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 my Timeshare Maintenance Fees?

Wondering what happens if you stop paying your timeshareMaintenance Fees? Explore the potential consequences and outcomes for owners who decide to quit paying

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 my Timeshare Maintenance Fees?

Wondering what happens if you stop paying your timeshareMaintenance Fees? Explore the potential consequences and outcomes for owners who decide to quit paying

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...

 

[child_of_scammed]

I would like to hear from anyone that stopped paying their maintenance, and what Bluegreen did in response.

My parents got scammed into wasting their meager dollars on this Bluegreen garbage, and I'm trying to get them out of it.

 

[Passepartout]

I would like to hear from anyone that stopped paying their maintenance, and what Bluegreen did in response.

My parents got scammed into wasting their meager dollars on this Bluegreen garbage, and I'm trying to get them out of it.

We would ALL like to hear back from everyone that defaulted without consequences, but realistically, if someone stops paying and shoves all memory of ever being a TS owner to the back of their mind, they are NOT going to be hanging out at a website that's name is Timeshare USER'S Group.

In your parents case, if their assets are 'meager', and they don't have need for credit, getting a hit of even 50-100 points probably won't affect their life much if at all.

We wish them well.

Jim

 

[GrayFal]

I would like to hear from anyone that stopped paying their maintenance, and what Bluegreen did in response.

If your parents have no loan on the points, they can give away/ sell the ownership, thus avoiding any credit hit.
If there is a loan, that changes things and yes, they will get a ding on the loan

 

[child_of_scammed]

If your parents have no loan on the points, they can give away/ sell the ownership, thus avoiding any credit hit.
If there is a loan, that changes things and yes, they will get a ding on the loan

I don't see why they would give away/sell the ownership, considering the thousands (!!!) of Bluegreen timeshares available for $0 and $1 on various marketplaces. Bluegreen charges a transfer fee as well. For something worth $0 that costs well over $10k in fees a year, it seems that "walking away" is the only reasonable option.

Of course the best option is: NEVER EVER GET INVOLVED WITH BLUEGREEN. EVER.

 

[taureau40]

would love to hear from you , who did not pay the maintenance fees, what happenned??

 

[chriskre]

would love to hear from you , who did not pay the maintenance fees, what happenned??

Well this is my 2nd TS that I have let go that did not have a mortgage.
My first was not a BG and absolutely nothing happened to my credit.
I know people don't believe it but it's true. About 5 years after I first
stopped paying and the creditor calls stopped I received a notice in
the mail that the unit was foreclosed and that was the end of it.
My credit score stayed in the 740's-760s the whole time and I was able
to buy and sell real estate, refinance and buy and sell several cars in
that time.
Again I am letting go a 2nd TS that is a BG and I am on year 2 of not
paying the MF's. The only thing that has happened so far is that they
occasionally call me from Pinnacle Collections and I've received a few
letters stating the balance owed. Interesting enough there are no legal
fees tacked onto the balance but there is a special reserve being added
which of course I'm not planning to pay.
I'm guessing this will play out like my previous ghosting and I'll eventually
get a letter saying that they have taken it back. I tried telling Pinnacle to
do a deed in lieu of foreclosure but they wouldn't hear it so I told them
well then they'll eventually be getting it back one way or another.
Click. LOL

 

[taureau40]

thank you very much for the helpful information

 

[Fido Chuckwagon]

do a deed in lieu of foreclosure but they wouldn't hear it so I told them
well then they'll eventually be getting it back one way or another.
Click. LOL

HOA’S and/or developers who wont take back a fully paid off deed are stupid, greedy, or both.

 

[dioxide45]

HOA’S and/or developers who wont take back a fully paid off deed are stupid, greedy, or both.

They bank on 99% of the people just continuing to pay and not defaulting. Most of the weeks people want out of were hard enough to sell the first time around.

 

[GrayFal]

In the case of BG, for fixed weeks/units at resorts they now manage they have taken back those weeks with no charge to owner.
For points ownerships they now have a buy back program but owner pays 18 months MF.

There is a very active resale market for BG Points - at this time BG is taking back most contracts thru ROFR. But some get thru to buyers. Sellers are getting $0.25, $0.50 and I had one contract sell for $1.00 per point with BG paying me $6,140 for 6,000 point contract.
I am getting better return on my BG contracts than I will get on my Marriott weeks when I sell them.

@chriske and @rapmarks own a unique UDI ownership.
I am shocked that BG would not grab those back like the fixed week /units ownerships because they would generate so many points when BG puts the ownership into the trust. All I can think of is that because of the way they are deeded, they can't be put in the trust so are worthless to BG.

 

[rapmarks]

In the case of BG, for fixed weeks/units at resorts they now manage they have taken back those weeks with no charge to owner.
For points ownerships they now have a buy back program but owner pays 18 months MF.

There is a very active resale market for BG Points - at this time BG is taking back most contracts thru ROFR. But some get thru to buyers. Sellers are getting $0.25, $0.50 and I had one contract sell for $1.00 per point with BG paying me $6,140 for 6,000 point contract.
I am getting better return on my BG contracts than I will get on my Marriott weeks when I sell them.

@chriske and @rapmarks own a unique UDI ownership.
I am shocked that BG would not grab those back like the fixed week /units ownerships because they would generate so many points when BG puts the ownership into the trust. All I can think of is that because of the way they are deeded, they can't be put in the trust so are worthless to BG.

They do sell Udi owners to take points and give up Udi

 

[GrayFal]

They do sell Udi owners to take points and give up Udi

Do you mean BG will buy UDIs ?
@chriske reports I believe that they would not take hers back.

 

[rapmarks]

Do you mean BG will buy UDIs ?
@chriske reports I believe that they would not take hers back.

No they take off your hands when you purchase in vacation club, if you purchase enough