[2015] About to Start the Foreclosure Process

[jlf58]

Bankruptcy is one form of discharge of debt and there are others. To call them deadbeats is short sided, bigoted and narrow minded. Saying those people are to dumb to manage their life shows your ignorance. Don't trip off that pedestal you put yourself on.

Discharge of a debt is not a right. Try it with your house mortgage. It is a gesture by the holder of your debt. Mostly given to deadbeats, where "getting blood from a turnip" is a waste of time and money. Or those who are too dumb to manage their life, or cannot control themselves. And a few unfortunate souls who through no fault of their own are put into that situation as in old age, disability etc.,where their only solution, after trying to give away or sell.
Buying a timeshare does NOT fit into the category of a reasonable reason to relieve debt. They should be forced into bankruptcy.



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[DeniseM]

Discharge of a debt is not a right. Try it with your house mortgage. It is a gesture by the holder of your debt. Mostly given to deadbeats, where "getting blood from a turnip" is a waste of time and money. Or those who are too dumb to manage their life, or cannot control themselves. And a few unfortunate souls who through no fault of their own are put into that situation as in old age, disability etc.,where their only solution, after trying to give away or sell.
Buying a timeshare does NOT fit into the category of a reasonable reason to relieve debt. They should be forced into bankruptcy.

Ray - I'm thinking you must have a split personality, because you wrote this compassionate response in post #35 in this same thread. But now, you want to force the OP into bankruptcy?

Man I can't even imagine what your going through. We hope that Wyndham has compassion. For those who have no debt, at least there is resale and Ovation.

Your most recent post was out of line - I recommend that you not post in this thread any more.

 

[Ozlander]

Bounce to the top.
Wondering what's new.

 

[mslsu5]

Bounce to the top.
Wondering what's new.

Nothing new on my front.

 

[GoChiefsorBust]

Good Morning! OP here. NOTHING ZERO NADA to report. It's been radio silence for the both of us.....yet I still get the travel magazine in the mail. I was wondering if they'll start it back up around the holidays, or if they are working on more pressing matters than ours, but I told ex to NOT contact them no matter how badly he wants to know what they're doing on their end. I do occasionally wonder why they're dragging their feet on this. Just close out the issue / "prosecute" us and get it over with already. Hmmm. Thoughts?

 

[therese]

wyndham foreclosure

I am glad to hear via this thread that wyndham won't put lien on your home. That is one good thing if you have to go into foreclosure.

 

[Ozlander]

Can you still access tour account?
If not, I suspect you not longer exist in Wyndam's world.

 

[GoChiefsorBust]

Can you still access tour account?
If not, I suspect you not longer exist in Wyndam's world.

I'm late seeing this! I wonder why I didn't get the notification. Anyways! Nope, I can't access anything. And I haven't heard ONE.FRIGGIN.PEEP from them at ALL. No correspondence, no calls, zip.

 

[Miss Marty]

Wyndham Vacation Ownership La Casada Resort San Antonio, Texas.

I have been lurking on this site for about 2.5 years. I discovered it about 2 months AFTER my soon to be ex husband and I purchased ownership at La Cascada (San Antonio, TX). We have 308k annual points, and we were paying a LOT for it in maintenance and loan fess.....almost $1k/month.

Wyndham La Cascada is located along the famous River Walk at 226 Dwyer Avenue, less than two blocks from the downtown River Walk loop in San Antonio, Texas. Valet Parking is available for $18 per day per vehicle .

Have you been checking Bexar County Recorder
of Deeds, Mortgages and Foreclosure Records?


https://bexar.acttax.com/act_webdev/bexar/index.jsp

 

[GoChiefsorBust]

Hi Miss_Marty,

I didn't think to check there. That's a good idea! I'll report back with what I've found, if anything......

 

[Wyndhamgotme]

Hi Miss_Marty,

I didn't think to check there. That's a good idea! I'll report back with what I've found, if anything......

I just bought timshare from Wyndham. I am also late to the party. I am upsidedown butt****


So I am a little confused from reading and reading and reading. What option did you go with at the end? You chose to pay for that small portion to end everything? Or did you still not pay a single dim?


I am about to start my own foreclosure too. Thanks so much by the way. Can I donate some money to you when I am out of this situation?

 

[DeniseM]

I'm not sure it is accurate to call it a "small portion," because GoChiefsorBust has been an owner for 3.5 years.

GoCheifsorBust choose foreclosure.

That means, that she has lost all the money that she already paid: down payment, monthly payments, and monthly maintenance fees - for 3.5 years.

It also means that she defaulted on the loan, and there may or may not be consequences - such as damage to her credit rating - although so far, she hasn't found any.

 

[Ty1on]

I think WyndhamGotMe is referring to the offer to pay 15% of the loan to have the credit report reduced from Foreclosure to Settled for Less Than Owed.

She chose not to pay them any more money.

 

[Wyndhamgotme]

I think WyndhamGotMe is referring to the offer to pay 15% of the loan to have the credit report reduced from Foreclosure to Settled for Less Than Owed.

She chose not to pay them any more money.

Ty, that's what I was looking for.

Good to know.

 

[GoChiefsorBust]

Happy Holidays everyone! Just checking back in to say that as of today, (December 30, 2016) I have not heard anything from a creditor / Wyndham....the same goes for my ex. I am, however, still receiving the magazine that is sent out? Not sure if that means they still consider us owners or what not.....Any ways, I'll check back in about 3 months from now....sorry I can't contribute more of a better update. Have a safe New Years!

 

[GoChiefsorBust]

I just bought timshare from Wyndham. I am also late to the party. I am upsidedown butt****


So I am a little confused from reading and reading and reading. What option did you go with at the end? You chose to pay for that small portion to end everything? Or did you still not pay a single dim?


I am about to start my own foreclosure too. Thanks so much by the way. Can I donate some money to you when I am out of this situation?

Hello Wyndhamgotme!

Good luck with your situation, I hope you have received some answers and guidance. The people here on the forum are really knowledgeable! And thanks for the offer of donation, but PLEASE use that to build up your savings for a rainy day fund! The money that I was pouring into Wyndham I now put into savings (which greatly helped me when my 22 year old car died and I had to get a new one! Wouldn't have been able to afford it if I were still struggling to make Wyndham payments).....you're so kind to even offer

 

[GoChiefsorBust]

Hello Everyone,

It's tax season, and I have an update. Ex received a 1099-A (Acquisition or Abandonment of Secured Property Form) from Wyndham. It's NOT a 1099-C (which states that the debt has been forgiven), but it's the only piece of correspondence we have received in months, so......Anyways! Here's hoping that the next piece of mail IS a 1099-C and we can all move on with our lives. FYI, the 1099-A is just for record; I don't have to file this on the taxes.

Have a great day~

 

[Miss Marty]

Tax Topics - Topic 432 Form 1099-A

‎ A commercial lender canceling a debt will issue a Form 1099-C
(PDF), Cancellation of Debt, to report the cancellation.

On Form 1099-A, the lender reports the amount of the debt owed (principal only) and the fair market value of the secured property as of the date of the acquisition or abandonment of the property.

https://www.irs.gov/taxtopics/tc432.html

 

[spartyfan17]

Hi newbie here, I’ve been reading this thread as it has been an option my husband and I have been considering. I’m just wondering what happened?

 

[OMG!]

I'm in deep trouble...of my own making. December 2016, bought points in NYC to become "legit" owner (I had 2 weeks given to me following death in family). Feb. 2017, vacation in Daytona and bought into CWA. Never considered how I'd make payments except to pay minimums until I figured things out.
And I hid all of this from my husband...opened a bank account, credit card and personal loan without his knowledge. I know now how stupid and deceitful that was but at the time it made sense ( we both work and have good incomes and little debts).
Then I head to New Orleans ( great time!) and hook, line and sinker...am now a big shot platinum owner! Was traveling with friend so felt pressure to sign (after 3 hours) to get back to vacation. But never looked at the contract for a few days...and before I left, explained that I made a mistake cause there is no way I could afford $2,000 monthly along w $500 maintenance fees. He was so reassuring and told me about using points to offset the maintenance fees and to just go home and refinance and all will be fine.
(I'm terrible with understanding money except how to work hard to make it). My bank tells me there is no room to increase my personal loan; my car could be used as collateral but that only gets me $22,000; I can't consider home equity as husband would never agree; looked into a loan against retirement (only another $50,000).
And then I cracked and confess to my husband regarding myfiscal infidelity. I still can't believe that I disrupted (destroyed?) the wonderful life we have had.
Between Pay Pal, Wyndham Rewards credit and personal loan...it's close to $200,000 which I owe.
Exploring chapter 13 bankruptcy restructuring and pray that husband is willing to stick by me but he is beyond stunned and sickened at my recklessness.
I can't disagree with others on this thread that I am responsible for my actions and will do whatever I can to make repayments. In the end, I hope that I also mend my marriage by surrendering my credit cards, closing out all accounts and sticking to an imposed budget.
That's my tale of a year with Wyndham--from euphoria to ruin.

 

[vacationhopeful]

Talk to a lawyer ... perhaps a bankrupcty lawyer for YOUR 200K DEBT ... the Wyndham loans and ownerships. Wyndham MAY just take it ALL BACK if that BQ lawyer offers it in writing on legal letterhead, 'in lieu of foreclouse'.

Then join a group for compulsive buyers. AND put a FREEZE on YOUR your credit for opening any new charge accounts or loan payments.

You are not the only person who buys (unneeded) stuff ... just your stuff is more expensive than shoes or purses.

 

[Braindead]

When did you buy at New Orleans? Are you still in the cancellation - rescission period?

 

[Braindead]

If not in rescission period. You need to talk to a bankruptcy lawyer as Linda pointed out.
But first you will need to make a list with your husband of debts and assets to take with you and your husband.
I know your in a awkward position but I think your husband is now in just as deep as you are [in most states anyway] and needs to be involved in every step with you.

Find a good bankruptcy lawyer! DO NOT PAY ANY MONEY TO A TIMESHARE EXIT TEAM you are only adding to financial loss.
Your bank might know a good bankruptcy attorney if they are not going to take a hit if you file bankruptcy

 

[Passepartout]

To find a bankruptcy attorney, go to the referral function of www.nacba.com (Nat'l Assn of Consumer Bankruptcy Attorneys). Know that not all BK attorneys are created equally. You NEED one who is versed in timeshare issues. This advice from my DW- a 30+ year experienced consumer bankruptcy attorney.

Good Luck. Get help. This is NOT something you can do on your own.

Jim

 

[OMG!]

When did you buy at New Orleans? Are you still in the cancellation - rescission period?

I'm not in rescission period .... but only 3 weeks ago

 

[OMG!]

If not in rescission period. You need to talk to a bankruptcy lawyer as Linda pointed out.
But first you will need to make a list with your husband of debts and assets to take with you and your husband.
I know your in a awkward position but I think your husband is now in just as deep as you are [in most states anyway] and needs to be involved in every step with you.

Find a good bankruptcy lawyer! DO NOT PAY ANY MONEY TO A TIMESHARE EXIT TEAM you are only adding to financial loss.
Your bank might know a good bankruptcy attorney if they are not going to take a hit if you file bankruptcy

I am working with a local (New York State) bankruptcy attorney...just at initial stage of gathering needed documents, etc. I meet again on Friday 1/5...
Thank you for your guidance...