How can I get rid of timeshare property fast? Is the foreclosure damage the same as on a house?
July 17, 2009 by Timeshare Vacation and Fractional Ownership Tips
Filed under More Timeshares Answers
Can you answer Mikey4u’s question about Timeshares?:
I’m in danger of going into foreclosure on some timeshare property in Florida. Will the credit damage be just as bad as losing a house?
Timeshare Resales By Owner
I’m in danger of going into foreclosure on some timeshare property in Florida. Will the credit damage be just as bad as losing a house?
Timeshare Resales By Owner
Timeshares Feedback: Depends on how the timeshare was sold to you - it could just be an account on your credit that will show delinquent and maybe repossession. Since you only own a portion of the property not the property itself it will not be a foreclosure.
You may see collection activity and this will DAMAGE your credit rating. Try to unload it - then negotiate with the creditor to take a settlement if you are upside down.
Good Luck,