• 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 30 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Read about our 30th anniversary: Happy 30th 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 $21,000,000 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 $21 Million dollars
  • Sign up to get the TUG Newsletter for free!

    60,000+ 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!

[ 2019 ] Letting timeshare foreclose

Fredflintstone

TUG Member
Joined
Jul 15, 2018
Messages
1,928
Reaction score
2,525
Points
324
Resorts Owned
Rent only
As an aside. During my two years of tribulations and stiffing Wastegate, they did not foreclose. I did not call them. They charged me a delinquency fee for each year, but they did not foreclose. I wonder how long it would have taken before they would have taken action. They won on their bet as I brought it up to date over the course of a year when I got a job.

From what I have read, some timeshares, especially legacy ones, are very slow to foreclose. It’s because they hope and pray you resume payments, the return rates are either low (like a buck) and they are impossible to resell.

I think too they assess whether they can collect. If you are out of country or clearly broke, the odds of you coming on stream is low...thus foreclose.

State laws also play a role. If, let’s say, the timeshare is in California where non judicial, anti deficiency laws are in place, there is no point waiting and hoping. However, if the timeshare is in a judicial, deficiency state, costs to foreclosure are higher and time consuming, plus judgement placements are more assured.

Maybe I can con errr...ask @Grammarhero to see if there is a way to see if what I have read is true or not. I’m not sure whether it is possible though as many defaulted owners may not even know if the timeshare foreclosed or not.

What I do find interesting is I read an article where RCI attempts to gather information on the defaulted owner to garner new contact details. I am not sure if that is true or not though.


Sent from my iPad using Tapatalk
 

LannyPC

TUG Member
Joined
Jul 5, 2010
Messages
4,779
Reaction score
2,407
Points
448
Location
British Columbia
It is even more unfair that those timeshare owners who enjoy their TS and pay their dues are the ones penalized with increase in maintenance fees, when their fellow TS owners decide to stop paying their own fees.

I'm going to play devil's advocate for a minute here just for argument's sake. As a disclaimer, I do not own a TS so this is just for bantering. If faithful owners who enjoy their TSs are complaining to me (a delinquent owner who is just letting it go into foreclosure) that I am causing his MFs to go up because I'm not paying and am letting it go into foreclosure, I could very well say to them, "Hey, if you like it so much, then you and all the owners who are enjoying it, pay your fees. If it's too much for you, then do what I am doing and walk away. I'm not paying for you to enjoy it. If you and all the other owners see value in it then pay. If you don't, then let the place go bankrupt and shut down."

As cold-hearted (and perhaps irresponsible) as that may sound, I am not paying $1000 per year so that others can enjoy their vacations.
 

Fredflintstone

TUG Member
Joined
Jul 15, 2018
Messages
1,928
Reaction score
2,525
Points
324
Resorts Owned
Rent only
I'm going to play devil's advocate for a minute here just for argument's sake. As a disclaimer, I do not own a TS so this is just for bantering. If faithful owners who enjoy their TSs are complaining to me (a delinquent owner who is just letting it go into foreclosure) that I am causing his MFs to go up because I'm not paying and am letting it go into foreclosure, I could very well say to them, "Hey, if you like it so much, then you and all the owners who are enjoying it, pay your fees. If it's too much for you, then do what I am doing and walk away. I'm not paying for you to enjoy it. If you and all the other owners see value in it then pay. If you don't, then let the place go bankrupt and shut down."

As cold-hearted (and perhaps irresponsible) as that may sound, I am not paying $1000 per year so that others can enjoy their vacations.

Very interesting angle . In most situations, if you are displeased with the pricing, service, quality, you can simply walk. That’s what forces most companies to continue to excel. It’s survival.

Then we have timeshares. You sign a contract that locks you in. So, IMO, you have given them a blank check. They can fee whatever, allow things to slide and if you complain... well...you signed a contract. Walk away...you got a contract.

That’s the main reason I have not and won’t re enter into a timeshare agreement. As a renter, I can walk. As a renter, I dont pay fees when I am unable to use the timeshare. As a renter, I don’t need to return. Saying that, many timeshares are beautiful places and I sure like the condo style living while vacationing. I can still get that by renting a timeshare. I just see it as freedom.

I do respect those who own too. Each to his own and I know many owners very happy with their timeshares. Many tell me they don’t mind being chained to a contract. However, if you choose to own, you also choose to pay whatever MF bill that comes your way.

That’s why I too think timeshares need to change. From what I have read, I see many a millennial not choosing locked in contracts. That’s just another reason why owning, IMO, is just not the way to go. I know...many here disagree and I respect that.


Sent from my iPad using Tapatalk
 

Mtsmith

TUG Member
Joined
Dec 5, 2014
Messages
5
Reaction score
3
Points
113
Location
Topeka,ks
That’s life!! Period!!

You bought. Deal with it
If I forever drive my car. I forever have insurance and maintenance etc. forever!!! Period
When I no longer want my car or TS then get rid of it
My entire point with any comments is that why would I or ANYONE else feel that they’re entitled to a deal from the seller??

Foolish. Period

If the day comes when I have to get rid of what I own. I’m not going to go to the seller and cry a river
I’m a man. I will take whatever consequences. If any as you say and move on but it was I who did the original buying
Jumping in late to the party. I bought at The Colonnade in Branson. The manager there, an employee of the company, took maintenance fees, extra “onetime” fees for “repairs” of the property and put them in his bank accounts. Got cot caught and went to jail. For several years I was “required” by the TS contract to pay fees even though the resort was closed. Now open under Oak Ridge At Branson they are still sending bills. I don’t feel like I received what I was promised, but TS companies don’t care. I have offered to pay the MF of the past three years (even though there was no TS to use) if they take it back. We will see what happens. But I don’t feel like I am “crying a River”. Oh, and I’m a man too.
 

Ellie23

newbie
Joined
Nov 22, 2021
Messages
33
Reaction score
3
Points
8
Resorts Owned
Grandview at Las Vegas
On the subject of foreclosure for non-payment of Maintenance Fees, that happened to my wife and I. We owned Wyndham, deeded at Star Island. But, when the Great Recession hit, we had a hard time keeping any of our bills current, so we didn't pay Wyndham. About a year and a half later, we got a message from them saying they were foreclosing on it, that we don't need to do anything. Years later, they never touched our credit.

TS
I know this post was from a while ago, but did you guys have a Mortage left to pay when you defaulted in your MF? (I'm asking because I'm in a similar issue with another timeshare except I have unpaid mortgage fees)
 

D15

newbie
Joined
Aug 2, 2023
Messages
2
Reaction score
0
Points
1
Resorts Owned
Vacation Village formerly Williamsburg Plantation
Thank you for your good explanation of the steps you took to get out of your timeshare. We are in the exact same situation. I plan on sending a registered letter to Williamsburg Plantation requesting to be "released" from our timeshare. Interval International bill is coming up at the end of the year and I don't want to pay for more years of trading that have been really difficult. 50 points on our credit score mean virtually nothing. If I need to I'll send an explanation of the timeshare issue to credit bureaus. Again thanks for the encouragement.
How did your situation with Williamsburg Plantation turn out? We have a TS there and want out.
 

Kenil Place

TUG Member
Joined
Jul 3, 2023
Messages
5
Reaction score
0
Points
51
Resorts Owned
Fox Run Townhouses, Lake Lure NC
Thank you for your good explanation of the steps you took to get out of your timeshare. We are in the exact same situation. I plan on sending a registered letter to Williamsburg Plantation requesting to be "released" from our timeshare. Interval International bill is coming up at the end of the year and I don't want to pay for more years of trading that have been really difficult. 50 points on our credit score mean virtually nothing. If I need to I'll send an explanation of the timeshare issue to credit bureaus. Again thanks for the encouragement.
How did that go after you sent the letter to Williamsburg Plantation? Did they go along with your request?
 

DeniseM

Moderator
Joined
Jun 6, 2005
Messages
57,672
Reaction score
9,092
Points
1,849
Resorts Owned
WKORV, WKV, 2-SDO, 4-Kauai Beach Villas, Island Park Village (Yellowstone), Hyatt High Sierra, Dolphin's Cove (Anaheim)
Please note - this thread is from 2019.
 

Kenil Place

TUG Member
Joined
Jul 3, 2023
Messages
5
Reaction score
0
Points
51
Resorts Owned
Fox Run Townhouses, Lake Lure NC
Please note - this thread is from 2019.
Yes, thank you, I saw the date. I was just hoping to get a response from the poster, as to how things worked out for him.
 

amycurl

TUG Review Crew
TUG Member
Joined
Sep 26, 2011
Messages
3,072
Reaction score
3,119
Points
449
Location
Greensboro, NC
I would send a direct message to the poster you are trying to reach. (Click on their user name, then hit "Start Conversation.") They're more likely to see it, and it will let this zombie thread die once again. (I know, I know, posting this makes me part of the problem...)
 

Kenil Place

TUG Member
Joined
Jul 3, 2023
Messages
5
Reaction score
0
Points
51
Resorts Owned
Fox Run Townhouses, Lake Lure NC
The poster you are trying to reach hasn't been around since January 24th, 2020. Highly doubtful that you'll ever get a response at all.





.
Thank you for the info; I'll keep searching for a post with a similar topic and hopefully good advice.
 

TUGBrian

Administrator
Joined
Mar 24, 2006
Messages
22,096
Reaction score
7,679
Points
1,099
Location
Florida
Thank you for the info; I'll keep searching for a post with a similar topic and hopefully good advice.
what have you tried sofar to give away or give back the timeshare there?

is it paiad off?
 
Top