The lawyer in Newark that can make timeshares disappear

My friend has an Orange Lake week that she hasn't paid the MFs on for two years. She was going to sign up with a lawyer in Newark, NJ, one who specializes in Timeshare sales, to rid herself of this timeshare.

All she needed to pay was $4000 and she would NOT have to pay the two years worth of maintenance fees that were in arrears. AND she would be permanently out of her timeshare.

She kept on insisting he was a lawyer and knew what he was talking about.

I, of course, told it was a BIG scam. Thoughts??

sounds like shes already well behind in the payments...where does she own? what did they say when she asked to surrender her interval back to them?

4000 bucks to save a few points on your credit rating seems like alot, especially since she clearly already has no intention of paying anymore either way?

TUGBrian said:

sounds like shes already well behind in the payments...where does she own? what did they say when she asked to surrender her interval back to them?

4000 bucks to save a few points on your credit rating seems like alot, especially since she clearly already has no intention of paying anymore either way?

Click to expand...

Her timeshare is Orange Lakes in Orlando. I told her to pay the 2 years worth maintenance fees and then to give it away.

Do you know if Orange Lakes is taking timeshares back? The owner is actually my friend's sister, I only met her this weekend at a funeral, so I don't know if she tried to get the resort to take it back.

Even if OL agreed to take it back wouldn't she still need to pay those maintenance fees?

Orange Lake does not take timeshares back. MF are around $850-$1200 depending on the sections. If it is a week 7-14 or 25-32 or week 51 2 br or larger she should be able to give it away paying 1 years MF's plus closing costs. If it is a week 52 2br or larger she should be able to give it away for nothing or just paying closing. If it is a smaller unit or a 2 br or larger unit during other weeks, 2 years of MF's plus closing would probably do it but may not. For example a week 40ish studio with MF's of around $875 is going to be very hard to give away. Orange Lake has fixed weeks and in some sections MF's are the same regardless of size, with only the tax portion varying.

Since she is in arrears for 2 years plus some late fees I would imagine, it would probably take close to $4000 if not more to give it away unless she had some specific weeks.

One problem is that even if she pays the $4000 does she really have a guarantee that she will owe nothing more and the TS will be transferred out of her name without any more damage to her credit than has already been done.

While they don't take back weeks in general she may be able to negotiate a deed in Lieu and may have less to pay in negotiating directly than by using the lawyer.

tschwa2 said:

One problem is that even if she pays the $4000 does she really have a guarantee that she will owe nothing more and the TS will be transferred out of her name without any more damage to her credit than has already been done.

Click to expand...

This is the problem. If the money is up front and not in a real escrow with assurances then the answer is no. Not saying this one is a total and complete scam but there are more people out there that paid $4k and still owned the timeshare than there are that had success. Never a good idea.

I've heard that Orange Lake will take it back if its paid up with no balance.
It is not broadcast of coarse , but it can be done. I hear you have to be persistent .

I think at this point it probably makes sense that she walk away. She is so far in arrears that this won't mess up her credit anymore than it already is messed up. I am not usually in favor of doing this kind of thing but it seems she is out of options.

id explain that situation to the resort(ie that shes not paying anymore)...its still in their best interest to obtain the week/deed back with her assistance...than going thru the foreclosure process.