I cannot afford my timeshare. What will happen legally if I default on the loan?

I have 287,000 points with Fairfield. With the property week I traded in and the $10,000 down, I still own $20,000 plus the $117 a month maintenance fee. I will retire in two years and won't be able to make the payments on the reduce income. I am willing to surrender my title and return the deeded week to Fairfield. Is this possible?