To possibly surrender your Vacation Village At Parkway, plead your case to them

[VK80]

From what I have read on other posts , I would not recommend just stopping to pay , if you have a MTGE..We did not have a Mtge and also did not just stop paying maintenance fees. I contacted them and furnished medical info that I would not be able to travel there anymore. I was contacted, surrendended deed to them and paid $1500 and we were done. That was years ago, I do not know their policy today !! Good luck

Okay thanks, I'll check with them

 

[GJSinDBQ]

So here is my situation. We own a 2 bedroom lockout, week 13, at Vacation Village at Parkway. I've set emails to the Owners Resolution Department, explaining to them that, while we probably do not qualify for a medical or financial hardship, I have numerous stents (13 to be exact) and my wife has an autoimmune deficiency. They responded back "Sorry, we need a letter from your doctor." Probably won't get that. We paid cash for the contract and the MF are not exorbitant - about $1100 every other year. Our children do not want the timeshare and we've tried to sell it for $1 with no luck. I sent a response back to them saying that I'd be happy to pay the $1500 deed transfer fee and that we will no longer be making any MF payments. Smart move? Your thoughts? TIA

 

[escanoe]

Ask a doctor to give you a note. My bet is they would do it and not think twice.

 

[CYRUS2400]

So here is my situation. We own a 2 bedroom lockout, week 13, at Vacation Village at Parkway. I've set emails to the Owners Resolution Department, explaining to them that, while we probably do not qualify for a medical or financial hardship, I have numerous stents (13 to be exact) and my wife has an autoimmune deficiency. They responded back "Sorry, we need a letter from your doctor." Probably won't get that. We paid cash for the contract and the MF are not exorbitant - about $1100 every other year. Our children do not want the timeshare and we've tried to sell it for $1 with no luck. I sent a response back to them saying that I'd be happy to pay the $1500 deed transfer fee and that we will no longer be making any MF payments. Smart move? Your thoughts? TIA

If you send them $1500 without a firm exit plan, they will just apply it to your MF's and you will be no closer to getting out of it. Just let it go, don't send them money and don't answer the letters or calls. They will send the MF bill to collections and you may get a few letters/calls asking for payment. Your RCI account will lose access to the points. Florida is one of those states where ignoring VV will let the unit go to foreclosure. You may or may not take a credit hit. At this point in your life, do you really care about your credit score? You've tried to unload it and you've tried to work with VV. At this point, just stop paying the MF's.

 

[soAshamed]

If you send them $1500 without a firm exit plan, they will just apply it to your MF's and you will be no closer to getting out of it. Just let it go, don't send them money and don't answer the letters or calls. They will send the MF bill to collections and you may get a few letters/calls asking for payment. Your RCI account will lose access to the points. Florida is one of those states where ignoring VV will let the unit go to foreclosure. You may or may not take a credit hit. At this point in your life, do you really care about your credit score? You've tried to unload it and you've tried to work with VV. At this point, just stop paying the MF's.

I feel like I should probably stop paying MF . Too bad I didn't research all this before sending check in 2wks ago. And 2years ago before we got in all this mess. Is there any point in communicating with the Owners Resolution Department at this point since V V already denied transfer ?

 

[CYRUS2400]

From what I've experienced and read, once you've made reasonable efforts at unloading the timeshare AND made the decision to let it go to foreclosure, stop making payments and make no contact. If no loan is involved, there is little risk of a credit hit from the collections group. I sent you a DM, feel free to reach out and I can give you more about my experiences with VV.

 

[Dc3drivr]

I got a credit hit in 2024.

 

[TUGBrian]

was this for defaulting on a loan, or just the maintenance fees? would love more details!

 

[theo]

I feel like I should probably stop paying MF . Too bad I didn't research all this before sending check in 2wks ago. And 2years ago before we got in all this mess. Is there any point in communicating with the Owners Resolution Department at this point since V V already denied transfer ?

For what it’s worth (maybe nothing), Vacation Villages / Berkley Group has very recently been bought out (by Vacatia). I have no idea whether or not this change might impact the historical reluctance of VV to accept “deedbacks”, but it may be worth at least looking into it further.

 

[Tamaradarann]

For what it’s worth (maybe nothing), Vacation Villages / Berkley Group has very recently been bought out (by Vacatia). I have no idea whether or not this change might impact the historical reluctance of VV to accept “deedbacks”, but it may be worth at least looking into it further.

I think it may be too soon to notice a change in the Deedback policy of Vacation Village, Berkley Group, or Vacatia. I am hopeful that when Shin(the CEO of Vacatia) gets to look at the full picture of the future of the Timeshare Industry she will see the Financial Benefits of $0 Deedbacks in Profit for her firm as well as its importance in the Retention of Maintenance Paying Ownership.

 

[CYRUS2400]

was this for defaulting on a loan, or just the maintenance fees? would love more details!

I think I should share that I took a credit score hit AND a hit to my FICO score in the last few days. FICO dropped from 841 to 737. No Loan. I merely did not pay the Maintenance Fees for 2024. Was sent to collections in June 2024. Had a warning letter last month (January) that they were going to turn me over to a Credit Bureau. Had a notice that Transunion had dropped my score 2 days ago (only by a small amount). Yesterday, the FICO score drop showed up. I had tried to give it away, no success. I do not have a medical/financial hardship so chose to take just let it go and let the chips fall where they may.

Do I care? No. I'm not planning on borrowing any money at this point in my life.

 

[TUGBrian]

this is actually the first recorded incident of a credit hit due to unpaid maintenance fees.

if you dont mind us asking, what were the fees owed in 2024?

 

[CYRUS2400]

this is actually the first recorded incident of a credit hit due to unpaid maintenance fees.

if you dont mind us asking, what were the fees owed in 2024?

The total bill after fees and interest, as reported to the Credit Bureau, was $1649. IIRC, the annual fee for VV Parkway was in the $1150 range,