Need SC Attorney for Wyndham Loan Default

[LHM]

Does anyone know a good, reasonably-priced SC attorney that can handle my Wyndham timeshare loan that went into default/possible foreclosure during my marriage separation. Resort Funding will no longer allow me to send in payments and no one is communicating with me from Wyndham. Thanks.

 

[Avislo]

You might want to give the state bar association a call and see if they can recommend someone.

 

[DeniseM]

You don't need an attorney for this - you are in foreclosure - just let it go.

 

[chapjim]

You don't need an attorney for this - you are in foreclosure - just let it go.

That's what foreclosure means -- the ability to make the account current (i.e., to catch up on payments) has been foreclosed. The creditor will sell the property to recover the balance of the loan. Wyndham knows how to do this -- they will come swooping in on someone at a sales presentation with this unbelievably lucky opportunity.

 

[LHM]

That's what foreclosure means -- the ability to make the account current (i.e., to catch up on payments) has been foreclosed. The creditor will sell the property to recover the balance of the loan. Wyndham knows how to do this -- they will come swooping in on someone at a sales presentation with this unbelievably lucky opportunity.

Wyndham has not told me I am in foreclosure, only that the loan is in default. Of the original $88,000, I still owe $25,000 so I am guessing they will come after me for the unpaid balance on the loan plus court costs, their attorney fees, rent,...I'm figuring that I should get advice from a SC lawyer who might can tell me what to expect from Wyndham and what I need to do. So, if anyone has gone through this and can make a referral, I would appreciate it.

 

[chapjim]

Wyndham has not told me I am in foreclosure, only that the loan is in default. Of the original $88,000, I still owe $25,000 so I am guessing they will come after me for the unpaid balance on the loan plus court costs, their attorney fees, rent,...I'm figuring that I should get advice from a SC lawyer who might can tell me what to expect from Wyndham and what I need to do. So, if anyone has gone through this and can make a referral, I would appreciate it.

I'm kind of with Denise on this. Even if you are not technically in foreclosure, you can't make additional payments. That sounds a lot like foreclosure so I would guess that foreclosure is imminent.

It sounds like you have a good idea of what will happen. Paying an attorney will just add to your expenses. Why a South Carolina attorney? Is that where you are? Or where the property is? If you are hard over on hiring an attorney, why not a Florida attorney who would more likely to be able to deal with Wyndham (located in Florida)?

I am an attorney but I am not your attorney. This is not legal advice, but it is worth every penny you paid for it.

 

[LHM]

I'm kind of with Denise on this. Even if you are not technically in foreclosure, you can't make additional payments. That sounds a lot like foreclosure so I would guess that foreclosure is imminent.

It sounds like you have a good idea of what will happen. Paying an attorney will just add to your expenses. Why a South Carolina attorney? Is that where you are? Or where the property is? If you are hard over on hiring an attorney, why not a Florida attorney who would more likely to be able to deal with Wyndham (located in Florida)?

I am an attorney but I am not your attorney. This is not legal advice, but it is worth every penny you paid for it.

It's a Mrytle Beach, SC timeshare. The loan is secured by a mortgage on the timeshare. It's not that I'm worried about losing the timeshare. I'm just concerned with how much the debt will grow to and whether Wyndham can attach the debt to my land that I want to pass on to my children.

 

[am1]

Im sure you could offer to pay off the loan and Wyndham could accept. May want to sue your original lawyer if you had one for getting stuck with the timeshare that had a mortgage.

 

[LHM]

Yeah, I did email the only contact person at Wyndham that Resort Funding gave me the email address of. I explained I had been involved in drawing up a marriage separation agreement while I wasn't paying and asked how much it would take to bring the loan current and how much is the final payoff amount. No response and it has been close to 4 months. I also sent a certified letter to the notice address on the mortgage but it wasn't picked up at their post office and came back to me.
Frankly, I would be fine if Wyndham took the timeshare if they didn't: come after my land, etc. for the $25,000 still owed on the loan. I don:t know if they could take the timeshare and sell it and come after me for the rest if the selling price wasn't enough to cover the remainder of the loan. And I have no idea how much they could tack on to what I owe regarding their court costs, attorney fees, and rent (whatever that is). I hope they give me some communication before I just receive a summons for court. You see why I wanted to talk with an attorney in SC used to these dealings. I guess I could hound the one Wyndham email address every day.

 

[55plus]

Mortage? I thought the timeshare loans were unsecure loans (sometimes called signature loans), not a mortgage. Am I missing something? If it is an unsecure loan maybe you can settle with them for pennies, nickels or dimes on the dollar and not lose what you already have invested.

 

[paxsarah]

Mortage? I thought the timeshare loans were unsecure loans (sometimes called signature loans), not a mortgage. Am I missing something? If it is an unsecure loan maybe you can settle with them for pennies, nickels or dimes on the dollar and not lose what you already have invested.

I thought so too, but I was schooled in a Wyndham Facebook group by numerous people who have mortgages from Wyndham and receive 1098s with their mortgage interest for tax purposes. It seems bonkers, but it's apparently true.

 

[55plus]

Wow! I didn't know Wyndham was in the loan shark business too. How high of interest rate does Wyndham charge? They try to get into your pockets during the sales presentation. If they succeed then they move into your pockets for a long time.

 

[Braindead]

Mortage? I thought the timeshare loans were unsecure loans (sometimes called signature loans), not a mortgage. Am I missing something? If it is an unsecure loan maybe you can settle with them for pennies, nickels or dimes on the dollar and not lose what you already have invested.

I thought so too, but I was schooled in a Wyndham Facebook group by numerous people who have mortgages from Wyndham and receive 1098s with their mortgage interest for tax purposes. It seems bonkers, but it's apparently true.

I called in upon transferring to the MFs, loan servicing line you get a recorded message saying the 1098s will be sent out later this month