any suggestions for deed in lieu letter to lender?

[poobert]

We have a timeshare mortgage (1/52 title deed) that hasn't been paid for over a year.  The lender (was the developer/bought out) is offering us a variety of options: 

1.         Payment Arrangements
2.         Settlement
3.         Deed in Lieu of foreclosure (fee involved)
4.         Loan modification (3 month extension) this is option is available if not utilized in the past.

We just want to walk away and sign over the title, but can't afford any payment.  Any suggestions on how to word or write a letter to let them know this?  We already have a chunk of credit in a dmp and live paycheck to paycheck, so there isn't anything available for their "fee involved" offer.  We're perfectly willing to let them spend their money on a foreclosure, but how to make it go faster with a DIL?

Help!

[p-]

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@poobert wrote:

We have a timeshare mortgage (1/52 title deed) that hasn't been paid for over a year.  The lender (was the developer/bought out) is offering us a variety of options: 

1.         Payment Arrangements
2.         Settlement
3.         Deed in Lieu of foreclosure (fee involved)
4.         Loan modification (3 month extension) this is option is available if not utilized in the past.

We just want to walk away and sign over the title, but can't afford any payment.  Any suggestions on how to word or write a letter to let them know this?  We already have a chunk of credit in a dmp and live paycheck to paycheck, so there isn't anything available for their "fee involved" offer.  We're perfectly willing to let them spend their money on a foreclosure, but how to make it go faster with a DIL?

Help!

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I would see what fees are involved with #3.  Timeshares are funny.  If you can't get them to accept the deed, they can sue you for maintenance fees and everything.  If the fee is reasonable it might be worth it to get out.