How to get rid of Bluegreen

[user08 Junior Member Find all posts View Profile Close user08]

Does anyone know anybody that that had success getting rid of their timeshare with bluegreen? I am not interested in resposes saying how great bluegreen is and if I just learned to use their points I'd be happy blah blah blah. For some people bluegreen works but I know it isn't in my best interest to keep anymore. So, could someone please just give me a simple answer as to if anyone has gotten rid of bluegreen and the best way to do it? I refuse to go through any company associated with bluegreen as well.

Please just only simple answers to my questions. Find someone else to lecture.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Does anyone know anybody that that had success getting rid of their timeshare with bluegreen? I am not interested in resposes saying how great bluegreen is and if I just learned to use their points I'd be happy blah blah blah. For some people bluegreen works but I know it isn't in my best interest to keep anymore. So, could someone please just give me a simple answer as to if anyone has gotten rid of bluegreen and the best way to do it? I refuse to go through any company associated with bluegreen as well.

Please just only simple answers to my questions. Find someone else to lecture.

I know you are going to thank me so "Your Welcome" ahead of time.

Go to this site and post it as a free timeshare give away - offer to pay the transfer fee.
State how many points, what resort and week/unit size your deeded at - as a resale owner you can only get bonus time at your home resort so it matters if someone is going to take it from you for free.

Someone will probably take it.

Bargain Deals - Timeshare Users Group Online Community Forums

If you are expecting money, forget this advice.
If you owe money on it/mortgage, forget this advice.
End of lecture.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Put it on eBay.

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

Post it on ebay for $1, no reserve.

[user2011 Junior Member Find all posts View Profile Close user2011]

Hi User08,

I'm in the same situation with Bluegreen; however, I need to get rid of it quickly and not sure what is the best way to go to sell it. Can't afford to keep it anymore - I'm trying to save my primary home will be encountering foreclosure rather soon! I'm a single mom with a 7-year old. I certainly do not want to get involved with Pinnacle Vacations as I've heard their commission rates are extremely outrageous. Please let me know if you get any leads. Would greatly appreciate any help as well! Thanks and good luck to you!!

[user2011 Junior Member Find all posts View Profile Close user2011]

Need urgent help in selling Bluegreen timeshare

I'm new to this whole "reselling" of timeshare. I purchased this timeshare about 2 years ago in Branson, MO. I can no longer afford to keep it and am in the midst of losing my primary home. I will be facing foreclosure procedures soon and need the funds to put towards my delinquent mortgage payments.

I'd appreciate any advice/help anyone can offer as to the best way to sell this timeshare. I refuse to pay the high commission rates to Pinnacle for their services in selling the timeshare.

Seeking immediate help!

Thank you!

[aliikai2 Super Moderator Find all posts View Profile Close aliikai2]

I guess you didn't read the previous posts in this thread

As Grayfal stated,

Go to this site and post it as a free timeshare give away - offer to pay the transfer fee.
State how many points, what resort and week/unit size your deeded at - as a resale owner you can only get bonus time at your home resort so it matters if someone is going to take it from you for free.

Someone will probably take it.

Bargain Deals - Timeshare Users Group Online Community Forums

If you are expecting money, forget this advice.
If you owe money on it/mortgage, forget this advice.
End of lecture.

GrayFal
Quote:
Originally Posted by user08 View Post
Does anyone know anybody that that had success getting rid of their timeshare with bluegreen? I am not interested in resposes saying how great bluegreen is and if I just learned to use their points I'd be happy blah blah blah. For some people bluegreen works but I know it isn't in my best interest to keep anymore. So, could someone please just give me a simple answer as to if anyone has gotten rid of bluegreen and the best way to do it? I refuse to go through any company associated with bluegreen as well.

Please just only simple answers to my questions. Find someone else to lecture.
I know you are going to thank me so "Your Welcome" ahead of time.

Go to this site and post it as a free timeshare give away - offer to pay the transfer fee.
State how many points, what resort and week/unit size your deeded at - as a resale owner you can only get bonus time at your home resort so it matters if someone is going to take it from you for free.

Someone will probably take it.

Bargain Deals - Timeshare Users Group Online Community Forums

If you are expecting money, forget this advice.
If you owe money on it/mortgage, forget this advice.
End of lecture.

I'm new to this whole "reselling" of timeshare. I purchased this timeshare about 2 years ago in Branson, MO. I can no longer afford to keep it and am in the midst of losing my primary home. I will be facing foreclosure procedures soon and need the funds to put towards my delinquent mortgage payments.

I'd appreciate any advice/help anyone can offer as to the best way to sell this timeshare. I refuse to pay the high commission rates to Pinnacle for their services in selling the timeshare.

Seeking immediate help!

Thank you!

[stevec Member Find all posts View Profile Close stevec]

Are you trying to get rid of your timeshare?

What options do you have for selling it?

Beside stopping payment or selling, what are the other options?

The first rule when you are selling is: You have to depreciate it from your original purchase price. A little dramatic but it is very important to discount at least 30% (usually 50% is recommended).

Selling a timeshare can be really tough. You will be lucky to sell it for half of what you bought it for.

If you are looking for some ways to get out of your timeshare,you might want to list it on ebay and craigslist which are also cheap.

Here is some research to do before choosing a company to sell your timeshare.

1. Check the BBB report on the company for any negative feedback
2. Have the company provide traffic and offer reports
3. Act like a buyer on search engines and only inquire with easy to find, top ranked companies

So what will happen if you simply stop paying the maintenance fees? The timeshare company will probably sell the debt to a collection agency. This will ruin your credit rating, it will result in legal consequences, and all of the debt collection calls will definately iritate you. The best course of action is to contact the company to whom you owe money, explain your difficulty in paying, that you are trying to sell your timeshare and work out a payment plan that is do-able for you.

What if you haven’t paid the principal off on the timeshare yet, and stop paying? Timeshares are treated equal to real estate in the eyes of the law, and it follows the same rules and regulations as a homeowners deed. Make Sure You Read the Fine Print. Your timeshare can foreclose in the same way as your home if you stop making payments – and this does not just mean payments on the principal balance, it also includes yearly maintenance fees. After your first missed payment, whether it be a monthly payment on the principal balance or your maintenance fees, you will start receiving calls from your timeshare resorts collection company attempting to collect a payment. You will also receive information by mail detailing the amount due, including any applicable late fees, and their intentions on reporting your delinquency to the IRS.

The foreclosure will be visible on your credit history. Lenders will take it into consideration that you didn’t pay a debt before loaning you additional money. You will either not get the new loan or will pay a much higher interest rate. It will be reported as a foreclosure.

The timeshare lender will report the foreclosure to the IRS. They will show the amount of money that was still owed at the time of the foreclosure as well as the value of the property at the time it was sold.

Say you paid $10,000 for the timeshare, had a remaining balance of $8000 and the timeshare is now worth $4000. For tax purposes you have a $4000 non-deductible loss (timeshares are personal use property) and a $4000 cancellation of debt income. If you are not insolvent or bankrupt, the $4000 will be added to your income in the year of the foreclosure as ‘other income.’ (The loan is considered separately from the property so the $4000 loss doesn’t reduce the COD income at all.)

For timeshare owners that own their property outright and simply want to get out their timeshare contract due to no longer traveling or not wanting to pay maintenance fees, the best way to go about obtaining a deed in lieu of foreclosure is to simply stop paying your maintenance fees. Eventually your home owners association (or HOA) will turn your account over to a third-party collection agency that will begin to use the traditional routes of communication including letters, email and phone calls in an attempt to collect the money owed. After this collection firm has used up all of their money-collecting ammunition, and it has been made clear that the owner has no intention of bringing the account current or continuing to pay, they will inform you that your home resort will accept a deed-in-lieu of foreclosure to sever all your ties with the timeshare property.

With regards to your credit in the case of obtaining a deed-in-lieu of foreclosure, your credit should not be greatly affected at all. It is an excellent idea to obtain a written statement from the lawyer preparing the document to state that the lender and/or timeshare resort property owner will not be recording or reporting this deed to credit agencies. Some lenders/property developers will not agree to this, however, so you should at the very least obtain a signed statement acknowledging that any information reported will be accurate – including the fact that there was no delinquency or default if your payments are current. This document should be signed by the parties to whom you are returning the property, and while it is not a guarantee that the deed in lieu of foreclosure will not be reported to credit agencies, it will come in handy if any errors in reporting to FICO occur.

This was the best info That I could find

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

I am confused by an apparent contradiction

Are you trying to get rid of your timeshare? ...

1) So what will happen if you simply stop paying the maintenance fees? The timeshare company will probably sell the debt to a collection agency. This will ruin your credit rating, it will result in legal consequences, and all of the debt collection calls will definitely irritate you. ...

2) For timeshare owners that own their property outright and simply want to get out their timeshare contract due to no longer traveling or not wanting to pay maintenance fees, the best way to go about obtaining a deed in lieu of foreclosure is to simply stop paying your maintenance fees. Eventually your home owners association (or HOA) will turn your account over to a third-party collection agency that will begin to use the traditional routes of communication including letters, email and phone calls in an attempt to collect the money owed. After this collection firm has used up all of their money-collecting ammunition, and it has been made clear that the owner has no intention of bringing the account current or continuing to pay, they will inform you that your home resort will accept a deed-in-lieu of foreclosure to sever all your ties with the timeshare property.

With regards to your credit in the case of obtaining a deed-in-lieu of foreclosure, your credit should not be greatly affected at all. ...

Steve,

There appears to be a contradiction in the above two portions of your message. Both portions deal with stopping paying maintenance fees. In the first portion, you allude to horrible consequences including ruining your credit rating. In the second portion, you say your credit should not be greatly affected at all. But it appears that your credit would already have been ruined by what happens in the first portion.

Please clarify matters for me since I am occasionally asked for advice on these matters.

Charles

[stevec Member Find all posts View Profile Close stevec]

Steve,

There appears to be a contradiction in the above two portions of your message. Both portions deal with stopping paying maintenance fees. In the first portion, you allude to horrible consequences including ruining your credit rating. In the second portion, you say your credit should not be greatly affected at all. But it appears that your credit would already have been ruined by what happens in the first portion.

Please clarify matters for me since I am occasionally asked for advice on these matters.

Charles

It is an article from Timeshare Council|

Under the heading of Popular articles.

As for contradictions read into it whatever you want but here is my best guess.

Obviously BG or any other TS company wants the MF fees paid, depending where you are in your life makes a big difference how these ways of collecting the so called debt affect your circumstances.
Those nearing the end of life have little or nothing to lose as in no major debts house paid for etc.
So you don’t need a good credit rating.

So if you find you are unable to sell, give away, whatever, stopping paying is not the end of the world as long as you follow certain rules.

There is no pain free way.