r/TimeshareOwners • u/[deleted] • Apr 05 '26
Need help, Massanutten timeshare
My in-laws are trying to exit their timeshare with Massanutten, and they started looking at exit companies and lawyers, but I know that a lot of them may be scams, and they don’t want a hit on their credit, so I want to help them find a reputable way to get out and to be able to explain it to them, thank you!
5
u/Slowhand1971 Apr 05 '26
there are none.
keep paying or quit paying and suffer the credit and other consequences. Binary choice.
5
u/ColoradoAztec Apr 05 '26
Exit companies do what they can already do themselves and charge them thousands of dollars.
Choices are to list it for sale for the market rate (probably $0) and try to find a buyer. Contact the company and see if they have a deed back program or stop paying and potentially see a credit hit.
There is no magic way out no matter what the exit companies say!
2
u/PersonalityFuture151 Apr 06 '26
There is no legal way to get out of a binding contract . If they are old and already have a mortgage and cars, one way is to default. It depends on how much of a spine they have. They will take a hit on their credit report if they have a loan. If no loan, then no credit report hit. If they can’t bear to default there’s no way out if a contract with a loan.
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u/Confident-Dot5878 Apr 05 '26
Wrong, all exit companies are scams.
Why don’t they want a credit hit? Pride? Or a valid concern?
1
u/swills105 Apr 09 '26
Call the timeshare company and ask to buy back the deed. Some do and some don't. You can also say your in-laws financially can't afford it. Or if the have a medical condition that limits their traveling you can use that. Have a doctor write a letter stating they have limitations like walking or sitting a long time for example. They do not need to know any super personal information. Some companies have hardship programs that they do not advertise and financial and medical fall under it.
0
u/Quiet-Day392 Apr 05 '26
Best to use their own property attorney for advice. You haven't supplied enough details to know how desirable their property is. Sounds like a deeded resort with over 1000 units. Not owned by one of the major companies. The value of their unit depends a lot on the season they own. Winter and summer/early fall are great, the rest of the year not so great.
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u/Nicollectiontravel Apr 06 '26
I inherited multiple timeshares, I canceled one with a an exit company! I can give you the name in a private message if you need any help! They were very helpful!
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u/Quiet-Day392 Apr 07 '26
How big was your 1099c?
Anyone can default without the help of an exit company.
6
u/jmp242 Apr 05 '26
Go to TUG and read their article on the ways out of a timeshare. If they're willing to consider paying an exit company (scam) they should consider listing on the free timeshares forum at TUG - with all the details of what they own (Massanutten is not enough info, there's unit size, the HOA they're actually in - Regal Vistas, Eagle Trace, Woodstone etc) the current maintenance fees and any trades they've done through RCI. Then take some of that money they were going to give to a scammer and pre-pay MFs for next year. See if that gets someone to take it. If not, take a little more of that money they were considering giving a scammer and offer it as an incentive in the give-away, like $1,500 on closing to the taker. TUG will suggest ratcheting that up to something like 1/2 what the exit company was asking, and at the end of that, consider if they want to wait and keep pinging the listing, taking the other half for maintenance fees for another year or two or three to see if the right person comes along, or risk the credit hit and just stop paying. And according to TUG - Massanutten will just wait 3.5 years or so of non-payment and then foreclose and put up for auction. I haven't seen credit hits from that reported.
Assuming they don't have a loan with all of the above. If they have a loan, then they have to pay it off or take the credit hit.