What happens when my timeshare I still owe on gets foreclosed?
I know it will badley affect my credit, but can they sue me for the difference between what I owe and what they can sell it for? Do timeshares get auction off? Can they garnish my wages, will I be able to keep my condo? What happens if I never pay the difference owed? I’ve read alot on the internet but haven’t seen anything from someone who actually went through with the foreclosure. BTW I own a points system, Lawrance Welk in San Diego.
Related posts:
- Is there a difference timeshare points from wyndahm and resale?
- How do you sell a timeshare with RCI Points?
- Can a lien be placed on my home if my timeshare is foreclosed on?
- how can i go about selling a timeshare that I still owe on?
Tagged with: foreclose • Sell • Timeshare info
Filed under: Selling Timeshare
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http://diylegalinfo.com/lawsuit_Links.html has help on how to file a civila lawsuit, class action lawsuit, and how to file a lawsuit or sue someone.
Yes since you took a mortgage to buy that timeshare the lender can and will sue for the difference.
They can attempt all avenues of collection. Freeze your bank accounts, garnishee your wages and as a last resort put a lien on your primary residence
I was in your situation but considered foreclosure as a way to get out of my timeshare. I realized that that wasn’t for sure a good way to go. So I took a cash advance on my credit card and paid it off and made monthly payments to my credit card. I then made the MISTAKE of paying a company called Vacation Register hundreds of dollars to "sell" my timeshare, but they’re all rip offs. I just found a company that named IA Vacations that would buy my timeshare if it was worth anything. It wasn’t, but he said I could pay $600 to get out of my timeshare for good, no more maintenance fees, no more ties at all! I was skeptical, but this guy was really nice and helpful and I took a leap of faith. His name is Robbie Pickel and you can reach him at (866) 660-3009. Good luck getting out of your timeshare and spread the word about how horrible timeshares are so more good people don’t get screwed like you and me.