Official TUGBBS Rescission Master
TUG Lifetime Member
- Jun 9, 2019
- Reaction score
- Washington, DC Area
- Resorts Owned
- Wyndham 353k pts, Williamsburg Plant 4L/4 & 2/2, DRI South Bend 1/1
Correct. Any judicial lawsuit would take at least $2.8k ($2k to prepare complaint and exhibits, $400 for initial appearance, $400 for final appearance). I see WA resorts doing that only with a mortgage and some other incentive (i.e. TS owner is loaded or has a HELOC). If in WA, a defaulting TS owner has fixed income and a high mortgage, I can't see the WA resorts going the judicial foreclosure route.Thanks @Grammarhero for helpful info. This is a great service.
If I understand WA correctly it means it is a crap shoot as to whether one is safe if if one walks.
If so my assumption (if I were to place bets) is that low $ amounts such as MF would not be worth the legal cost so likely non-judicial anti-defiency would most likely be pursued.
If high $ mortgage they might pursue a deficiency judgement.
Is my gamble a reasonable bet?
DC, along with four (4) other states, has no timeshare laws. I don't even think DC has any timeshares. DC is just a really congested, but formerly dangerous place ruled by hotels. DC limits airbnbs to 90 days a year. https://www.washingtonpost.com/local/dc-politics/dc-council-votes-to-restrict-airbnb-in-nations-capital/2018/10/02/9431979a-c652-11e8-b1ed-1d2d65b86d0c_story.html
That explains why I got mugged in Washington DC 6 years ago. First and only time to have the pleasure. at least the fellow gave me a choice of my wallet and my watch OR my life versus AND my life. That was very neighbourly of him.DC, along with four (4) other states, has no timeshare laws. I don't even think DC has any timeshares. DC is just a really congested, but formerly dangerous place ruled by hotels. DC limits airbnbs to 90 days a year. https://www.washingtonpost.com/local/dc-politics/dc-council-votes-to-restrict-airbnb-in-nations-capital/2018/10/02/9431979a-c652-11e8-b1ed-1d2d65b86d0c_story.html
Until the 2000s, there really wasn't a reason to have TSs in DC, which was that dangerous.