So even though you "paid for" the actual real estate and it's just a fee that you aren't able to pay, they can foreclose on that? Sort of like how an HOA can foreclose if you don't pay a fine they assess I suppose?
It has forclosed. I no longer own the property.
So why were you asking then?
If it would affect my future bookings of a disney holiday?
Did you ever really own it???/
No.
They will gladly take your money again. They would also probably sell you DVC again lol.
I think they would gladly sell to you again today. Here is my understanding of how the financing works or at least did work up to a few years back. Disney sells you the points and sets up the loan. They don’t keep the loans, they package a group of loans together and sell to a bank who invests in mortgages. These are basically considered “junk loans” since they are backed by a timeshare which is why the interest rate is higher than a traditional mortgage backed by a home. There’s always a market for almost everything as long as the price is right (and in this case it’s the higher interest rate that makes the loans attractive).
They would probably be extremely likely to sell to you again. With that said, you should never finance DVC. If you can’t afford DVC, then you shouldn’t be buying it because the interest rates on the financing eat any potential savings versus just booking directly through Disney and/or renting points (if any such savings even really exist anymore given current direct prices and the time value of money).
As long as you can easily afford the repayments, preferably being able to overpay, it can be worthwhile.
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