Quote:
Originally Posted by pauld315
What happen if you just stop paying the maintenance fee ?
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I believe you would have a "lien" placed on the property and eventually can impact your credit score against you. If your property taxes are billed separately ( ie not included with your maintenance fees) and you dont pay them, that would be another lien. Down the road you could end up in foreclosure....Not a Good idea.
YOu say you have tried to sell this property before and you were going to lose money each time......In todays market, it is unlikely you would make any money in seling a timeshare. NOw if you bought this property 35 years ago, hopefully you did not pay $20 or $30,000 for it and you have gotten a good number of years of vacation at the property. (Just trying to find a good tread in a bad story) .
Have you tried going back to the manager of the property and simply asking them if they are buying or at a minimun, could you deed it back to them! They would use it as a rental property.