Paid timeshare in full $20,000.00 but got foreclosed when I lost my job

I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

yasming wrote:

I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

Sorry to have to inform you, but Westgate owes you no refund for your paid up week since you signed a legal contract to buy that week.

yasming wrote:

I owned a timeshare with Westgate lakes resort in Florida. I paid it in full but after I lost my job, I could not keep up with the maintenance fees. I have already been foreclosed on a couple of years ago but my question is, does west gate owe me any money since the property was paid in full?

Did you get any notices before they foreclosed on you? You should have received plenty of notices first.

If so, what did you do or how did you respond?

Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

vickw2 wrote:

Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

Have you thought about trying to sell of give it away first?

vickw2 wrote:

Can you tell me how the foreclosure affected your credit? I keep wondering how big a hit I would take if I stop paying the maintenance fee for my TS...

If your resort chooses to report you to the credit rating agencies for non payment of maintenance fees then your credit will take a hit.

If your week is paid for then you can choose to get in contact with the resort and ask if they'll take it back ..... some do but most won't.

Hello I ended my timeshare with westgate in 2020 . I applied for an apartment and they did a credit check and told me I have $15,000 balance on mortgage . I was rejected from the apartment and now Iam homeless . How can I fix this ? I don’t owe timeshare and I was told it’s on my credit score as in foreclosure and it doesn’t have a sell date so nothing can be done . Iam clueless

teeg11 wrote:

Hello I ended my timeshare with westgate in 2020. I applied for an apartment and they did a credit check and told me I have $15,000 balance on mortgage . I was rejected from the apartment and now I am homeless . How can I fix this ? I don’t owe timeshare and I was told it’s on my credit score as in foreclosure and it doesn’t have a sell date so nothing can be done . I am clueless

It's not at all clear (...not to me, anyhow) what you mean by "ended my timeshare with Westgate in 2020". You cannot unilaterally "end" any contractual obligation without the direct involvement and agreement of the other party to the contractual obligation.

If you stopped paying on an associated loan for that timeshare (and / or simply ceased paying the timeshare maintenance fees), you did not "end" anything in any legal sense; you merely stopped meeting your contractual obligations. Is the $15k figure that you reference above perhaps the unpaid balance on a loan / mortgage that you agreed to in purchasing the timeshare? If so, there is little you can do now, after defaulting on that loan obligation. If that credit report entry is not correct, you should formally dispute the accuracy of that particular credit report entry by directly contacting the credit reporting agencies (Experian, TransUnion, etc.) to get any erroneous information in their records resolved and corrected.

Good luck.