Time-Shares/deed in lieu of
QUESTION: We have a timeshare that is paid for, and we are current on our maintenance fees. We no longer want this timeshare. If we give other back with a deed in lieu of, will it hurt our credit?
ANSWER: since you are not behind, it should not affect credit, however, the resort is the only one that can tell you if they report to the credit bureau. But since it is still current, there was nothing to report..............
---------- FOLLOW-UP ----------
QUESTION: The timeshare is in Georgia, and the resort told us they would not accept our deed back. Can they legally not take it back, since it is in good standing?
Yes, they are under no legal obligation to take back your timeshare. If all you are looking for is to give it away, I would suggest the following
1. Post an ad with Timesharing today
2. Post an ad on my resort network. (Myresortnetwork.com)
3. Post an ad at Redweeks.com
Do the listing as free, maybe offer to pay for reasonable deed preparation
Lastly, you can list it on eBay with a starting price of $1.00
Hope that helps