Thanks for the info. We have our credit frozen for past 20 years..we do not buy anything on credit nor do we need credit report to buy anything so who cares about a credit ding...especially older people who want to dump timeshares?I cannot give you any datapoints on your resort but here are some general thoughts:
Why do you want out? You must have had a reason to buy in the first place. Is this buyer's remorse or has your situation changed?
You have three choices with one last resort:
1) Learn to use and maximize what you own. You bought this for a reason...2) Give it away here on TUG or list with a resale broker. You will likely have to give away a free year of use and pay for buyer fees. But compare to listings here, on Redweek and Ebay in case it has some value.3) Contact the developer to return it. www.responsibleexit.com Before contacting the developer you need to arm yourself with the info in #4 to negotiate. Deed in lieu of foreclosure enables the developer to quickly retain the unit and resell/rent, whereas foreclosure has costs and delays. This step will avoid hassles and preserve your credit rating.
If you cannot give it away, and developer won't deed back for a reasonable fee (last resort):
4) Florida is a non-judicial, anti-deficiency state. If they foreclose and you do nothing to object to the foreclosure they will only be able to take back the timeshare and will ding your credit. They cannot legally go after your assets. Better to negotiate a deed in lieu of foreclosure (#3 above) if the fees are not excessive to avoid bill collector harassment and credit ding. Hire a Florida Real Estate lawyer for an hour (about $400 no retainer) before you pursue this step to discuss applying this to your situation because it is easy to screw yourself. State laws here:
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Links to Official State Timeshare Laws and Guides/Manuals
@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...tugbbs.com
Do not pay any exit companies up-front because they may do only the above. Why pay thousands for something that is not guaranteed when you can do yourself with certainty for < $1000
Did all that..they said No... so since it cant hurt me at age 70..VV @ Parkway and I will part company..All elderly who do not want to pay them anymore and do not care about credit agencies,like me..should think of Non payment..As for collections, no big deal...I don't answer my home phone anyway,if I do not know who it is...thanks, though, oh for everyone out there if the deed is in one name that at that person's death file a Disclaimer of Interest, and rid your heirs of it..If 2 names on deed prepare Quit Claim deeds giving each the sole possession, then depending on who passes first, use the Quit Claim to show sole ownership(you do not have to file the Quit Claim) just hold it to be produced when needed..then file Disclaimer of Interest, timeshare is gone!!!I agree with Cal Gal's point #3 although technically you would be contacting the resort's Homeowners' Association (HOA). If you do that, let the HOA know your situation and that you will not be paying another nickel in MFs so it would be in everybody's best interests for the HOA to take it back amicably. Keep in mind that if the HOA does agree, it will probably ask you to pay closing costs and possibly the next MF but at least it will be a clean transfer with no threats of collection calls or credit hits.
Just wondering if anyone has stopped paying the fees at Vacation Village at Parkway and what is their experience??? I am thinking of not paying anymore..please share your experience..tks
Did all that..they said No... so since it cant hurt me at age 70..VV @ Parkway and I will part company..All elderly who do not want to pay them anymore and do not care about credit agencies,like me..should think of Non payment..As for collections, no big deal...I don't answer my home phone anyway,if I do not know who it is...thanks, though, oh for everyone out there if the deed is in one name that at that person's death file a Disclaimer of Interest, and rid your heirs of it..If 2 names on deed prepare Quit Claim deeds giving each the sole possession, then depending on who passes first, use the Quit Claim to show sole ownership(you do not have to file the Quit Claim) just hold it to be produced when needed..then file Disclaimer of Interest, timeshare is gone!!!
List it on the marketplace or eBay and offer to pay closing and all fees. Does it come with points or weeks in RCI.Just wondering if anyone has stopped paying the fees at Vacation Village at Parkway and what is their experience??? I am thinking of not paying anymore..please share your experience..tks
List it on the marketplace or eBay and offer to pay closing and all fees. Does it come with points or weeks in RCI.
Thank you at 70 years old, could care less about credit hits or any collection agency..they can do nothing to me if I decide not to pay..the HOA can have it...but doubt it..Did all that..they said No... so since it cant hurt me at age 70..VV @ Parkway and I will part company..All elderly who do not want to pay them anymore and do not care about credit agencies,like me..should think of Non payment..As for collections, no big deal...I don't answer my home phone anyway,if I do not know who it is...thanks, though, oh for everyone out there if the deed is in one name that at that person's death file a Disclaimer of Interest, and rid your heirs of it..If 2 names on deed prepare Quit Claim deeds giving each the sole possession, then depending on who passes first, use the Quit Claim to show sole ownership(you do not have to file the Quit Claim) just hold it to be produced when needed..then file Disclaimer of Interest, timeshare is gone!!!
It is pts a triannual l 26000 something a year..havent used pts for exchange in 11 yearsList it on the marketplace or eBay and offer to pay closing and all fees. Does it come with points or weeks in RCI.
That’s not bad. What’s the maint fee? Put it on eBayIt is pts a triannual l 26000 something a year..havent used pts for exchange in 11 years
@gumbow719It is pts a triannual l 26000 something a year..havent used pts for exchange in 11 years
@gumbow719 Is there an update to your situation? I’ve tried giving away my VV and can’t get out of it. I’ve never used the timeshare, ever. I got my first collections call for maintenance fees. When I said I was fine with foreclosure, the man claimed they won’t foreclose because the association is a non-profit but when I pushed for details, he said he was just a third party and doesn’t represent the owners association. I am fairly certain a collector is likely to say what they need to in order to get people to pay, so I’m not trusting his info.
@Fredflintstone Have you seen others get out of VV? I’m disappointed that even during a pandemic, they expect owners to find a buyer.
Hi
Yes i have known folks get out of Vacation Village. Not legal advice and consult an attorney if you need any but Florida has anti deficiency, non judicial foreclosure laws (if you dont object) placing you in the drivers seat. Simply stop paying and be done if they arent cooperative. The maximum thing that might happen is your credit score drops for a bit.
VV is mired in complaints with the BBB.
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Vacation Village Resorts | Better Business Bureau® Profile
This organization is not BBB accredited. Vacation Rentals in Fort Lauderdale, FL. See BBB rating, reviews, complaints, & more.www.bbb.org
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Do nothing. Don't waste money on a lawyer. Don't answer their phone calls. Don't respond to their mail. Based on the above you will not be inconvenienced one bit...Thanks for the info. We have our credit frozen for past 20 years..we do not buy anything on credit nor do we need credit report to buy anything so who cares about a credit ding...especially older people who want to dump timeshares?
Thank you for this insight! I’ve reached out to a lawyer but have not heard back just yet.
Do nothing. Don't waste money on a lawyer. Don't answer their phone calls. Don't respond to their mail. Based on the above you will not be inconvenienced one bit...
George
I'm in a similar situation, but unfortunately got scammed by a timeshare exit team.
@gumbow719 how did this end up working out for you a year later with just not paying MF anymore?
No More Fees LLC - They've just stopped responding back to me.What's the name of this company that scammed you? How did the scam work? Are you still the owner on record of this TS?