What happens if I stop paying Maintenance Fees or dues?
The developer might sue you for the unpaid maintenance fees. They will then attach a default judgment to your personal property to collect any past unpaid maintenance fees, court costs, and attorneys fees.
Also, when in foreclosure, the outstanding mortgage balance plus the unpaid maintenance fees are often higher than the timeshare’s value, which creates a deficiency. Then lenders can go after your other assets.
Are there any caps on maintenance fee increases?
Unfortunately, no. Most of the time, HOAs conduct a vote, but the developer holds a controlling interest and votes to override.
Can I still terminate my timeshare if I still owe on my mortgage?
Does the timeshare go to my kids or the estate?
Why are there no reviews at the BBB?
Can I sell it?
For this reason, the Better Business Bureau warns about timeshare reselling scams that defraud victims out of thousands of dollars. Don’t fall for it!
If I sell it and take a loss, is it tax deductible?
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