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Inquiry Regarding Foreclosure

brial05 said:
I ran this by a colleague in FL who used to work for HGVC Corp; HGVC will pursue you internationally and as I am told, internationally they are much more successful than in the US.
This of course makes sense; just because someone who purchased is a 'foreigner with no U.S. credit history at stake', does not make you less liable for the contract you signed.
Click to expand...
What does persue mean though? Just collection calls? If so, that is pretty standard. Foreclosure is also the same end result regardless of where the owner lives. The main issue and concern for most people is reporting to credit agencies. That is unlikely in most cases and less so in the case of just default on maintenance fees.
 
brial05 said:
I ran this by a colleague in FL who used to work for HGVC Corp; HGVC will pursue you internationally and as I am told, internationally they are much more successful than in the US.
This of course makes sense; just because someone who purchased is a 'foreigner with no U.S. credit history at stake', does not make you less liable for the contract you signed.
Click to expand...
I find that hard to believe since the credit agencies and history of other companies, especially Canada, and the USA are not connected in any way. I personally know of 2 Canadians who, one, defaulted on a roughly US $20K purchase(upgrade) loan & subsequent maintenance fee payments and another with just maintenance fee payments on a long paid off timeshare, both in Florida, who got nothing more than threatening letters which were trashed. It is a very complicated, costly, lengthy, legal process to chase a debt into any foreign country and I think most companies would rather not go to all that trouble, especially for maintenance fee payments on something that isnt even being used. Also, defaulting on a loan or maintenance fee payments, at least for Canadians, will in no way affect their future travel to the US as the Customs/Immigration computer systems of both countries are not connected to any financial or other companies.

~Diane
 
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