Has anyone Foreclosed on their Timeshare?

[FloridaGuy Member Find all posts View Profile Close FloridaGuy]

It seems like more of a hassle to donate of sell a TS for a dollar than to keep it and not knowing if it is actually transferred or having to pay any associated selling fees.

Has anyone just given up and refused to pay the maintenance and taxes after full ownership?

From what I researched it will to a collections agency and you will get a drop in your credit rating of 300 points for 7 years.

Do they come after you and try to sue you for the money?

Or can you walk away and lose the "equity" in the property by not paying fees and eventually not own it?

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Depends on how everyone acts. There are maintenance fees and there are real estate taxes, so 2 entities (3 if it's still financed) can foreclose and come after you. The reasonable course of action is to give the week back to the timeshare HOA and some will let you do that- if you are current and there may be an additional fee involved. Generally, it is cheaper and less uncertain than dealing with post card companies and many of the "donation" groups and there's no drop in the credit rating.