How do I Avoid Timeshare Foreclosure?

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  • Written By: Tess C. Taylor
  • Edited By: Bronwyn Harris
  • Last Modified Date: 14 August 2019
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Owning a timeshare means making monthly maintenance fees and paying homeowners association dues and property assessments. However, if you are having trouble making monthly payments for any reason, it may seem tempting to just let it slide, especially if a majority of the loan has been paid already. This is not recommended, as letting a timeshare go into foreclosure status can be very detrimental to a credit rating.

There are ways to avoid timeshare foreclosure and keep your credit in good standing. One of the best methods is to get rid of the timeshare all together by selling it to another investor or back to the homeowners association. This is made easier if you own a timeshare in a desirable location or with a famous resort. In this case, it shouldn’t take long to unload the timeshare.

When trying to avoid letting your timeshare go into foreclosure by the home owners or developers association, sometimes the best approach is to contact the owners directly and let them know you are experiencing difficulties with making the payments. In many cases, the homeowners may have dealt with this before with other investors and can suggest ways you can handle this problem to avoid timeshare foreclosure which is undesirable by both parties. Sometimes they are even willing to assist you with selling the timeshare to another investor who has been asking about buying one.


If you are dealing with a timeshare in a less than desirable locale, consider listing it for a lower price than what you paid for it. Advertise your timeshare with low cost or free online sources and offer to cover some of the transfer costs to get a better response from investors. If you have a timeshare in a warm climate, be sure to post ads in the autumn and winter months when investors are most likely looking for a vacation spot.

The timeshare foreclosure can be avoided by giving it away to someone. Form an agreement with a friend, colleague or family member to give the timeshare to them so that the payments can be taken over by someone else. Your responsibility will be to get a contract drawn up for the transfer of the timeshare and making sure all fees and dues are paid up to date ahead of time. This can be a great way to avoid timeshare foreclosure.

If you can’t sell your timeshare and want to avoid timeshare foreclosure proceedings, consider donating it to non-profit organization and then taking a tax deduction. There are a number of non-profit organizations that accept timeshares in order to raise revenue to support their causes. However, you should make sure that all payments, taxes and home owner association’s dues are up-to-date before donating it.


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