Original Message:
Deedback / foreclosure / collections (by KC):
wizowashv wrote:Question - if I don't pay, my fees for say 2 years, diamond would foreclose and wouldn't that have repercussions eg. credit rating etc? Would they come after me through a collection agency or something?
Generally speaking, *if* there is no unpaid loan balance / default, there are rarely any credit report repercussions from a timeshare foreclosure initiated solely because of unpaid maintenance fees. Defaulting on a loan, however, is virtually guaranteed to result in a negative credit report.
Yes, there would very likely be some third party collection agency calls for a while, but those people usually give up quickly if / when it is very clearly communicated to them that "I'm done here and I'm simply never paying another penny --- so go right ahead and do as you wish".
Two years is not a time frame engraved in stone before foreclosure is initiated; it depends upon individual company or HOA practices. Almost never would it be any sooner than two years, it might be three years, but only very rarely would any company / developer / HOA wait four years before initiating foreclosure.
If your maintenance fees are up to date as you have indicated, I'd recommend contacting Diamond directly (and soon) to pursue a "deedback". The money that you unwisely sent to those parasites at Timeshare Exit Team was clearly wasted and is now gone forever, I am very sorry to say.