We Need Out... Help

[DesteneR]

Hello so my husband and I went to a presentation back in November 2019 and was persuaded into a timeshare. After taking the time to research we started to realize the timeshare was completely pointless especially when we could have brought points at our own leisure.
Long story short, we have roughly around a $1,200 deposit before the timeshare is activated but we couldn’t pay it the the same day. The payments were split up for the actual DEPOSIT but it is not paid in full.

Being that the deposit is not paid in full, we wanted to know if there is still a exit route to get out of the contract?
( Any guidance would be great)

 

[Grammarhero]

Hello so my husband and I went to a presentation back in November 2019 and was persuaded into a timeshare. After taking the time to research we started to realize the timeshare was completely pointless especially when we could have brought points at our own leisure.
Long story short, we have roughly around a $1,200 deposit before the timeshare is activated but we couldn’t pay it the the same day. The payments were split up for the actual DEPOSIT but it is not paid in full.

Being that the deposit is not paid in full, we wanted to know if there is still a exit route to get out of the contract?
( Any guidance would be great)

You’re likely stuck with HIVC. What state did you purchase in? If TS owners purchased in
CA, FL, ME, SC, WI, HI, MT and default on their mortgages, as long as TS owners don’t object to the non-judicial foreclosure, most TS resorts can do is take back the TS without pursuing any deficiency. The TS owner’s credit will probably get wrecked though.

if you default, please kind PM me or let us know on whether your credit got affected. Best of luck!

 

[DesteneR]

You’re likely stuck with HIVC. What state did you purchase in? If TS owners purchased in
CA, FL, ME, SC, WI, HI, MT and default on their mortgages, as long as TS owners don’t object to the non-judicial foreclosure, most TS resorts can do is take back the TS without pursuing any deficiency. The TS owner’s credit will probably get wrecked though.

if you default, please kind PM me or let us know on whether your credit got affected. Best of luck!

We purchased in Williamsburg, Virginia and we are perfectly fine with losing the credit we just don’t to be stuck with the timeshare

 

[Grammarhero]

We purchased in Williamsburg, Virginia and we are perfectly fine with losing the credit we just don’t to be stuck with the timeshare

this isn’t legal advice but telling you your options which you must choose. You can call the resort and tell them you are no longer proceeding with the purchase. They will keep the deposit. They may threaten you with a lawsuit.

Virginia Real Estate Time-Share Act

law.lis.virginia.gov

operative language: “With respect to the enforcement of provisions in the contract of purchase that require the continued furnishing of services and the reciprocal payments to be made by the purchaser, the period of bringing a judicial proceeding shall continue for a period of two years for each breach.” Sec. 55.1-2231

In VA, Resorts have two (2) years to sue defaulting TS mortgage owners, including for balance of TS loan. Out of thirteen (13) TS mortgage defaults reported to or on TUG, only one (1) went to a lien and collections. For the other (12), seven (7) owners had credit score decreases, but did not face collections, liens, or lawsuits. Five (5) did not have any credit consequences.

good luck! If you choose to default, please kindly let us know if your credit got affected. You can also PM me. Just like this data presumably helped you, whether your credit got affected would help those moving forward

 

[Grammarhero]

deleted

Are you a shill? Looks like you joined 14 minutes ago. Can you post paperwork showing how they helped you?

 

[theo]

deleted

Let me be the first to say (but not by call or text) Goodbye, before your unwelcome and inappropriate "ad" gets removed entirely.

 

[simpsontruckdriver]

You can see hundreds of posts here about it, but you SHOULD NOT talk to any timeshare exit company. They are frauds, many have been sued and lost and/or lost their BBB affiliation due to fraud.

TS

 

[Grammarhero]

We purchased in Williamsburg, Virginia and we are perfectly fine with losing the credit we just don’t to be stuck with the timeshare

@DesteneR
We hope you are well. If you make the hard decision to default, please kindly let us know if your credit got affected. It would help tuggers in similar situations moving forward.