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What if you stop paying for your timeshare? Do they use your house for collateral like a HELOC?
The timeshare will foreclose just like any other deeded property. State law will dictate if a deficiency judgement is allowed. In FL, not allowed. In CA, it’s a one-action state so a lender has to choose non-judicial (fast, but no deficiency judgement) or judicial foreclosure (takes forever, but you can peruse deficiency).
Credit will be trashed and listed as a foreclosure.
This is why you see lots of $1 timeshares on eBay or timeshare swapping sites.
You can actually buy foreclosing timeshares at auction in FL online. Kinda neat (never done it).