I received this letter in the mail the other day. Trying to determine what exactly I should do to get out of this. Mine is paid in full, except my MF for this year. Is there a way to default, it be resold and not ding credit? Do I just pay them?
"NOTICE OF ASSOCIATION LIEN, DEFAULT AND DISPOSITION OF COLLATERAL BY PUBLIC SALE
The Diamond Resorts U.S. Collection Members Association has a security interest in your Timeshare Interest Membershio in the Diamond Resorts U.S. Collection, including the 7,500 points associated therewith. The security interest granted therein, which is coupled with a power of sale, secures payment of all sums due and owing to the Association pursuant to the Association's Declaration, as amended from time to time, Assessment Billing and Collection Policy and other governing documents (collectively, the "Governing Documents"). You are hereby formally notified that you are in default of your obligations under the Governing Documents by failing to pay the assessments and other amounts due and owing thereunder.
NOTICE IS HEREBY GIVEN that based upon your default, the Association does hereby assert its lien rights against your Timeshare Interest and declares that all sums due under the Governing Documents are immediately due and payable. In order to satisfy the lien asserted herein and pay off the amounts due to the Association, your Timeshare Interest will be sold at public sale (the "Sale") conducted by Greenspoon Marder, LLP who is hereby appointed Trustee by the Association in connection therewith. The Sale will be conducted as set forth below:
The amount you owe to the Association under the Governing Documents is Timeshare Interest is being sold "AS-IS, WHERE-IS" WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND BUT SHALL BE MADE SUBJECT TO ALL EXISTING TERMS, COVENANTS, AND CONDITIONS OF THE AFOREMENTIONED COLLECTION AND ALL GOVERNING DOCUMENTS IN ANYWAY RELATING OR PERTAINING THERETO. THE TIMESHARE INTEREST IS ALSO BEING SOLD SUBJECT TO ANY PRIOR LIENS, ENCUMBRANCES OR CLAIMS OF ANY SENIOR OR PRIOR LIENHOLDER OR OF ANY OTHER KIND WHATSOEVER. The Sale is subject to cancellation and/or postponement for any reason, or no reason. The Sale of the Timeshare Interest will terminate the Membership and all points will be vested in the Association or other purchaser at the Sale. THIS IS AN IN REM PROCEEDING AND NO MONETARY OR IN PERSONAM JUDGMENT IS BEING SOUGHT AGAINST YOU.
NOTHING HEREIN SHALL BE DEEMED AS A WAIVER OF ANY RIGHT OF THE ASSOCIATION TO PURSUE A MONETARY JUDGMENT OR ANY OTHER AVAILABLE REMEDY AGAINST YOU IN THE EVENT THE FOREGOING SALE IS POSTPONED
YOU ARE ENTITLED TO CURE YOUR DEFAULT AND REDEEM YOUR TIMESHARE INTEREST BY PAYING ALL OUTSTANDING AMOUNTS OWED PRIOR TO THE SALE. YOU ARE ENTITLED TO AN ACCOUNTING OF THE UNPAID INDEBTEDNESS. YOU MAY MAKE PAYMENT TO REDEEM YOUR TIMESHARE INTEREST OR REQUEST AN ACCOUNTING"
