Anyone familiar with DR foreclosure proceedings in Hawaii?

I purchased a time share in 2006 with The Point in Poipu when it was Sunterra. Since Diamond has taken over, the MF this year are $2200. I can no longer afford to pay monthly payments or the maintenance fee. I still owe $20k on the loan. Does anyone know if Diamond Resorts would seek a Judicial or Non Judicial Foreclosure. I am afraid that they would come after me for a deficiency judgement.

As anyone experienced a foreclosure with DR in Hawaii?

Helen M.

helenm120 wrote:
I purchased a time share in 2006 with The Point in Poipu when it was Sunterra. Since Diamond has taken over, the MF this year are $2200. I can no longer afford to pay monthly payments or the maintenance fee. I still owe $20k on the loan. Does anyone know if Diamond Resorts would seek a Judicial or Non Judicial Foreclosure. I am afraid that they would come after me for a deficiency judgement.
As anyone experienced a foreclosure with DR in Hawaii?

I feel your pain, but you have a double whammy on your hands ..... first you owe 20K on the loan and you also owe maintenance fees. If both become deliquent then they will come after you tooth and nail and it will definitely be a negative hit to your credit.

The best advice I can give is to try to rent out your unit to recover some fees or let it go into foreclosure. It will affect your credit rating for 7 years .... then you start all over with a clean slate.

The above is the 'sign of the times' in this economy.

R P.