Deed in lieu of foreclo

[BLD57]

What is the name of your state (only U.S. law ?) We have a timeshare in Georgia but we live in Massachusetts. We have not been paying and they sent us paperwork for a deed in lieu of foreclosure. They stated that we will be free and clear of any owed money. They so said that it will be cleared from our credit report. Is this true? It was hard to understand the papers.

 

[Ohiogal]

What is the name of your state (only U.S. law ?) We have a timeshare in Georgia but we live in Massachusetts. We have not been paying and they sent us paperwork for a deed in lieu of foreclosure. They stated that we will be free and clear of any owed money. They so said that it will be cleared from our credit report. Is this true? It was hard to understand the papers.

It will be on your credit report that you haven't paid. But you should not owe any more money towards the timeshare.

 

[latigo]

What is the name of your state (only U.S. law ?) We have a timeshare in Georgia but we live in Massachusetts. We have not been paying and they sent us paperwork for a deed in lieu of foreclosure. They stated that we will be free and clear of any owed money. They so said that it will be cleared from our credit report. Is this true? .

If that is what they said, then it is true that they said it. Take "the hard to understand paperwork" to your attorney and be advised.