Need Help!

[j_high20 Junior Member Find all posts View Profile Close j_high20]

I bought a timeshare from Orlando's Summer Bay Resorts in 2007 for about $13,000. I get about 65,000 points every two years. My maintenance fees are about $400.00 a year, and my monthly payments are $215.00. I have missed my first monthly payment last month and am up to date with the maintenance fees. I can't afford this anymore so I am looking for a way out. I have tried listing it on ebay and craigslist. I have not been able to sell it on my own. I called the resort hoping they will take it back even if I have to pay some fees just to get this out of my hands. They said this is not an option, pay the full amount or take a hit on my credit. The resort said I can't get it out of my name until it is paid in full. I also been reading about a company called timeshare relief which transfers the timeshare out of my name for a fee. Is this worth it if I am that desperate? If not I am willing to pay someone to get it out of my name. Is there anyone that can tell me if the info I received is correct and what advice can someone with more experience give me. Someone please help.

Thanks.

[Spence Super Moderator Find all posts View Profile Close Spence]

I bought a timeshare from Orlando's Summer Bay Resorts in 2007 for about $13,000. I get about 65,000 points every two years. My maintenance fees are about $400.00 a year, and my monthly payments are $215.00. I have missed my first monthly payment last month and am up to date with the maintenance fees. I can't afford this anymore so I am looking for a way out. I have tried listing it on ebay and craigslist. I have not been able to sell it on my own. I called the resort hoping they will take it back even if I have to pay some fees just to get this out of my hands. They said this is not an option, pay the full amount or take a hit on my credit. The resort said I can't get it out of my name until it is paid in full. I also been reading about a company called timeshare relief which transfers the timeshare out of my name for a fee. Is this worth it if I am that desperate? If not I am willing to pay someone to get it out of my name. Is there anyone that can tell me if the info I received is correct and what advice can someone with more experience give me. Someone please help.

Thanks.

Timeshare Relief and all the other post card companies will only take your timeshare if you pay them $2995 AND it is paid off with all maintenance fees up to date. Unfortunately, there is little for you to do but to pay as you agreed or have the resort foreclose.

[SallyHoover Senior Member Find all posts View Profile Close SallyHoover]

It's a shame you didn't find this site before you bought or when you could rescind. I bought a Summer Bay Orlando package off ebay last year with 75,500 EOY same MF as you pay for $800 total including closing and setting up an RCI points account. They are going for less now.

You are not going to be able to sell it for what you still owe. Renting your week won't help much either. I've seen prime season units renting for less than maintenance fees this year.

If you can avoid foreclosure this site will help you make the best possible use of your points and help you have many great vacations.

[Jya-Ning Silver Contributor Find all posts View Profile Close Jya-Ning]

You need to talk to real estate lawyer about foreclosure it. It will hurt your credit, but TR can not help you since you still has mortgage on it. Make sure you understand what the consequence in your state, and you can decide if that is the only option out.

Jya-Ning

[j_high20 Junior Member Find all posts View Profile Close j_high20]

The timeshare is under my name and my girl. Is there a way to change this and make it only in my name. if so how?