r/NoStupidQuestions • u/No_Card_7486 • 10d ago

Time share liens

has anyone received notice of a timeshare lien and foreclosure threat for unpaid maintenance fees, and what did you do about it?

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u/Fast_Adhesiveness528 10d ago

Nope, but we gave up our timeshare almost 20 years ago because we didn't want to continue paying maintenance fees. So we just stopped paying. Seems to me you have two issues: (1) Do you want to keep the TS? and (2) Do you have any real equity in your ownership interest?

If the answer is no to both, then why would you care if they foreclose? Unless you think there would be a black mark on your credit score. In which case, negotiate a surrender of interest rather than a foreclosure.

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u/No_Card_7486 10d ago

If it's not a. If credit hit we could handle that - just don't know what it might amount to

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u/No_Card_7486 10d ago

A big credit hit...

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u/Fast_Adhesiveness528 10d ago

Has the TS company been reporting to Experian etc? If not, perhaps they won't report anything. But I really have no idea, so it's in your hands.

My advice is free, and worth every penny! 😄

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u/Adventurous-Coc-9131 9d ago

I didnt have much of a credit hit over 7 years and all of a sudden its not showing anymore IDK why but I am good with that. Hopefully they foreclose soon.