Given that I cannot possibly afford to continue paying a timeshare mortgage and POA monthly fees, what options do I have?
Question Details: Also have a mortgage on my condo that is my primary residence. Obviously did not make a good decision when I bought the timeshare but should have never been given the loan with the information they had.
With owing the mortgage there are less alternatives for you with a time share. You could try and approach the developer's association about deeding back your timeshare to them but it is unlikely that they might do that (like a deed in lieu of foreclosure with real property). Otherwise can you try and sell it? Defaulting will be a nasty mark on your record, so to speak. Or at least rent it to defer the costs for a bit until the market swings? If you owned it out right you could give it away or even donate it to a charity. But the mortgage hampers your choices. Good luck.
