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Need help getting out of Bluegreen, please.
Ok, I've been researching for a few months. A lot on here, so decided to join to get a few more specific answers. Heres my situation.
Bluegreen deed in PA 6,000 EOY, Charter w/Unlimited bonus nights(points). Purchased in Branson 6/17/11 for Approx. $8,500. Did not pay anything down, right now We have about $4000 on Bluegreen card and $3,000 approx. financed through Bluegreen. Just payed Maint. fees. When we purchased, I think they said it was a deedback or something. I cannot afford this anymore due to financial reasons. I have done lots of research on potential ways to relieve myself from this.
1. Should I call Bluegreen themselves or Branson (where bought) and ask them to do a deedback? Or do anything to take it back.
2. Is a deed in lieu the same as mentioned above? Should I try this route?
3. From what I have read donating is not much of an option since I owe on it, is this correct? Or should I at least call and try w/out paying money upfront.
4. Default or Foreclose, are these relatively the same? Right now my wife and I are both on the deed. Before I do any of the options, I plan on doing a "deed of transfer" or what not to get her name completely off the ownership. She has nothing bad on her report, and I want to keep it that way. I personally don't care if my credit would take a big hit from this. I also am aware that Bluegreen could still sue me for any difference that I owe, or would owe after they sell it.
5. Sell it or transfer ownership if anyone is interested here?
I am trying to think of more options, I have done so much reading over the past few days I may have forgotten something. Any help would be greatly appreciated. What steps should I take first? What would be the quickest and simplest way to rid myself of this debt? I can't tell ya'll how much I appreciate the help. Thank you!
Bluegreen deed in PA 6,000 EOY, Charter w/Unlimited bonus nights(points). Purchased in Branson 6/17/11 for Approx. $8,500. Did not pay anything down, right now We have about $4000 on Bluegreen card and $3,000 approx. financed through Bluegreen. Just payed Maint. fees. When we purchased, I think they said it was a deedback or something. I cannot afford this anymore due to financial reasons. I have done lots of research on potential ways to relieve myself from this.
1. Should I call Bluegreen themselves or Branson (where bought) and ask them to do a deedback? Or do anything to take it back.
2. Is a deed in lieu the same as mentioned above? Should I try this route?
3. From what I have read donating is not much of an option since I owe on it, is this correct? Or should I at least call and try w/out paying money upfront.
4. Default or Foreclose, are these relatively the same? Right now my wife and I are both on the deed. Before I do any of the options, I plan on doing a "deed of transfer" or what not to get her name completely off the ownership. She has nothing bad on her report, and I want to keep it that way. I personally don't care if my credit would take a big hit from this. I also am aware that Bluegreen could still sue me for any difference that I owe, or would owe after they sell it.
5. Sell it or transfer ownership if anyone is interested here?
I am trying to think of more options, I have done so much reading over the past few days I may have forgotten something. Any help would be greatly appreciated. What steps should I take first? What would be the quickest and simplest way to rid myself of this debt? I can't tell ya'll how much I appreciate the help. Thank you!
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