Consequences of Defaulting on Maintenance fees

Ive gotten good use of my timeshare but now with lifestyle changes have no need for it. It is fully paid and deeded property and Id like to just stop paying maintenance, especially since I am now unemployed and have no income. Anyone go through this and what were the consequences?

First contact your home resort and ask to talk to someone that handles your situation. Explain to them that you can no longer afford the fees and that you are going to get rid of your timeshare with or without their assistance. Ask them to take the timeshare back through a " deed back ". Explain to them that it is in their interest to take it back rather than spend thousands in legal fees and lost maintenance fees and possibly years of delays. I gave two timeshares back through deed backs and it is quick an inexpensive as long as you are up to date on your maintenance fees. Good luck and let us know if it works for you.

leslieg186 wrote:

Ive gotten good use of my timeshare but now with lifestyle changes have no need for it. It is fully paid and deeded property and Id like to just stop paying maintenance, especially since I am now unemployed and have no income. Anyone go through this and what were the consequences?

The problem here is that you signed a legally binding contract to buy your timeshare and the resort may or may not take it back .... it's worth a try, however be aware that if you default on your maintenance fees the resort can (and probably will) legally come after you for non-payment. If all resorts took deed backs for whatever reason (ie: tired of paying maintenance fees, no need for it any longer etc) they would implode from within due to overwhelming defaults.

I would suggest you trying to give it away on timeshare ad sites such as Redweek's Bargain Resales here: http://www.redweek.com/featured/bargain-timeshare-resales