Florida Timeshare Foreclosure Law

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Florida contains one-quarter of all of the timeshares in the US. Because of the high concentration of timeshare resorts in FL, the legislature felt it necessary to pass a bill to help timeshare owners struggling with timeshare debt. In response to challenges being faced by Home Owners Associations and lenders due to a high number of owners being unable to afford their payments, the Trustee Foreclosure Bill was created. The Trustee Foreclosure Bill will reduce the time and cost for timeshare owners paying late and struggling financially because of maintenance fees. This bill was created with the aim of... Read the rest of this entry »

Timeshare Foreclosures and Your Credit Score


Timeshare ForeclosureIf you have exhausted all of your other options for getting rid of your timeshare including selling on the web, auctions sites like eBay and Craigslist, donation to charity, and giving it away, a timeshare foreclosure may be your only option.  The time share foreclosure process is somewhat similar to a home foreclosure, in that eventually the property will eventually be returned to the lender and sold at a sheriff's auction to the highest bidder.  Being armed with information, and knowing how this process can affect you and your... Read the rest of this entry »

Deed in Lieu of Foreclosure for Timeshare


Mountains in CanadaWhether you are facing timeshare foreclosure, or are looking for a way to get rid of an unwanted time share, a deed in-lieu of foreclosure can be a great option to get rid of your timeshare obligation. It is important to note that a deed in lieu of can usually only be (easily) obtained by an owner that has already paid off the principal balance of the property, whose only remaining financial obligations are yearly/monthly maintenance fees. If you still owe money on... Read the rest of this entry »