Posted on: 18th Feb, 2010 06:46 pm
I have a deeded TS with Marriott, beautiful but we cannot afford the payment anymore, they will not work with us. What can they do to us besides a collection agency.
Hi overlimit,
If you stop making the payments your timeshare will be foreclosed. However, you can try and sign it over to the timeshare company through a deed in lieu of foreclosure. Do you have any outstanding maintenance fees? The timeshare company can come after you to collect the due amount. However, they cannot come after your primary residence or your personal assets for the foreclosure or deed in lieu on the timeshare.
If you stop making the payments your timeshare will be foreclosed. However, you can try and sign it over to the timeshare company through a deed in lieu of foreclosure. Do you have any outstanding maintenance fees? The timeshare company can come after you to collect the due amount. However, they cannot come after your primary residence or your personal assets for the foreclosure or deed in lieu on the timeshare.
Where is it? do you want to sell it?
