Has anyone experienced a foreclosure on a timeshare. I have a few questions about it.
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Anonymous
ANSWERS: 1
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A foreclosure on a timeshare property works in much the same manner as a foreclosure on a single family residence. The exact laws will vary by State and the lender involved. Likewise, the length of the redemption period may be shorter than for a single family residence. The terms set forth in your original mortgage note may be helpful. Those are found in your original closing package. Here is a good place to research State-specific laws ... http://www.forecloseddreams.com/state_by_state_foreclosure_guide
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