Westgate Resorts

[DaveMason]

Hi. Any advice would be appreciated.

We are based in the UK and currently paying off a mortgage. However I am under the threat of redundancy and will soon not be able to make my payments - which are currently up to date.

Reading the various threads, it is obvious that the TS is worth a lot less on the resale market than the outstanding balance due.

How can I get out of this with as little pain as possible?

 

[timeos2]

Approach WG to accept a deed back. That is your best hope. Good luck.

 

[AKE]

I hate to say it but you can get Westgate (and many other timeshares) for free on the internet so it really has minimal value at best. If the resort won`t take it back and you can`t afford the payments then you don`t have many options. There is another thread on this board re simply walking away from the unit. I don`t know what legal repercussions there would be (though you wouldn`t be the first by any means) but your credit rating may take a hit in the U.S. What effect this would have in the UK I don`t know but if you can`t afford something then you can`t afford it and have to decide on the best course of action to take.

 

[Kola29]

Approach WG to accept a deed back. That is your best hope. Good luck.

Do you know of any specific examples of Westgate Resorts taking back a deeded week for free ?

 

[danieltug]

How did this end? I've got a westgate resort as well.

 

[timeos2]

Do you know of any specific examples of Westgate Resorts taking back a deeded week for free ?

Yes. But only after it was made clear to them that they would not be getting another penny from the owner. They will bombard you with collection calls but ultimately ask you to accept a "settlement" of giving them a deed back - which is what you wanted all along - at no cost and they will remove any negative credit reports as part of that. It takes time but it can and does happen and no massive fees required. Good luck.