This document from the Timeshare Council provides a detailed analysis of options available to timeshare owners who are unable to make their payments: http://timesharecouncil.net/selling/walk-away-from-a-timeshare/.
Bottom line: In good times and bad, timeshare owners who want “out” generally need to sell their timeshare for less than its original purchase price. As the article notes, selling a timeshare is tough, and you will be lucky if you sell it for half of what you bought it for. Perhaps you may want to reconsider selling your timeshare (albeit at a loss) as a viable strategy to “get out from under.” It is not typical for timeshare owners to make any profit, and holding out for a higher price could just prolong the agony.
If you fail to pay timeshare fees, you will probably be contacted by a collection company followed by foreclosure. The article suggests that if you own the property outright but cannot continue to pay the maintenance fees, you could consider deed-in-lieu of foreclosure, a strategy in which a timeshare owner makes arrangements to surrender the property voluntarily.
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