Posted on: 30th Nov, 2009 06:46 am
I still owe many thousands on a timeshare and wnat to get rid of it. How do I do that?
Hi katevalenziano,
If you walk away from the property, then it would be foreclosed by the lender. This will badly effect your credit and you will be liable for the deficient amount resulting from the sale of the property. I would suggest you to contact your lender and apply for a deed in lieu of foreclosure. You won't be responsible for the deficient amount if the lender accepts your request for a deed in lieu.
Thanks
If you walk away from the property, then it would be foreclosed by the lender. This will badly effect your credit and you will be liable for the deficient amount resulting from the sale of the property. I would suggest you to contact your lender and apply for a deed in lieu of foreclosure. You won't be responsible for the deficient amount if the lender accepts your request for a deed in lieu.
Thanks
by all means contact the development in which you have this timeshare. they'll be happy to take the unit back and re-sell it to someone for far more than you paid, and far more than you owe at this time.
