Advice on Getting out of Timeshare

[mfrommm]

My husband and I bought a timeshare through Exploria in the poconos (PA) a few years back and we just physically can’t afford it anymore as he’s out of work and can’t afford to even take vacation time to use it. We had to stop paying the expo points at one point because we just can’t afford it.

When I spoke to Exploria they first of all didn’t want to help and told us we were on our own and then pointed us in the direction of a website to list the timeshare for sale and naively because we don’t know much about it, paid that website $700 to post our timeshare for sale over a year ago and have gotten no communication from them since and they told us no one is even clicking on our listing.

I guess my question is how do I go about selling this or getting rid of it so I am not continuing to owe it and pay for it when I financially just can’t? Is it even possible? We do owe on the expo points it has a balance as I said we can’t afford it so I will post all of that information below.

Information on our timeshare:

Pocono Mountain Villas by Exploria Resorts
Expo point balance: 3,210.12
Mortgage monthly payment: $164.85
Total owed on mortgage: 8,939.62

Please any advice is welcomed. We are willing to sell for $1 at this point even. Thank you in advance!

 

[Luanne]

If you still owe on the timeshare you won't be able to sell it. You probably can't give it away either.

You can just stop paying, which would be a ding on your credit. I'm sorry you got directed into listing the timeshare for sale and having to pay to do so. The word of advice here is "No money up front".

 

[callwill]

Default may be your best option. It is not likely you would find a buyer that would assume that mortgage. If you visit the "marketplace" by clicking on the dropdowns above and the click on the for sale and search for Pocono Mt Villas you will see a number of them listed from free to $395.

 

[Fido Chuckwagon]

Total owed on mortgage: 8,939.62

Please any advice is welcomed. We are willing to sell for $1 at this point even. Thank you in advance!

Your timeshare isn’t worth $1. It’s worth -$8,939.62. Your only option is to default. Also don’t falll for any timeshare exit companies promising to get you out. They are all scams.

 

[DeniseM]

If you default (stop making the payments) the resort will take it back. It may take a year or so, and you will get some letters, but if you ignore them and stick to your guns, they will take it back and you will be done with it.

 

[TUGBrian]

I made this video for your EXACT story....I am very sorry you have been taken advantage of and given such awful advice sofar

 

[davidvel]

My husband and I bought a timeshare through Exploria in the poconos (PA) a few years back and we just physically can’t afford it anymore as he’s out of work and can’t afford to even take vacation time to use it. We had to stop paying the expo points at one point because we just can’t afford it.

When I spoke to Exploria they first of all didn’t want to help and told us we were on our own and then pointed us in the direction of a website to list the timeshare for sale and naively because we don’t know much about it, paid that website $700 to post our timeshare for sale over a year ago and have gotten no communication from them since and they told us no one is even clicking on our listing.

I guess my question is how do I go about selling this or getting rid of it so I am not continuing to owe it and pay for it when I financially just can’t? Is it even possible? We do owe on the expo points it has a balance as I said we can’t afford it so I will post all of that information below.

Information on our timeshare:

Pocono Mountain Villas by Exploria Resorts
Expo point balance: 3,210.12
Mortgage monthly payment: $164.85
Total owed on mortgage: 8,939.62

Please any advice is welcomed. We are willing to sell for $1 at this point even. Thank you in advance!

As noted above, you cannot sell it,you cannot give it away, and the resort will not take it back.

Since you state that you "can’t afford it anymore as he’s out of work" and "financially just can’t" pay it, there is really no question to ask or answer. Since you cannot pay it you won't, and eventually it will be foreclosed upon. Any other actions you take will just lead to a worse outcome.

 

[mfrommm]

Thank you all for your help. We’ve decided to default after some thought to it and someone else sharing experience that they defaulted waited until it went into collections and paid off the collections instead which resulted in their credit still taking a hit but significantly less than it would’ve had they ignored the collections too. My problem is with Exploria is I’m not sure if they will allow me to pay off the collections or not as they are very shrewd. I guess my question is can we be sued if we stop making payments altogether and default and does anyone have any advice on if we default on the actual mortgage, if that will stop the maintenance fees also so we can stop being charged for them, and pay that balance off of the collections too? Thank you all for your help and advice it truly does help us and helped us make this decision.

 

[TUGBrian]

the problem with paying off the collections, is that you still own the timeshare and next years dues would simply come due to you!

you should only pay if it results in the surrender of your ownership back to exploria.

 

[dioxide45]

Why pay off the collection effort? Would you be looking to pay a reduced settlement? If you're going to default, why not just default and let them later foreclose?

 

[Blckrose2020]

I am going through the same problem and I’m scared to default but I think it is the only option. My credit sucks anyway but I have been trying to fix it but now I might not be able to…

 

[LannyPC]

I am going through the same problem and I’m scared to default but I think it is the only option. My credit sucks anyway but I have been trying to fix it but now I might not be able to…

How much do you owe on the loan? Are you behind on MFs?

 

[Blckrose2020]

How much do you owe on the loan? Are you behind on MFs?

They actually gave us a cheap timeshare compared to what I seen on here. I owe 6.5 left and I’m not behind on my MF yet.