Donnac, Home Owner in New York

Timeshare in Orlando

Asked by Donnac, New York Sun Apr 1, 2012

..I was served with forclosure papers on my Hilton timeshare in florida. I owe 3500 and that would pay up the whole note. Im not able to make this payment until i receive my bonue first week in June.

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Debra (Debbie) Rose’s answer
just curious - how long have you owned the timeshare, and have you made use of it every year?

also curious to know if you planned to buy it ahead of time, or was it an impulsive purchase and you were enticed by the salesperson after listening to their 90 min sales pitch?
0 votes Thank Flag Link Sun Apr 1, 2012
We did use the timeshare every year then I lost my job and fell behind. Whats really bothering me is that I have paid 10000 dollars I hate to loose that when all I need is 3000 to pay it in full (i have 1000) in bank. Is hilton the financing company or is it someone else??
Flag Mon Apr 2, 2012
You need to do something about your timeshare since they can affect your credit score if you are delinquent on payments. try and find a resolution with them immediately.
0 votes Thank Flag Link Wed Jun 20, 2012
Give the lender a call. The foreclosure process takes 2 years, so if they just started the process, then you have plenty of time.

That of course assumes you want to keep it. Throwing good money after bad comes to mind as an appropriate adage for timeshares.
0 votes Thank Flag Link Mon Apr 2, 2012

Alain is exactly right on this one!
0 votes Thank Flag Link Sun Apr 1, 2012
I would call the lender and ask to talk to their loss mitigation department and see if you can work something out. Ask them what your options are.
0 votes Thank Flag Link Sun Apr 1, 2012
Spoke to Hilton they said they are not working with me. Should I call whoever is actually financing the loan or does the Hilton finance the loan?
Flag Sun Apr 1, 2012
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