• A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!
  • TUG started 31 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 31st anniversary: Happy 31st Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Free memberships for every 50 subscribers!

    Visit TUG on Youtube!
  • TUG has now saved timeshare owners more than $24,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $24 Million dollars
  • Sign up to get the TUG Newsletter for free!

    Tens of thousands of subscribing owners! A weekly recap of the best Timeshare resort reviews and the most popular topics discussed by owners!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    All T-shirt options here!
  • A few of the most common links here on the forums for newbies and guests!
  • The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 30 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered 24 hours a day!

forclose and default a timeshare

I have a timeshare - Tahoe season. I owned it since or before 1990. I bought on eBay for my son to use when he was in college in SF area. He actually just use the owner's bonus nights for weekends.

He graduated and moved out. I never went to the timeshare. I have been advertised on Redweek.com for years trying to sell it for $1. I also tried on eBay to sell it at $1. No taker.

I called the resort and telling them that from the fee history that I download from the owner's site and found out I paid fees during the period since 1990 for about $19,400 and not being able to use it. The said they do not buy back timeshare. They advised me to advertise in some website, such as redweek.com. I told them that I tried already for 4 years and not able to sell it.

I asked them, if I stop paying the maintenance fee and taxes, what will happen. They said that they will turn over to collection and foreclose my timeshare.

Anyone know foreclose and default a timeshare? How much that will cost me?

$19,400 over 22 years? That's an average of $881/year for this resort. That sure seems like a very high average MF.

I think if I were in your shoes and I was paying that sort of fee every year, I'd just stop paying the fee's and let it foreclose. Yes it will ding your record but if you've really tried hard to get rid of this week for four years, that's more than enough time to give up and bite the bullet IMHO.
 
I know you posted this before my last reply but I'll repeat. The Association can (and should) offer the delinquent time for rent immediately when they can (usaully 30 days). That is what they will do if they own it (in addition to trying to find a new owner). They do NOT have to own it to rent it. And if they have handled things correctly when the collection effort ends they already have a new buyer - something they DON'T have if they simply take it back.

I'm afraid you are simply wrong on this. I know I was before I fully understood how the proper collections/foreclosure/deed in lieu / resale can be handled. Now I see it work and know that the so called obvious route of simply taking weeks back is NOT the proper way to go. Make the system work and everyone(except the debtor) eventually wins and costs are held as low as possible.

Sorry if you already got it from my previous post. Didn't mean to repeat.

Now that makes perfect sense to me...as soon as the owner defaults, rent the place. but that was never presented as an option in the previous posts.

I have been responding to the choices as presented...If the owner can pay and wont; follow one process ....but if they cant pay; follow another

My point has been that it doesnt make any difference if they can or they cant pay. The association needs a procedure in place to first get this thing back making money in either case, Renting does that and your third party acceptance company will get it in the hands of a new owner.

You have a procedure thats not dependent on answering the question; can't he? or won't he? And I think that thats a good thing
 
The bad part is...it's going to go on your credit rating as a default. But I suppose you could always say, "It was a timeshare..what do you expect?" Some people might understand.:D

If you're a lender and you are reviewing a loan application for someone who's defaulted on a TS, there are 2 glass-half-empty approaches and 1 glass-half-full approach that the lender might take.

The two glass-half-empty approaches are:

1) He didn't make agreed-upon payments for something he owes. How's he going to treat this loan if we give it to him.

2) He is a bad "investor". He invested [insert retail price of timeshare here] in something and let it go into default and foreclosure. What's he going to do with this money that we lend him?

OTOH, the glass-half-full approach by the lender could be:

He did what he had to do to divest himself of ownership of this albatross. Now he has [insert amount of annual MFs here] freed up each year to pay other things including this loan in question.

Based on this though, I personally would not take a chance that the lender would adopt the glass-half-full approach. I strongly believe the lender would take the half-empty approach.

That being said, I would not risk my credit reputation by defaulting on TS MFs.
 
Man y lenders or others offering credit won't know or won't care the reason why someone's credit scrore is in the dumps. They'll see the credit score that's below 'x' and simply say, "Sorry, not with that score."
 
I have a timeshare - Tahoe season. I owned it since or before 1990. I bought on eBay for my son to use when he was in college in SF area. He actually just use the owner's bonus nights for weekends.

He graduated and moved out. I never went to the timeshare. I have been advertised on Redweek.com for years trying to sell it for $1. I also tried on eBay to sell it at $1. No taker.

I called the resort and telling them that from the fee history that I download from the owner's site and found out I paid fees during the period since 1990 for about $19,400 and not being able to use it. The said they do not buy back timeshare. They advised me to advertise in some website, such as redweek.com. I told them that I tried already for 4 years and not able to sell it.
Maybe you posted this to try to highlight the plight of other owners, but it's time to call you out on this post.

You did not purchase this unit through eBay in 1990. eBay didn't exist until 1995, and timeshares didn't start showing up there for a few years.

I also doubt you paid $19,400 in fees. First, few places would make payment history available that far back online. Second, either you were paying $800 a year when you first purchased (that would be astronomical in 1990!), or to balance a lower fee then, you're paying an astronomical fee now. Either way, if you purchased to use visiting your son in 1990, I will assume he graduated by 1995, and you have kept this timeshare, not using it, for 17 years?

You've been a member of TUG at least since October 2010, and you list several ownerships in your profile. You're just now, asking a question like this? What is the real purpose of your post? I'm surprised Lisa was the only other person who noticed the inconsistencies.
 
Last edited:
Why bother?

I'm surprised Lisa was the only other person who noticed the inconsistencies.

Please don't confuse "failure to notice" with "disinterest in even bothering to respond"... ;)
 
Now that makes perfect sense to me...as soon as the owner defaults, rent the place. but that was never presented as an option in the previous posts.

I have been responding to the choices as presented...If the owner can pay and wont; follow one process ....but if they cant pay; follow another

My point has been that it doesnt make any difference if they can or they cant pay. The association needs a procedure in place to first get this thing back making money in either case, Renting does that and your third party acceptance company will get it in the hands of a new owner.

You have a procedure thats not dependent on answering the question; can't he? or won't he? And I think that thats a good thing

What you are suggesting is based on the unit having a rental value in the first place. One resort I am familiar with has a problem with the lowest of demand seasons coming back. I am sure this is not an uncommon problem. I recently looked into Edisto, non-wyndham managed portion. They have a three prong approach. Rent the high demand units that came back. Let Wyndham Sales sell the converted weeks one in conjunction with a new purchase from Wyndham, and sell to whoever asks for it. They have a disclaimer on the third prong that Wyndham is claiming an exclusive right to sell repossed units at the non-Wyndham managed units from days gone by and this issue is not resolved and is actively being disputed with Wyndham. Wyndham Sales proposed a new purchase from them and they would sell one of the non-Wyndham Managed units to me for $3,000. They cite Myrtle Beach as the model they are following for this proposal. However, it is not a real good comparision.
 
Last edited:
Please don't confuse "failure to notice" with "disinterest in even bothering to respond"... ;)

Thanks Theo, I am sure you are right on. Since I don't own a timeshare yet, and they certainly weren't anywhere near my radar in 1990, I felt I wasn't in a position to respond.

Since the topic has opened up further I thought I was put my two cents in.

Being a Tug Member since 2010 I would give the OP the benefit of doubt. However, from the looks of the resorts owned the OP appears to own every system there is, including elite status at three of them. That is A LOT of timeshares and A LOT of maintenance fees. Not sure why the OP is concerned about just one timeshare and considering letting it go into foreclosure at that.

Maybe the resorts listings in the profile are all the timeshares owned now and previously. If that is the case, you would think that there is a lot of experience in dealing with buying/selling. One thing I have learned is that while there may be no buyers at a $1, there may very well be if it is a $1 PLUS $1,000 cash to the new buyer. Certainly trying that would be better than dealing with a foreclosure.

It would be great if the OP filled us in with more details about the situation.

Added: There are no active "for sale" ads for Tahoe Seasons at the TUG Marketplace.
 
Last edited:
How does this all work with a Point Program. I have a timeshare with Festiva Adventure Club, home resort is Blue Ridge Village in Banner Elk, NC. I would like to get out of it one way or another. I currently have it on TUG, $10, (just to show a person is serious about buying it ... to get things started). Then I would pay the transfer.

If I were to stop paying the biennial maintenance fee, what would be the process that Festiva would most likely take?
 
Then with a proper contract once the collections process is deemed to have failed the third party group steps in. They may offer a deed in lieu or proceed to foreclosure. It is up to them what is best. If there is a deed in lieu then the case is closed & the third party now owns the property and pays the fees. If foreclosure is required that group - not the Association - pays those costs & ultimately still ends up with the ownership & pays the fees. Either way the Association (the owners) pay nothing.

I think I got lost here. Are you saying there are people or comanies out there that would agree to try to collect from dead beat TS owners and if they can't collect they would actually take on ownership of the TS in question?

I want to make sure I never invest in one of these companies if in fact they exist.
 
Last Resort

My late husband and I owned 3 timeshares, and we were desperately trying to sell them. Finally, after he passed away, I wrote directly to the resort owners and told them my situation (husband deceased, and I'm living on just social security and unable to travel myself). Two of the 3 took the timeshares back on a warrant (?) deed with no penalty to me. The 3rd one is still up for sale with the resort's own realty company, and if it does not sell by the end of August, I will try this same approach. This does not work for everyone, but in my case, I was lucky.
 
Last edited:
I've said it before and I will repeat it now. The key is to be persistant. You don't have to do something every day to get rid of your Week(s) but you need to think about it every day. It took me about 3 years to divest 6 Weeks at 6 different Resorts (in the interim I used them, rented them, and/or let friends and relatives use them). There was not just one solution (way out). A solution that is not viable today may become viable in 3 weeks. You never know. Keep working the problem. Don't put your head in the sand and hope the problem will go away. It won't.

George
 
I think I got lost here. Are you saying there are people or comanies out there that would agree to try to collect from dead beat TS owners and if they can't collect they would actually take on ownership of the TS in question?

I want to make sure I never invest in one of these companies if in fact they exist.

I'm saying that if an owner goes through the collection process, which may involve one or more collection agencies without successfully obtaining payment, then the Association - not the collection agencies, they work on commission only - may decide that a Deed In Lieu is a better choice than foreclosure. They may not. It is an individual case decision but may be worth the chance vs paying thousands to some fly by night group with zero guarantee they will do as they say. Stay away from those groups.
 
How does this all work with a Point Program. I have a timeshare with Festiva Adventure Club, home resort is Blue Ridge Village in Banner Elk, NC. I would like to get out of it one way or another. I currently have it on TUG, $10, (just to show a person is serious about buying it ... to get things started). Then I would pay the transfer.

If I were to stop paying the biennial maintenance fee, what would be the process that Festiva would most likely take?

It may be that your unit week has negative value and you need to sweeten the pot for a buyer, such as paying next year's MFs or just giving some cash outright. I bought a couple on ebay this year where the seller kicked in thousands of earnest money. Do not list something for $10 to attract serious buyers. If your TS is not worth $10, you will repel all the serious buyers.

I cannot answer the second part of your question.
 
Oops, I did not reserve for 2013. The resort requires you prepay the MF of 2013 in order to make reservation. I always trying to reserve a February week in the past and advertised for rent. If this will ruin my credit rating, so be it. I have excellent credit score so far. This may stop some annoying mails from banks to offer me new credit card. I have to shred those letters almost daily.
And I checked my record; I did not buy it from 1990. I went to owner’s site download the payment history, it was from 1990. That makes me feel much better. I guess they posted the payment from previous owner. I bought it from 2004 when my son went to college. Sorry that I just thought the resort website would only provide me my history of payment record. The previous owner paid $10,924 and I only paid from 2004 for $8,446. Total $19,370. I should realize my son was in college in the 2004. I did not think while I saw the downloaded figure was outrageously high. I have been deposited it in RCI and let friends to use the exchanges. Well, after download the inform, I could not believe my eyes and became excited. Sorry that I did not notice the 14 years gap. Time flies. look back 10 years and 20 years almost the same. It was a long time.

Thanks for all the responses. I will update my sell to include paying for next year's MF. I will also write to the resort to see if they will take it back if I am willing to pay next year's MF. I will let you know if my offer was taken by someone.



The download is from VRI OWNER'S website. You have to sign in. I changed my 2012 reservation to August when February was not rented. They charge a minimal fee for doing the change at least 14 days in advance. That is the plus side. I already deposited this reservation to RCI.

Resort Res # Use Year Arrival Nights Room Type
Tahoe Seasons Resort 47850 2012 8/12/2012 7 Chalet Suite
If you would like to change or cancel your reservation, please call 800-874-9900.


Description Date Amount
MV XXXXXXXXXXXX 12/31/2011 -817
2012 Replacement Fund 12/1/2011 -104
2012 Replacement Fund 12/1/2011 104
2012 Replacement Fund 12/1/2011 106
2012 Assessments 12/1/2011 686
EAF Exchange Fee 2011 9/2/2011 25
AX XXXXXXXXXXX 1/6/2011 -784
2011 Replacement Fund 12/1/2010 110
2011 Assessments 12/1/2010 674
Travel Protection Option 3/29/2010 -47
MV XXXXXXXXXXXX 3/29/2010 -866.33
2010 Reinstatement Fee 1/5/2010 50
2010 Maintenance Fee Blk 1/5/2010 25
2010 Interest 1/5/2010 11.33
Travel Protection Option 12/1/2009 47
Description Date
2010 Replacement Fund 12/1/2009 110
2010 Assessments 12/1/2009 645
EAF Exchange Fee 2009 7/20/2009 25
Travel Protection Option 12/31/2008 -47
MV XXXXXXXXXXXX 12/31/2008 -729
Travel Protection Option 12/1/2008 47
2009 Replacement Fund 12/1/2008 111
2009 Assessments 12/1/2008 618
MV XXXXXXXXXXXX 1/2/2008 -688
Travel Protection Option 12/31/2007 -47
Travel Protection Option 12/1/2007 47
2008 Replacement Fund 12/1/2007 80
2008 Assessments 12/1/2007 608
AX XXXXXXXXXXX 6/5/2007 -66
2007 Revised Reserves 7/1/2007 66
Description Date
2010 Replacement Fund 12/1/2009 110
2010 Assessments 12/1/2009 645
EAF Exchange Fee 2009 7/20/2009 25
Travel Protection Option 12/31/2008 -47
MV XXXXXXXXXXXX 12/31/2008 -729
Travel Protection Option 12/1/2008 47
2009 Replacement Fund 12/1/2008 111
2009 Assessments 12/1/2008 618
MV XXXXXXXXXXXX 1/2/2008 -688
Travel Protection Option 12/31/2007 -47
Travel Protection Option 12/1/2007 47
2008 Replacement Fund 12/1/2007 80
2008 Assessments 12/1/2007 608
AX XXXXXXXXXXX 6/5/2007 -66
2007 Revised Reserves 7/1/2007 66
Description Date
2007 Reinstatement Fee 2/9/2007 -50
AX XXXXXXXXXXX 2/5/2007 -625.48
2007 Reinstatement Fee 1/17/2007 50
2007 Maintenance Fee Blk 1/17/2007 25
2007 Interest 1/17/2007 5.48
Travel Protection Option 12/1/2006 47
2007 Replacement Fund 12/1/2006 36
2007 Assessments 12/1/2006 512
EAF Exchange Fee 2006 8/16/2006 -25
EAF Exchange Fee 2006 8/16/2006 25
Exchange Processing Fee 6/1/2006 50
Exchange Processing Fee 6/1/2006 -50
MV XXXXXXXXXXXX 10/14/2005 -585
Travel Protection Option 12/1/2005 37
2006 Replacement Fund 12/1/2005 67
Description Date
2006 Assessments 12/1/2005 481
2005 RAF Exchange 6/30/2005 -25
2005 RAF Exchange 6/24/2005 25
MV XXXXXXXXXXXX 11/12/2004 -533
2005 Replacement Fund 1/1/2005 54
2005 Assessments 1/1/2005 479
Payment 12/2/2003 -520
2004 Restaurant 1/1/2004 35
2004 Replacement Fund 1/1/2004 90
2004 Assessments 1/1/2004 395
Payment 11/5/2002 -490
2003 Restaurant 12/1/2002 27
2003 Replacement Fund 12/1/2002 90
2003 Assessments 12/1/2002 373
Payment 11/1/2001 -475
Description Date
2002 Restaurant 12/1/2001 23
2012 Replacement Fund 12/1/2001 21
2012 Assessments 12/1/2001 431
Payment 10/30/2000 -424
2011 Replacement Fund 12/16/2000 90
2011 Assessments 12/16/2000 334
Payment 11/23/1999 -414
2010 Replacement Fund 12/16/1999 90
2010 Assessments 12/16/1999 324
Payment 12/1/1998 -404
2009 Replacement Fund 12/1/1998 88
2009 Assessments 12/1/1998 316
Payment 12/1/1997 -407
ARDA 12/1/1997 3
2008 Replacement Fund 12/1/1997 88
Description Date
2008 Assessments 12/1/1997 316
Payment 11/21/1996 -404
2007 Replacement Fund 12/1/1996 88
2007 Assessments 12/1/1996 316
Undefined Charge Code 12/5/1995 3
Payment 12/5/1995 -407
2006 Replacement Fund 11/1/1995 88
2006 Assessments 11/1/1995 316
Payment 11/28/1994 -407
Undefined Charge Code 11/4/1994 3
2005 Replacement Fund 11/4/1994 88
2005 Assessments 11/4/1994 316
Payment 11/23/1993 -403.72
2004 Replacement Fund 11/5/1993 87.5
2004 Assessments 11/5/1993 316.22
Description Date Amount
Payment 11/19/1992 -403.72
2011 Replacement Fund 11/5/1992 12.87
2011 Assessments 11/5/1992 390.85
2012 Assessments 5/21/1992 201.86
2011 Prepaid Assessments 12/2/1991 -403.72
2011 Assessments 11/6/1991 201.86
Payment 12/4/1990 -403.72
Undefined Charge Code 11/7/1990 13.73
Undefined Charge Code 11/7/1990 16.66
Adjust Escape Time 11/6/1990 373.33
Description Date
2002 Restaurant 12/1/2001 23
2012 Replacement Fund 12/1/2001 21
2012 Assessments 12/1/2001 431
Payment 10/30/2000 -424
2011 Replacement Fund 12/16/2000 90
2011 Assessments 12/16/2000 334
Payment 11/23/1999 -414
2010 Replacement Fund 12/16/1999 90
2010 Assessments 12/16/1999 324
Payment 12/1/1998 -404
2009 Replacement Fund 12/1/1998 88
2009 Assessments 12/1/1998 316
Payment 12/1/1997 -407
ARDA 12/1/1997 3
2008 Replacement Fund 12/1/1997 88
Description Date
2008 Assessments 12/1/1997 316
Payment 11/21/1996 -404
2007 Replacement Fund 12/1/1996 88
2007 Assessments 12/1/1996 316
Undefined Charge Code 12/5/1995 3
Payment 12/5/1995 -407
2006 Replacement Fund 11/1/1995 88
2006 Assessments 11/1/1995 316
Payment 11/28/1994 -407
Undefined Charge Code 11/4/1994 3
2005 Replacement Fund 11/4/1994 88
2005 Assessments 11/4/1994 316
Payment 11/23/1993 -403.72
2004 Replacement Fund 11/5/1993 87.5
2004 Assessments 11/5/1993 316.22
Description Date
Payment 11/19/1992 -403.72
2011 Replacement Fund 11/5/1992 12.87
2011 Assessments 11/5/1992 390.85
2012 Assessments 5/21/1992 201.86
2011 Prepaid Assessments 12/2/1991 -403.72
2011 Assessments 11/6/1991 201.86
Payment 12/4/1990 -403.72
Undefined Charge Code 11/7/1990 13.73
Undefined Charge Code 11/7/1990 16.66
Adjust Escape Time 11/6/1990 373.33
Previous Next
total sum 19369.57
1990-2004 10923.76
2004-2012 8445.81
 
Last edited:
Yes, it is Tahoe Season. We went to Lake Tahoe president's week staying in Diamond's Tahoe Vacation Club and Ridge Tahoe, cascade building.
We love Ridge Tahoe. We own every other even year. I was thinking to sell it before we visited it. We will keep it for future visit.
We bought our first timeshare in Northern NY, Nottingham Village, from developer for even years. We exchanged for St. Maarten timeshare in early 2000’s. It was great. (I did not receive invoice for MF this year and later found out it was burned down shortly after our last visit in 2010. The resort lost the entire owner’s record.) After the Nottingham Village, I saw eBay's timeshare was a friction of what I paid for Nottingham Village, so I bought more thinking that was investments for retirement traveling. I was addicted at one time buying timeshares. We love travel but with only 5 weeks’ vacation while we had over 30 week’s timeshare. I eventually gave away a few to friends and stranger. I returned three back to Perennial VC after I saw suggestion from TUG to ask the membership type TS to give them back to the resort (It cost only $50 fees.)
I found TUG in 2010. At the time that I feel that I had too many timeshare and trying to get rid of some. I visited TUG only when I need advice. I enjoyed reading the bbs. There are many nice people giving professional advice in TUG, such as theo, DeniseM, Rent_share, Telent312 and many other. I feel that I was not knowledgeable enough to post anything, so I do not normally give my opinion.
I rented some of the unused week out. The HGVC weeks are easier to rent. Diamond is next. We do enjoy our timeshare. As many tug members said that once you stay in a timeshare, you kind of stay away from hotels. We traveled to Hong Kong and stay in Hilton Conrad by using Hilton honor points. We do like the perks and services from Hilton brand as an elite plus member. I think all the tug members saying buying only the one that you are going to use is the best advice. We use all our Wyndham and BlueGreen points to Atlantic City for our every other weekend trip in the summer months. We like Jersey shores and casinos. We own Killington Grand Resort (1/4 ownership with 13 weeks a year) and we go to Vermont in the winter weekend. (Killington Grand is great, if we do not use it, they rent out for us for the price we can never get. After the 50% commission, it can still cover our MF.) We visit Maui Diamond’s Kaanapali Beach and Caribbean every other year. I have no regret buying the timeshares, but just want to get rid of some that we do not use to cut down the MF. We never tried Diamond and II timeshares in Europe and Asia yet, we will eventually. When time comes, I will check TUG out to see what vacation we should plan. I saw many complain about Diamond. Our only complain about the high MF for my Hawaii collection after we acquired most of our points (37,000) from Kaanapali Beach in early 2011 to get to Platinum from gold elite. (The perk for platinum is good. It is worth it.) The services and resort are great. I will keep them.

I put my in:
http://www.tugbbs.com/forums/showthread.php?t=138004

Actually, I do not know how to find it. I cannot save the webpage in the favorite. I got help from one of the TUG member private message. I am not familiar with TUG layout. I do not know how to find my own posting.

I visited TUG once every few months or as I mention that I visit only when I need advice. I will take Theo's advice to write letter to the Tahoe Season resort to see if they are willing to take it back. My son used to like Tahoe Season a lot due to the location when he was in college. The resort staffs were very nice and made him felt like going home. He used the bonus night and visit a few weekends in the winter.
 
Last edited:
And I checked my record; I did not buy it from 1990. I went to owner’s site download the payment history, it was from 1990. That makes me feel much better. I guess they posted the payment from previous owner. I bought it from 2004 when my son went to college.

You do realize that this is a difference of 14 years?
 
How I Passed On My Timeshares

We've had timeshares for 20+ years and used them every year. 3 of the 4 were purchased on the secondary market. We ended up buying 2 condos on Ft. Myers Beach about 10 years ago and started renting the timeshares. This was successful about half the time and got worse as time went on. Not being able to rent them or sell them I decided to put an ad in the beach paper to give them away. I had several interesting calls and one of them called her friends in WI about them. I ended up finding homes for all 3 of them through her relatives and one of them even took care of the Quit Claim Deeds! I couldn't be happier!
I did keep 1 of the timeshares since it rents at a profit each year.
 
Top