Posted on: 19th Mar, 2009 10:06 pm
How can I get out from under a time share deed. I know there are companies that offer this for thousands of dollars. Can a lawyer help me with this? I want to avoid legal problems with default. I can't continue to pay for the fees that are out of control and going up each year. We did not know that we would be at the mercy of the resort developers for the rest of our lives and then passed on to our children. These shares are worthless and do not sell.
Hi finalturn
I guess you have a mortgage on the timeshare property. As you are facing hardship in paying off the mortgage dues for the timeshare property, you will have to contact the lender and check out the options with him. If you want to sell off the property, you will have to apply for a short sale or a deed in lieu.
The lender will judge your financial situation and then decide whether he would accept your request or not. However, you should note that a short sale or a deed in lieu will adversely affect your credit score.
Thanks.
I guess you have a mortgage on the timeshare property. As you are facing hardship in paying off the mortgage dues for the timeshare property, you will have to contact the lender and check out the options with him. If you want to sell off the property, you will have to apply for a short sale or a deed in lieu.
The lender will judge your financial situation and then decide whether he would accept your request or not. However, you should note that a short sale or a deed in lieu will adversely affect your credit score.
Thanks.