How much do you owe? Is it MF only? If small $ or independent timeshare, I doubt they would come after you because the cost of legal alone would wipe out any deficiency they could extract.
What is the property or system for the TS? Why won't they accept a deedback?
I am finding lately the TS’s are pushing back from deed backs lately. My guess is they are getting bulletted with requests and need to dam the flood. Perhaps, finding new MF paying owners is getting more difficult?
I do know the TS’s in states with non judicial, anti deficiency laws are left with fewer options and thus are more willing to deed back because they’re left with few legal options.
Where you live matters too. If you live in the same state as the TS, they have more clout. If you are international, less likely anything happens except foreclosure and no reporting on credit file as credit files are domestic.
Actually, in my opinion, buying internationally in non judicial, anti deficiency areas is the way to go to mitigate the risks if you need to pull the plug. Check your legal rights BEFORE plunging is always best in my opinion.
Lastly, BUY RESALE and $ave big. Plus, you probably don’t need to borrow any money to buy either. That way, it’s not linked to your credit file. I don’t know anyone that has credit reporting if they own outright. Read the contract carefully and if they ask for permission to share with credit bureaus, I wouldn’t sign it. Why? You own it outright? I know they like a creditor/debtor relationship with MF if they had their way but not happening on my watch.
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