I was out of work for a year with Long-Haul COVID. I was unable to keep up the payments on my 2 HGVC properties. I received notices on both timeshares about non-judicial foreclosures. Will Hilton ALLOW me to save one property from foreclosure and let the other one foreclose? I would like to save the oldest property that I own since I paid alot on that one off already. I still owe alot on the other property
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HGVC non-judicial foreclosure
- Thread starter UPALLNITE
- Start date
- Joined
- Dec 21, 2014
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Sorry to hear of your illness.
We are not lawyers. What state are your timeshares in? If you object to foreclosure in Florida or other states, they can come after you for deficiency judgment on your house or wages which may include inflated legal fees on both. This is like being half- pregnant. All or nothing on both.
tugbbs.com
Do you care about your credit rating or is it already gone?
Read the state sticky. If it were me I would consider letting both go if they are located in a non-deficiecy state like FL. You can rent for MF from owners. Or buy resale for less than what it will cost you to get out of this.
We are not lawyers. What state are your timeshares in? If you object to foreclosure in Florida or other states, they can come after you for deficiency judgment on your house or wages which may include inflated legal fees on both. This is like being half- pregnant. All or nothing on both.
Links to Official State Timeshare Laws and Guides/Manuals
@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...
tugbbs.com
Do you care about your credit rating or is it already gone?
Read the state sticky. If it were me I would consider letting both go if they are located in a non-deficiecy state like FL. You can rent for MF from owners. Or buy resale for less than what it will cost you to get out of this.
My credit rating is probably ruined since I had no money coming in for a year.Sorry to hear of your illness.
We are not lawyers. What state are your timeshares in? If you object to foreclosure in Florida or other states, they can come after you for deficiency judgment on your house or wages which may include inflated legal fees on both. This is like being half- pregnant. All or nothing on both.
Links to Official State Timeshare Laws and Guides/Manuals
@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...
Do you care about your credit rating or is it already gone?
Read the state sticky. If it were me I would consider letting both go if they are located in a non-deficiecy state like FL. You can rent for MF from owners. Or buy resale for less than what it will cost you to get out of this.
Hawaii and Las Vegas
- Joined
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- California
- Resorts Owned
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Both Hawaii and Las Vegas are deficiency states per the link I provided which means if they foreclose they possibly can garnish your wages or come after other assets if you have them.
If you don't have assets or income beyond basic living expenses then you likely don't have much to worry about. Are you based in USA? If not, then there is little they can do.
I highly doubt HGVC would let you work out one and not the other - especially if you owe money on Vegas. Why would they? They may be letting you out of both with this notice and if you raise the prospect of saving one, you may make them salivate and think they can get you to pay for both.
Best to speak with a lawyer.
But whatever you do don't pay any fees upfront to timeshare exit or cancellation lawyers who will give you the same advice as this link and will take more of your money with no results.
Good luck. Please let us know what happens.
If you don't have assets or income beyond basic living expenses then you likely don't have much to worry about. Are you based in USA? If not, then there is little they can do.
I highly doubt HGVC would let you work out one and not the other - especially if you owe money on Vegas. Why would they? They may be letting you out of both with this notice and if you raise the prospect of saving one, you may make them salivate and think they can get you to pay for both.
Best to speak with a lawyer.
But whatever you do don't pay any fees upfront to timeshare exit or cancellation lawyers who will give you the same advice as this link and will take more of your money with no results.
Good luck. Please let us know what happens.
Last edited:
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Marriott Grande Vista
Marriott Harbour Lake
Sheraton Vistana Villages
Club Wyndham CWA
Of course, not legal opinion, but if you come current and pay back all the monies owed on one of the weeks, they would stop the foreclosure process on that one week. They may still prevent you from making cub reservations though because of default on your other week. Not sure what happens after the week is foreclosed and charged off.
I haven't heard of a single situation where someone in a recourse or deficiency state was ever sued for the difference in what was owed on the timeshare and what it sold for in foreclosure. I would really hope any judge would laugh them out of court. Any amounts written off may trigger a 1099-C and may have tax implications.
I haven't heard of a single situation where someone in a recourse or deficiency state was ever sued for the difference in what was owed on the timeshare and what it sold for in foreclosure. I would really hope any judge would laugh them out of court. Any amounts written off may trigger a 1099-C and may have tax implications.
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Here are your odds. Sounds like HGVC may act on loans (2 out of 3 datapoints). Please report back on what happens so we get more DPs. Good luck!
