Defaulting/deeding back: inform the company?

[dave1711]

I have owned a timeshare at Attitash Mountain Village in N.H for over 25 years. Same old story; rising maint fees; don't use, etc. No mort and contacted them about a deed back. They informed me that they do take a small number back but M.F must be paid for the year. My $900.00 fee is due Jan 2025 and I am considering defaulting. Should I make them aware of my intention to default in the hopes that they will take a deedback before I do? Or, .. should I say nothing and just stop paying? I am aware of possible negative aspects of default.

 

[WorldT]

My read on this is you fully understand your situation, options, and consequences of one choice vs the other. We can't tell you which one to choose.
There is another option, giving it away for free but since January is already here, that will likely involve paying the MF.

 

[callwill]

You could let them know that you are willing to sign the deed over ASAP in lieu of foreclosure and thus avoid the protracted period of time and legal hassles they would have. Perhaps they will chose that or they could chose the alternative more costly way to regain the deed. If its a ski week and ski season is here, perhaps they would like to hurry up a resell it!

 

[dave1711]

Thank you.

 

[vacation911]

I have owned a timeshare at Attitash Mountain Village in N.H for over 25 years. Same old story; rising maint fees; don't use, etc. No mort and contacted them about a deed back. They informed me that they do take a small number back but M.F must be paid for the year. My $900.00 fee is due Jan 2025 and I am considering defaulting. Should I make them aware of my intention to default in the hopes that they will take a deedback before I do? Or, .. should I say nothing and just stop paying? I am aware of possible negative aspects of default.

Before and after you default ask them to do a deed in lie of foreclosure. Let them know you are no longer able to pay it. It may take going into default for them to take you serious. Remember while a deed in Lieu is cheaper than a foreclosure, scaring you into paying is better for them. Once you pay it will be harder to get them to do the deed back, even a deed in lieu.