Question by Luke: Can not paying on my Vacation Club Timeshare legally be a foreclosure?
The company is located in Florida, but the timeshare is in Missouri. Can not paying on a timeshare in a vacation club type deal be reported on my credit legally as a foreclosure?
Best answer:
Answer by Lesley
Yes, they can foreclose on your property (that being your ownership in the time share). However, due to how hard it is to sell a timeshare, you may have an easier time negotiating your way out of the situation. You need to call your timeshare company to see what you can do. If you aren’t currently behind, you might want to look into trying to sell it, but it won’t be easy.
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You can just hand the time share over to the company explaining hardship in a letter to them.