using the points for a few vacations. How vicious will they be to hold her to the remainder of the contract?
I need to get her out of this.
She's almost 70, takes care of my Alzheimer's-addled father, and still works full-time and pays a mortgage that has like 30 years left. She's living paycheck to paycheck right now. She has already been taken by a couple resale scams to the tune of several more thousand dollars. Basically, my parents obviously made some poor financial decisions and my brother and I are now trying to mitigate the ongoing damages as best we can.
I've asked her to speak to a financial adviser. Apparently there are lawyers who specialize in real estate who might be able to advise, but they'll require a fee I assume.
What happens if she just stops paying the $2k/month? Obviously her credit will be damaged, but can Wyndham/Worldmark actually garnish her wages, take her house, etc.? She lives in California. She's already given them well over $100k and gotten back maybe a tenth of that using the points for a few vacations. How vicious will they be to hold her to the remainder of the contract?
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