Selling my Bluegreen timeshare with outstanding loan

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

Hello,
I'm in search of advice. I'm trying to figure out if its worth it to sell my timeshare. I currently have 6,000 points annually and many points left over from last year. Plus at this rate, we wont be using any this year. My family just doesn't vacation the way we wanted to when we first purchased. I love that the timeshare offers flexibility but my husbands job in the military does not with his recent promotion. We still owe and would rather put the money that we are paying into other things that we will actually use. What are the chances of selling the timeshare for what we owe? I don't care about making money off the sale, I just don't want to be paying for it anymore. Any advice would be greatly appreciated.


EDIT. Changed title of thread to reflect content -GrayFal

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

Also would be willing to consider refinancing if thats even an option?

[Glitter Brunello Super Moderator Find all posts View Profile Close Glitter Brunello]

How much do you owe?

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

11K, we've owned it a year and a half.

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

Not knowing what timeshare you own, we can't say if you could resell it for 11k, but unless it's one of the best of the best, you will probably be unable to sell it for that much or even half of that. Refinancing could also be a problem.

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

Unfortunately you will not bee able to sell with a mortgage.
If you can take a home equity loan and pay if off then you would be able to give it away.

Unfortunately, these 6K contracts are not valuable on the resale market.

Your best bet if you can not refinance to get out from under the loan is to try and use it yourself or make a good reservation at a nice resort at a popular time and rent it to cover a small amount of your expenses.

Sorry for this bad news.


And to anyone reading this thread, NEVER finance a timeshare, if you can't pay cash for it, you don't need it.

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

Not knowing what timeshare you own, we can't say if you could resell it for 11k, but unless it's one of the best of the best, you will probably be unable to sell it for that much or even half of that. Refinancing could also be a problem.

Tony, it is 6,000 annual Bluegreen points...it is worth practically nothing on the resale market

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

Didn't check the forum name. In a rusg getting ready for next trip.

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

Didn't check the forum name. In a rush getting ready for next trip.

Enjoy!

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Have you tried to give it back?

Any qualms about just walking away from it?

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

Have you tried to give it back?

Any qualms about just walking away from it?

As JLB is aware, Bluegreen will not take back your unit.

And please ignore his comment regarding. " just walking away".
As a young family, this would ruin your credit for many years to come.


Sent from my iPhone using Tapatalk

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

As JLB is aware, Bluegreen will not take back your unit.

And please ignore his comment regarding. " just walking away".
As a young family, this would ruin your credit for many years to come.


Sent from my iPhone using Tapatalk

Or maybe not

http://www.marketwatch.com/story/fin...res-2014-09-16

I kid!!

dont walk away.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

How is that someone is aware of what I'm unaware of? I was not aware of that.

But, today, at golf, I am aware that a few hundred property owners have walked away from their properties.

In my previous post, I just threw it out, to get it on the table, as it is an option timeshare owners are "resorting" to, as a last "resort". (funny how the same word can be both fun and inviting, and not so fun and inviting)

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

How is that someone is aware of what I'm unaware of? I was not aware of that.

But, today, at golf, I am aware that a few hundred property owners have walked away from their properties.

In my previous post, I just threw it out, to get it on the table, as it is an option timeshare owners are "resorting" to, as a last "resort". (funny how the same word can be both fun and inviting, and not so fun and inviting)

Jim, you certainly are aware of what you are saying....this is your new way of diverting every thread....from what the original poster is asking.

If they were dead beats and going to walk away because they did not care about their credit or the responsibility of the contract they signed, they would not be posting here asking for advice.

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

How is that someone is aware of what I'm unaware of? I was not aware of that.

But, today, at golf, I am aware that a few hundred property owners have walked away from their properties.

In my previous post, I just threw it out, to get it on the table, as it is an option timeshare owners are "resorting" to, as a last "resort". (funny how the same word can be both fun and inviting, and not so fun and inviting)

So now you are suggesting for others to walk away when you've been saying all this time how dishonest anyone who did this was?
What happened? Did you finally have a change of heart? Did you finally walk away?

OP, sorry that this news is so disappointing and probably not what you wanted to hear, but we can help you
possibly learn to enjoy what you own in a manner consistent with military life.
Did you know that RCI has rentals for military families in nice resorts at discounts?
https://www.afvclub.com

Welcome to the forum.
Hope you stick around.
And thank you for your service.