What happens if I don't pay "maintenance fees" on BlueGreens contract?

[Troop4Christ]

Looking to get out of this Bluegreens contract that I've had since 2018.

Initially, it seemed to make some sense having it. We actually enjoyed it the first few years. We also don't have a loan for the contract, we paid for it outright.

But now the "maintenance fees" have doubled and I'm finding that I can stay at the SAME properties for a week for LESS than my maintenance fees. Rather annoyed by their lack of service as well while at their properties.

Anyway. Been reading a lot on here. I called BGs and they sent me a quote to get out, before my yearly fees were due this past July, and it was over $2500 or something to get out. Basically looks like they just want two years of "maintenance fees" plus some to get out.

Then I saw all the folks mentioning you could just ghost them and how they just let BGs just "foreclose" on their contracts.

My questions are these:

For those of y'all who did this, what was the hit in points to your credit?
Did you have a loan that was also foreclosed on or did you own the contract outright?
I'm not an expert in real-estate financing, but how can someone "foreclose" on something, that's not a loan? This bit is confusing to me. Are they saying that I agreed in perpetuity to pay the "maintenance fees" so they're "foreclosing" on the value of those? If so, how is that amount determined since the contract doesn't have an end date and the assumption was that those fees would be payed in perpetuity?

Anyway.. I have around an 800 credit score, so just wondering if it's worth it to just take the hit, and not be out the few thousand they want to exit.

Thanks!

 

[TUGBrian]

all depends on your situation.

What happens if I stop paying for my Timeshare?

Can I just stop paying for my Timeshare? What would happen?

tug2.net

foreclosure is the process of recovering a deed from an owner that is in default (ie hasnt paid).

sounds like you were offered an option to surrender without any penalty but it was too expensive, have you tried to give your ownership away? thats usually much cheaper!

 

[Troop4Christ]

all depends on your situation.

What happens if I stop paying for my Timeshare?

Can I just stop paying for my Timeshare? What would happen?

tug2.net

foreclosure is the process of recovering a deed from an owner that is in default (ie hasnt paid).

sounds like you were offered an option to surrender without any penalty but it was too expensive, have you tried to give your ownership away? thats usually much cheaper!

Didn't know that was an option?

How would I find someone willing to take it?

 

[TUGBrian]

How can I give away my timeshare on TUG for Free?

Before you pay an upfront fee to someone to "take your timeshare off your hands," please consider giving your timeshare away to a private individual who would like to own it. Why? -You can give it away yourself for nearly no cost. -You can control the transfer process to make sure it is truly...

tugbbs.com

 

[dioxide45]

You probably need to join a Bluegreen Facebook group and offer it up on there. Depending on what you own, it might have a little value. Do you own points? If so, the determining factor on value is the resort and week you have for the Priority User Period.

 

[kestratford]

Does a timeshare owner have any recourse if maintenance fees are raised to extremes. Briarwood Resort Falmouth was a timeshare resort for partial year; then Board and Manager managed to buy or foreclose on some owners and sold those units as condominiums. Now we are partial condo and timeshare. The Manager of the resort owns at least two condos. Last year maintenance fees for Timeshare owners went up $500; this year they are going up another $500. Probably 2026 ANOTHER $500. Condo owners' HOA fees went up a small amount. Owners were told if they dont want their timeshare and want to avoid foreclosure, the resort will buy their week for $1.00. Some of the condo sales are being held up in the Land Court, and we were told our resort's insurance cost went way up. Any help re the resort's status now?

 

[rapmarks]

Op can try to sell on the Bluegreen site on Facebook. Even if he sells at a penny a point, wither a buyer is happy or Bluegreen used Rofr and takes the points and repays sellers closing costs.

 

[TUGBrian]

Owners were told if they dont want their timeshare and want to avoid foreclosure, the resort will buy their week for $1.00.

this seems like a valid option for anyone who no longer wants to own?

 

[superman_32877]

Today, I was told at an owner review in Michigan that BG doesn't do anything with accounts in foreclosure. They eventually will take the points/deed back and resell it. Given in Michigan, BG sales must be licensed like a real estate agent, I have some faith that what they say is more true than untrue.

 

[Star15]

Looking to get out of this Bluegreens contract that I've had since 2018.

Initially, it seemed to make some sense having it. We actually enjoyed it the first few years. We also don't have a loan for the contract, we paid for it outright.

But now the "maintenance fees" have doubled and I'm finding that I can stay at the SAME properties for a week for LESS than my maintenance fees. Rather annoyed by their lack of service as well while at their properties.

Anyway. Been reading a lot on here. I called BGs and they sent me a quote to get out, before my yearly fees were due this past July, and it was over $2500 or something to get out. Basically looks like they just want two years of "maintenance fees" plus some to get out.

Then I saw all the folks mentioning you could just ghost them and how they just let BGs just "foreclose" on their contracts.

My questions are these:

For those of y'all who did this, what was the hit in points to your credit?
Did you have a loan that was also foreclosed on or did you own the contract outright?
I'm not an expert in real-estate financing, but how can someone "foreclose" on something, that's not a loan? This bit is confusing to me. Are they saying that I agreed in perpetuity to pay the "maintenance fees" so they're "foreclosing" on the value of those? If so, how is that amount determined since the contract doesn't have an end date and the assumption was that those fees would be payed in perpetuity?

Anyway.. I have around an 800 credit score, so just wondering if it's worth it to just take the hit, and not be out the few thousand they want to exit.

Thanks!

It doesn't appear that your questions were specifically addressed by owners that have stopped paying maintenance fees (property contract is fully paid) to get out of their Bluegreen ownership. This is also what I plan to do based on my research. As the fees go up every year, and there are better rental offers compared to paying maintenance fees, we are planning on to stop paying the annual fees when the time comes. I have read on other websites that there is NO hit on your credit and no calls from credit collection agencies. Even so, the unknown calls can easily be ignored. Bluegreen won't take any action as they can foreclose on the property and resell the units/points at a higher point value after a period of no payment of maintenance fees. Comments?

 

[easyrider]

It doesn't appear that your questions were specifically addressed by owners that have stopped paying maintenance fees (property contract is fully paid) to get out of their Bluegreen ownership. This is also what I plan to do based on my research. As the fees go up every year, and there are better rental offers compared to paying maintenance fees, we are planning on to stop paying the annual fees when the time comes. I have read on other websites that there is NO hit on your credit and no calls from credit collection agencies. Even so, the unknown calls can easily be ignored. Bluegreen won't take any action as they can foreclose on the property and resell the units/points at a higher point value after a period of no payment of maintenance fees. Comments?

Hilton Grand Vacations had bought Bluegreen Resorts. The plan, kind of in the works, but still a big maybe, includes a way for the members of both to use the others resorts. I doubt that it is Bluegreens problem if you stop paying at least until things are organized by Hilton.

For me, I would try to get rid of it even if it cost a bit. The last timeshare I gave away, not a Bluegreen, costed us the mf and closing costs. Probably $1500. You could use the exit program as well.

If you walk away please let us know what happens.

Bill

 

[Troop4Christ]

It doesn't appear that your questions were specifically addressed by owners that have stopped paying maintenance fees (property contract is fully paid) to get out of their Bluegreen ownership. This is also what I plan to do based on my research. As the fees go up every year, and there are better rental offers compared to paying maintenance fees, we are planning on to stop paying the annual fees when the time comes. I have read on other websites that there is NO hit on your credit and no calls from credit collection agencies. Even so, the unknown calls can easily be ignored. Bluegreen won't take any action as they can foreclose on the property and resell the units/points at a higher point value after a period of no payment of maintenance fees. Comments?

@Star15 any idea what your timeline looks like? When are your fees due again? Mine aren't due until next summer... so I've got some time...