I found a buyer for my Westgate Smoky Mountains timeshare. I'm selling it for what I owe on it.
The buyer completed a loan application with Westgate which was approved.
The paperwork was sent to Equity Land and Title from Westgate.
EL&T then sent me, the seller, the paperwork. Here's my issue...
On the "Assumptions and Modification Agreement" page it reads as follows...
"The parties expressly acknowledge that SELLER is not being released from its obligation under the Note and Deed of Trust and remains fully liable thereon."
It also says...
LENDER hereby recognizes BUYER as an additional obligor on the NOTE and DEED OF TRUST.
Why is it like this?? I don't know the buyer. I'm selling the timeshare. I want nothing else to do with it. I've emailed both Westgate and Equity Land and Title. Waiting on a reply...
:annoyed:
The buyer completed a loan application with Westgate which was approved.
The paperwork was sent to Equity Land and Title from Westgate.
EL&T then sent me, the seller, the paperwork. Here's my issue...
On the "Assumptions and Modification Agreement" page it reads as follows...
"The parties expressly acknowledge that SELLER is not being released from its obligation under the Note and Deed of Trust and remains fully liable thereon."
It also says...
LENDER hereby recognizes BUYER as an additional obligor on the NOTE and DEED OF TRUST.
Why is it like this?? I don't know the buyer. I'm selling the timeshare. I want nothing else to do with it. I've emailed both Westgate and Equity Land and Title. Waiting on a reply...