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Questions about timeshare property foreclose,
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Question: If i let a timeshare property foreclose, it goes back into the resorts
inventory to be resold.
I know they will resell it for more than the balance of my loan is. If they
do this, I am liable
for amy money to them. If not, am they suppose to pay me anything aover and
above mu loan balance. Please let me know...
Thanks
Answer: Well it depends on the contract you signed, read it, the whole thing. It
also depends on what state you are in. Each state has different laws.
I also noticed you asked a question about being lied to and asked if there
is a committee for realtors. Again the rules depend on what state you are
in. In Texas you do not have to have a licenses to sell property if you
work for the company. But in Hawaii you have to have a real estate licenses
plus a special permit to sell time shares.
At worst case you can go tot the BBB and lodge a complaint. You need to
find out if the person who sold you the time share had a real estate license
or not and if they did then go to the state regulation authority.
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