[ 2019 ] anyone has stopped paying maintenance fees, what happened ?

[echoloader]

Those units enrolled in RCI Points have some value. They provide lots of points at a comparatively low annual MF. List them either on the TUG Marketplace or Bargain Deals. I do think however, that they need to be paid off and current (MF) in order to transfer title.

Yes they are.

 

[Passepartout]

Yes they are.

There's your answer. Find out what it would cost to bring them current, and how much Grandview charges to transfer title. Then make a nice ad in TUG Bargain Deals sub -forum. Include some pictures if you have them. Stress the RCI Points. Mention some of the exchanges you've made with them. There is interest in these weeks. When you have a buyer, there are low cost title transfer people on TUG to handle the transfer.

It will make both you and new owners very happy.

Jim

 

[echoloader]

Thanks

 

[echoloader]

From the Sticky at the top of this forum:

Nevada – NV, defaulting TS owners have no right to non-judicial, anti-deficiency foreclosures, https://www.leg.state.nv.us/NRS/NRS-119A.html

Some Grandview units have value. What do you own? You might be able to sell or give it away in the bargain section of this forum.

Sorry but what does all this mean for the regular person in term of not paying the MF. Can they come after if someone is in Canada?

 

[CalGalTraveler]

Sorry but what does all this mean for the regular person in term of not paying the MF. Can they come after if someone is in Canada?

Yes in the USA. Not sure whether legal in Canada.

Bear in mind it would cost them more to pay lawyers to pursue than the measly MF of < $1000 that they could recover. Pursuing internationally would cost significantly more, and it is doubtful they could garnish international assets without significant legal research and cost.

Best to sell or give away if you can.

 

[echoloader]

Thanks

 

[Passepartout]

Sorry but what does all this mean for the regular person in term of not paying the MF. Can they come after if someone is in Canada?

I know you are looking at the easy answer here, but before you simply default and hope for no retaliation, why not go to eBay and check how much similar weeks to what you own (those in Points) actually sell for. Look at 'completed auctions'. You might be pleasantly surprised that (a) you can relieve yourself of the ongoing MFs, (b) can move ahead without considering credit consequences, and (c) make enough $$ to me worth the time you put into it.

By the way, it's very unlikely that a Canadian credit reporting agency would give much weight to a default on a U.S. timeshare MF default.

Jim

 

[echoloader]

Thanks

 

[Prisi Prisi]

I have 2 bedroom week 38 (122000pts)and one bedroom week12. (49000pts)Fully paid. 6 extra weeks and 2 last call.

I PM you. I gave you my email address. I can take one off your hand. Kindly email me and let’s start the ball rolling.

 

[guy33]

I inherited a Timeshare from my parents 25 years ago, when the MFs were only $189 annually. The current fee is $920 per year. I purchased a second biennial unit with fees of $220 per year; however, that one is now nearly $500 per year. Since the two resorts are within the same family of resorts, the two HOAs work together. I cannot use or bank either interval until I pay both in full each year. I finally put my foot down and stopped paying both. This is an unfair business practice. The resort finally took back both properties. I paid off the mortgage on both properties two decades ago. I have used neither for nearly ten years. Please don't give in to the mobster-like business practices of these developers and resorts. I will not list all the lies they told me when I first got involved with this industry. Do yourself a favor and do your homework before investing in a resort. If you're not independently wealthy, rent from an existing owner and save yourself the headache.

 

[Goods3481]

My mom had a fixed week someone gave her in the late 90's that we used while I was a kid. Went to some nice places through Interval International. About six years ago, my mom wanted to get rid of it since we don't use it anymore. She quit paying the maintenance fees in 2014. Over the following five years, she received many bills and notices about past due maintenance fees. Nothing ever showed up on her credit report. In early 2019, she finally got an offer from the resort to forgive all past due fees if she would notarize and deed the timeshare back to them. She did just that and is now free of her timeshare, and it never hit her credit. This was an older property that is now managed/owned by Exploria Resorts if this helps anyone reading this.

Is this Summerbay by chance?

 

[haasle]

It’s 13 months since my last post. Nothing has really changed. My credit score hasn’t changed but I’ve received quite a bit of correspondence (that I ignored).

 

[theo]

It’s 13 months since my last post. Nothing has really changed. My credit score hasn’t changed but I’ve received quite a bit of correspondence (that I ignored).

When did you last receive any "correspondence"? If it was longer than 6-8 months ago now, perhaps they have just given up and gone ahead with foreclosure?

If so, with a timeshare that has been fully paid off for many years and with many years of reliably paid maintenance fees, I would frankly be surprised if you ever saw a credit score hit. They have certainly extracted plenty of money from you over the years and you have (according to your older posts) already clearly expressed to DRI your knowledge and awareness of anti-deficiency law in FL. DRI has no further leverage and they know it; I can't imagine them wanting to exert much more, if any, pointless further efforts.

You're obviously doing a great job of just ignoring DRI. Keep up the good work!

 

[haasle]

When did you last receive any "correspondence"? If it was longer than 6-8 months ago now, perhaps they have just given up and gone ahead with foreclosure?

If so, with a timeshare that has been fully paid off for many years and with many years of reliably paid maintenance fees, I would frankly be surprised if you ever saw a credit score hit. They have certainly extracted plenty of money from you over the years and you have (according to your older posts) already clearly expressed to DRI your knowledge and awareness of anti-deficiency law in FL. DRI has no further leverage and they know it; I can't imagine them wanting to exert much more, if any, pointless further efforts.

You're obviously doing a great job of just ignoring DRI. Keep up the good work!

I received two letters within the last several weeks. Before that it was 5 or 6 months.

 

[theo]

I received two letters within the last several weeks. Before that it was 5 or 6 months.

Perhaps the recent correspondence was robo-generated, relating specifically to CY 2022 maintenance fees and / or a "late payment" charge for same?

No matter. As long as you don't provide any indication or suggestion of objecting to non-judicial foreclosure proceedings, they will surely proceed with that at some point. Beyond that, there is really nothing further they can do beyond toothless collection efforts. Hang in there and just continue to let them hear nothing but "crickets".

 

[emoneybug]

I'm thinking of joining this study:
Bought resale Bay Club 2 bed 7K points from ebay for like $35 for a even+odd in mid 2019 I think. Maint Fee were high but I have been happy with HGVC as I've stayed in some of their vegas properties and used the points to trade in RCI. Earlier this year, 2022, I bought a 2 bed 7000points annual usage Coylumbridge resale in Scotland from HGVC resale arm there solely for the HGVC points and I used those points to trade in RCI, very happy owner. So happy in fact that I've traded all my Bay Club and Coylumbridge in RCI with only less than 2500 HGVC (new scale) points remaining in 2024, and today I got the news that Coy is being dropped by HGVC, so my 1st reaction is I will offer to give them back both resorts and when they say No, I will disappear, no 2023 club dues, no 2023 maint fee, etc etc etc. If HGVC can decide on the fly to drop an affiliate property, well I'm dropping them from the payroll.

 

[haasle]

It’s now over three years since I originally contacted Diamond to do a buyback. The phone calls and emails have ceased. They have sent a Notice of Intent to File a Lien. I still think it would have been better for both parties if they would have just accepted the $1000 buyback fee and resold the week.

 

[Duh]

It’s now over three years since I originally contacted Diamond to do a buyback. The phone calls and emails have ceased. They have sent a Notice of Intent to File a Lien. I still think it would have been better for both parties if they would have just accepted the $1000 buyback fee and resold the week.

File a lean on what? Your house? For just maint fees??

 

[haasle]

On the timeshare deed

 

[Passepartout]

I still think it would have been better for both parties if they would have just accepted the $1000 buyback fee and resold the week.

You're preaching to the choir here. We ALL think TSs honestly NEED a viable exit plan in order to make TS something attractive to a great many other people. They (and ARPA) seem to feel that a sale of an interval should be a 'one and done' deal. The dummies just can't wrap their collective heads around being able to peddle resales to subsequent generations much the way car dealers refurb and sell used cars. And for that matter the way Apple sells used iPhones.

 

[goaliedave]

Yes, and nothing other than phone calls and letters which i ignored.

 

[Duh]

On the timeshare deed

HAHAHA.....go ahead and let them. You're not paying the maint fees anyway.

 

[haasle]

What normally happens is you stop payment and they initially whine, threaten, etc. Then, once they know you won’t budge, they usually offer a deed in lieu. This is usually between 6 to 12 months after receiving no payment.

They know they are hooped...but hey, it’s doesn’t hurt to whine, threaten, etc. To see if they can shake you out before negotiating.


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I recently received paperwork for a deed in lieu of foreclosure. I had my attorney check, sign, and mail it to Las Vegas. My credit score hasn’t changed.

 

[Mtwnfnst]

i am trying to get an answer from someone who has actually stopped paying maintenance fees , so unless you are the one , please keep speculation to yourself .secondly i am referring specifically about HOA fees , NOT mortgage payments that i completely understand the consequences . help will be appreciate it
thanks

Had 2 timeshares stopped paying on both in 2016. One didn’t show on credit report and wasn’t a deed timeshare the other was and still shows unpaid on credit report. Bought in Virginia I currently reside in Maryland and coming up on 7 years to see if it will stop reporting. I bought deeded timeshare timeshare in 2015 was sold to Diamond rewards maybe a couple years ago. Don’t remember if I received a foreclosure letter but now only receive a few attempted calls a year which I ignore and still receive maintenance fee bills which keeps increases. Probably should’ve sorted this thing out years ago but at almost 7 exact years this summer gonna just let it play out. Still shows 120 days late on credit every month which is a bummer but is the only late on the credit report which wore off the impact over time. Hope this details helps and will keep you all updated if anything changes.

 

[LannyPC]

Hope this details helps and will keep you all updated if anything changes.

Thanks. Updates like these are always appreciated.