Stop Paying Bluegreen Maintenance Fees Affects Credit Score?

[MrLumberjack300]

Been Bluegreen owners for a while, but we can no longer afford the maintenance fees. We've been trying to re-sell through Pinnacle but no luck. I've been renting out points on my own but don't recoup the maintenance fees.

Bluegreen informed us that to get out of our contract we need to pay a year and a half worth of maintenance fees up front, which is a lot.

Someone (at Pinnacle) told us that if we just stop paying our maintenance fees, Bluegreen will send us a few letters and eventually terminate our contract, and that it would not affect our credit score. [We don't have a mortgage w/ Bluegreen; we are all paid up so it's just the yearly maintenance fees]

I'm curious if anyone can verify, or refute, this. I don't want to screw with my credit score, but if this is true I might just stop paying.

 

[TUGBrian]

always a possibility of it being reported to the us credit agencies...

also a possibility it wont.


id suggest simply offering the ownership up for free on the resale market and paying the bluegreen transfer fee yourself. this is a much cheaper solution that eliminates any risk of a credit hit.

 

[CamachoDavid]

Been Bluegreen owners for a while, but we can no longer afford the maintenance fees. We've been trying to re-sell through Pinnacle but no luck. I've been renting out points on my own but don't recoup the maintenance fees.

Bluegreen informed us that to get out of our contract we need to pay a year and a half worth of maintenance fees up front, which is a lot.

Someone (at Pinnacle) told us that if we just stop paying our maintenance fees, Bluegreen will send us a few letters and eventually terminate our contract, and that it would not affect our credit score. [We don't have a mortgage w/ Bluegreen; we are all paid up so it's just the yearly maintenance fees]

I'm curious if anyone can verify, or refute, this. I don't want to screw with my credit score, but if this is true I might just stop paying.

Hello MrLumberJack,
I'm wondering what you ended up doing? did you just stop paying the maintenance fees?

 

[Beth_Curt]

Been Bluegreen owners for a while, but we can no longer afford the maintenance fees. We've been trying to re-sell through Pinnacle but no luck. I've been renting out points on my own but don't recoup the maintenance fees.

Bluegreen informed us that to get out of our contract we need to pay a year and a half worth of maintenance fees up front, which is a lot.

Someone (at Pinnacle) told us that if we just stop paying our maintenance fees, Bluegreen will send us a few letters and eventually terminate our contract, and that it would not affect our credit score. [We don't have a mortgage w/ Bluegreen; we are all paid up so it's just the yearly maintenance fees]

I'm curious if anyone can verify, or refute, this. I don't want to screw with my credit score, but if this is true I might just stop paying.

Hi: we are in the same boat. We have talked to several sales people and management at BG & they said that we would get phone calls & possibly collection letters. We are not all that concerned because our mortgage is paid off and they can just have it back to resell. If it is reported to the credit agencies you are able to write to them explaining the situation. I doubt that in this circumstance it would affect your credit that much. The agencies are more concerned with having liens, defaults on loans, judgements and constant late payments, especially mortgage payments.
Best of luck to you!!

 

[GrayFal]

Hi: we are in the same boat. We have talked to several sales people and management at BG & they said that we would get phone calls & possibly collection letters. We are not all that concerned because our mortgage is paid off and they can just have it back to resell. If it is reported to the credit agencies you are able to write to them explaining the situation. I doubt that in this circumstance it would affect your credit that much. The agencies are more concerned with having liens, defaults on loans, judgements and constant late payments, especially mortgage payments.
Best of luck to you!!

From what I have read on several BG Facebook groups, not paying your maint fee is not reported to any credit agencies. Obviously you take this action at your own risk, but that seems to be the
consensus .

 

[hcarman]

I still don’t understand why they don’t have a better exit program. If they get the points back they will resell for a lot more money. When owners are faced to just stop paying their fees and wait - it causes bad debt which everyone has to absorb. A better exit program seems like a win win for all.