Tweet
What are the ramifications for not paying yearly maintenance fees? I know until the fees are paid, use of points not allowed. Do the fees accumulate year after year and how long would that be allowed? I do not owe anything for the points I have, but am not using them.
-
-
A goog answer is : what would happen if you stopped paying for your house? -
As Bing points out, they're the same as defaulting on most loans. You won't lose the house you're living on, but you'll have to deal with a collection company and, ultimately, it will have a negative impact on your credit score.
If you are not using your points, do you know anyone you could rent them to? If you can rent to friends or acquaintances, you can offer them the many options BG has. Some people have also had success renting a particular unit then advertising on the 'net or (if there's a BG resort not too far from where you live) in the local market, either through the paper or by posting on of those ads where you can tear off the phone number on local bulletin boards at their church or store or work.
Those who seem to have the best luck renting Bluegreen are those who like to use BG themselves; if you've been telling people how bad BG is or don't really like it, it's more of a challenge to sell others on it. But if you once valued it and now are not enjoying it, perhaps you could share it with others who WOULD enjoy it, and thereby make back your maintenance fees.
If you have paid off any initial loan, you could also sell it. You most likely won't make a profit, but then you wouldn't be facing the yearly fees, either.
Best of luck.
Comment
Comment