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Anyone just stop paying?

radarmel

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Palm Beach Shores resort
I no longer have a mortgage and only pay maintenance fees. I don’t want this timeshare anymore and tried to sell and give away. So now I’m wondering of the actual hit if I just stop paying fees. Anyone ever do this?


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goaliedave

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Yes. Many. Nothing happens, they just phone for a couple of years and you block or don't answer.
 

dioxide45

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Sheraton Vistana Villages
Club Wyndham CWA
Before you do that, have you talked to them about Certified Exit?

I don't think it is actually a Club Wyndham property?
 

Passepartout

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I no longer have a mortgage and only pay maintenance fees. I don’t want this timeshare anymore and tried to sell and give away. So now I’m wondering of the actual hit if I just stop paying fees. Anyone ever do this?
I had one in a similar situation, though not Wyndham. I got late fees added to the MF bills for a couple of years, and had offered to deed it back. Eventually I got a letter saying that if I didn't bring it current, they'd block my usage and foreclose. I never heard any more about it and there was no report to any credit agency. ymmv.
 

55plus

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If it's one of the original old Fairfield turned Wyndham resort Wyndham probably won't take it back. If that the case, WALK AWAY.
 

troy12n

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I'm not sure just walking away is the best advice.

You are legally obligated to pay MF. So, worst possible scenario, they could:

1. Sue you for MF, and get a judgment against you for it
2. Sell the bad debt to collections. Collection agents can harass you, and also, get judgments against you
3. Regardless of whether or not they do any of the above, there's an excellent chance they can put negative accounts on your credit report at the very least. This would stay on your credit rating for at least 7 years.

You may not care about any of any of the above, especially if you are elderly and don't have any need for "credit" anymore and don't plan on making any purchases where a bad credit rating would matter. Just keep in mind, especially if you own a lot of assets, or multiple homes (only your primary residence is protected from creditors), you may be a target for collections...

I'm not saying any of this will happen, but it could. So in that regards, just telling people to damn the consequences and walk away is really bad advice...
 

schoolmarm

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Wyndham CWA, Bali Hai, and National Harbor; Summit at Massanutten
I don't think it is actually a Club Wyndham property?
Palm Beach Shores is a Vacation Villages resort on Singer Island off of West Palm Beach. It trades through RCI and could work as a PIC in Wyndham. It is an "Old Florida" style resort that has a short walk 5-minute walk to the beach. There is good Scuba at the Blue Heron Bridge which is the bridge that connects Singer Island to the mainland. Also at Jupiter Beach which is a short drive.
So Certified Exit (a Wyndham program to give back deeds) would not work.

I own at Massanutten (related to VV, but technically is "Great Eastern") and I think that they take deeds back. I bought mine for $1.25 and use it to PIC into Wyndham....and that is how I ended up staying a week at Palm Beach Shores--I had used my other RCI account to deposit my Massanutten as TPUs before I had my PIC set up. One advantage of a Vacation Villages property is that the exchange fee when trading in RCI to another VV property is about $100 less than the regular RCI fee.
So there might be some advantages for a Wyndham owner to pick this resort up as a PIC. The MFs are higher than my 4-BR Summit at Massanutten, though. But you can't walk to the beach at "the Nut". :)
 

ScoopKona

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I'm not saying any of this will happen, but it could. So in that regards, just telling people to damn the consequences and walk away is really bad advice...

I'm a landlord. I've been a landlord for decades. The one thing I've learned from being a landlord for decades is to never sue poor people. There's no point. Walk away from "unproductive revenue" and don't spend any more money chasing after it.

They'll sell it to a collections company, if anything, and that will be that.
 
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