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LADYLAWYER
LADYLAWYER, Lawyer
Category: Legal
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Experience:  Civil; Family; HOA; Landlord/Tenant; Real Estate; Probate; Insurance; Immigration; Wills & Trusts
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hi lady lawyer ibought a timeshare in 2011 in las vegas. the

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hi lady lawyer ibought a timeshare in 2011 in las vegas. the timeshare is in bush kill pa. I am still paying off the loan. This is in the form of a personal loan so I realize I will have to pay it off. The yearly maintenance fee is $700. Idon't want the timeshare anymore. Can I just stop paying the maintenance fee.Can they seize my house, bank account,et. or will they just take back the week of time I have title too. I don't mind being hassled by a collection agency. Thanks

LADYLAWYER :

Hello there!

LADYLAWYER :

Have you attempted to contact the management/Board and ask if they would accept a deed in lieu of foreclosure?

Customer:

no I haven't done that as yet. I will do so but from what Iv'e seen on the internet these timeshare are not interested in letting p[eople off the hook.Thanks

LADYLAWYER : I have had good success with deeds in lieu in regard to timeshares. In any case, yes, you can stop paying the fees. All they will do is foreclose on the timeshare. You already need to pay the personal loan that you took out in order to secure the deed, but you don't need to worry about them coming after your home for the maintenance fees. They technically could seek a judgment on just the fees instead of a foreclosure, and then seek to levy your account for them, but this just isn't done in practice. Once you quit paying the fees, you can see if they will do a deed in lieu. If they will not do that, then let them foreclose. I have clients that quit paying 3 or 4 years ago and they still haven't been foreclosed upon.
LADYLAWYER : If you have any more quesitons, please just let me know--I am happy to keep assisting you! If not, would you kindly leave me a positive service rating at this time? It will cost you nothing further to do but ensures that the site will compensate me. Thanks so much!
I have had good success with deeds in lieu in regard to timeshares. In any case, yes, you can stop paying the fees. All they will do is foreclose on the timeshare. You already need to pay the personal loan that you took out in order to secure the deed, but you don't need to worry about them coming after your home for the maintenance fees. They technically could seek a judgment on just the fees instead of a foreclosure, and then seek to levy your account for them, but this just isn't done in practice. Once you quit paying the fees, you can see if they will do a deed in lieu. If they will not do that, then let them foreclose. I have clients that quit paying 3 or 4 years ago and they still haven't been foreclosed upon. If you have any more questions, please just let me know--I am happy to keep assisting you! If not, would you kindly leave me a positive service rating at this time? It will cost you nothing further to do but ensures that the site will compensate me. Thanks so much!
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Customer: replied 3 years ago.

Hi Again Lady Lawyer


There are many websites offering to sell your timeshare and others that for a stiff fee will get you out of contract "legally". Have you noted any that really do what they claim or is this a scam as usual. Thanks for the good advise earlier. Robin

Hi! Nice to hear from you again, Robin! I don't personally know of a reputable timeshare resaler I could recommend ( I am usually just writing demand letters and suing the ones that scam people). To resale or rent a timeshare is a hard task, the basic rule is not to pay money up-front, make sure they are members with the BBB or their local Chamber of Commerce and have a good reputation, check online fore reports and scams with their name, and make sure they have high-volumes in resales (ask to see reports).

Also, there are some free classified adds where you can post it and get some results:


http://timeshareownerscommunity.com/
http://craigslist.com
http://ebay.com
http://timesharegateway.com/
http://bidshares.com/

Hope this helps, Robin! Anything else, please just let me know!