Thanks for taking a look at my question. We have/had a HGVC timeshare which we paid in full in 2009. Then in 2012/13 we were unable to pay the maintenance fees and received collection notices etc up to a foreclosure notice with a sale date. Knowing nothing about foreclosure law, I thought I had until the sale date to pay the fees and call off the foreclosure. We called HGVC on Jan.14 to pay the fees up through 2014 and our payment was accepted and a confirmation number given. the sale date we had been given was Jan. 15. Two days later we received a phone call advising us they were returning the money as they had sold the timeshare, and that we paid too late.
I am confused by this. If they are legally in the clear, that they had a right to sell our timeshare even though we paid them the fees, then we will accept it and move on. However if they scammed us or defrauded us, I want to pursue it, mainly because I think they do a lot of very shady things in their business dealings. Our credit is in the hole anyway due to unemployment and disability issues so thats not really my worry at this point.
Thanks for any information you can offer.
typically they need 48 hours or sometimes longer to cancel a foreclosure sale once the date has been set. Calling and making a payment hours before the sale or even a day before the sale does not work. Understand, when you pay with a creditr card, the merchant, in this case the resort does not see the funds for up to 5 business days. During that time, you can call the credit card company and reverse the charge.
When you made your payment it put a pending payment on the account. Since the account was not fully settled, the sale still went through. That is how it works. It takes long periods of time to get a sale date set, which is why they do not cancel them unless they have a fully settled account. They did the right thing and credited you back once they could not get the sale set.
As far as being fully paid, that was true of the mortgage, howevber, the annual maintenance fees become a lien that can be foreclosed if not paid. They foreclosed that lien for the non payment of assessments which according to the above was 2 years old. That is well within their rights.
Sorry, not the news you may want to hear, but they did act well within the law on taking the unit back.