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Fairfield MO Timershare Foreclosure

Posted by Tom on December 09, 2003 at 1:34 PM

Hello;
We have two Fairshare Plus Points timeshare that is to be deeded when paid off, but we can nolonger keep up with the payments and the ever riseing association fees. I have made payments on the property for about two years. I'm about nine months past due and they are pressing me with forclosure. I live in a different state than the resort property. they are wanting me to pay a fee for them to do a deed in lieu of forclosure which is around $5,000.00 I don't have that money.

1. What happens in a foreclosure of this type?

2. What can they do to me? Can they garnish my wages or put a lien on my residence?



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