The pain is rarely the price on the day you sat in the presentation. It is the bill that arrives every year, and the year it jumps.
That bill is often several obligations stapled together:
- Maintenance or HOA dues for the resort or the association
- Club dues for the points program that sits on top of a resort
- Taxes
- A special assessment for a renovation, a storm, or a reserve the association did not fund
- A loan payment for the purchase or for an upgrade, which is a lender’s debt and not the association’s
An exit that resolves the club and leaves the loan, or pays off the loan and leaves the dues, has not ended the timeshare. It has ended one of the envelopes.
Stopping payment
Default is a fact with consequences: collections, a credit report entry, foreclosure of a deeded interest, a deficiency if there is a loan, and a developer who is less interested in offering a clean release. Some owners are already in that position when they call. The review starts from where the file actually is, not from a slogan about “just stop paying.”
This site will not tell you to stop. A written release that names your interest comes first. A lawyer you hire can talk with you about hardship. A webpage should not.
Assessments
A special assessment is a clue. It tells you the resort’s finances are under strain, which sometimes makes an association or developer more willing to take an interest back, and sometimes does the opposite because they need the dues. It is a fact for the review, not a strategy by itself.
Bring the last two statements. The line items are the map.