The Timeshare Tourniquet

[easyrider Senior Member Find all posts View Profile Close easyrider]

I have been culling my timeshares to the point I only have what works for me. What works for me are timeshare systems with multiple location reservations available included in the membership enabling me to reserve a resort with high rent demand or a place I would like to go. In other words, I will never buy a deeded one resort contract ever again.

Even though some think it might be scammy or unrighteous to dump their obligation I would have to say that timeshare dumping is the norm when all other ways fail to unburden a person from this unwanted obligation. Consider any contract that is for life. There are ways out. Why are timeshare contract not given this consideration ? There should be legislation that provides relief to people that own paid up contracts that want out, imo.

There is your new project JLB. Sponsor a bill for timeshare relief and when it passes you can feel good about dumping your timeshares as it would be legal. Oh, but wait a minute, transferring a ts to an older person so that the obligation dies with them is legal. Placing your assets in a trust and keeping the ts's as personal property to be foreclosed on is legal. Going bankrupt or transferring your ts to someone that is about to go bankrupt is legal.

So it seems death or insolvency are two means of disposing of your unwanted ts's when there is nothing left. I recently sold my last deeded one location timeshare and felt bad that the new owner will soon realize that they are stuck with this. So really, who should you feel bad for, the resort hoa or the new sucker ?

Bill

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

60% is way too much for the resort rental commission. My resort takes 25%.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Agree with the last two.

I don't set the policies and I can't change them, but I have considered approaching legislators about regulations, since what's on the books are from a time long gone. I have discovered there is no way to approach them as a group, so it would involve sending individual emails to all of them, looking for a consumer protectionist with a conscience. Quite a lot to ask of a politician.

I have previously had enough correspondence with the FL AG to know that they would never consider action against the "legitimate" industry, some of whom are the main cause of many timeshare problems, and certainly the cause of the Timeshare Trap.

The way one of our resorts has treated us (Fine kettle of Fish), makes dumping those weeks almost sensible, sane, and above-board. The catch is, and it always seem like there's one, is that it is the one here, where I own for golf (that I might need some time in the future when I don't golf where I do now), and I know beaucoup people there, and no one can just let things go. One of those weeks is already held by our LLC.

Anyway, the way the lady on the board treated me, it is almost as if she was inviting us to just walk away. Her words were something like, "You can do whatever you want with your weeks." That after she explained the resale company referred to in the letter they finally sent was for association weeks.

But, then, if I dumped them, there'd probably be a lien on our house.

Just last night, at a social gathering of people from that community, another owner stuck with three weeks asked me how I was going to get rid of them. Longtime timeshare owner I met on that other site, and his words were, "Biggest scam there ever was."

[JustLooking4TheBeach Junior Member Find all posts View Profile Close JustLooking4TheBeach]

Fixed vs Points

I find that it is easier to make a decent profit with points based system. Most rentals are less than a week. FL, VA, AZ, CA, and Spain have all been good places to rent. A fixed week in a high demand location can work such as summer weeks at VA beach.

Stephen

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I find that it is easier to make a decent profit with points based system. Most rentals are less than a week. FL, VA, AZ, CA, and Spain have all been good places to rent. A fixed week in a high demand location can work such as summer weeks at VA beach.

Stephen

Seems like I am prying stuff outta ya.

Where/what do you own?

What kind of fees do you have and what kind of rental income are you getting?

If for some reason you don't want to give specifics, say because of the Internet Kiss of Death, I understand. Many of us here have talked about stuff on forums over the last 20 years that changed when we did.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Agree with the last two.

I don't set the policies and I can't change them, but I have considered approaching legislators about regulations, since what's on the books are from a time long gone. I have discovered there is no way to approach them as a group, so it would involve sending individual emails to all of them, looking for a consumer protectionist with a conscience. Quite a lot to ask of a politician.

"

Why don't you start a petition here and see where it goes?
Apparently it's working for other causes.
Maybe you'll finally serve that kettle of fish to some legislator.

https://www.change.org/about

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

we digress

http://www.change.org/search?utf8=%E...&commit=Search

From the very first listing:

So many people bought timeshares in good faith, using them and paying all fees. Then came a day when (for a variety of reasons) they could no longer use them. They tried to sell or give them away. Even charities won't take them. The organization won't take back the deed, so it can resell it. So these owners have 2 choices: pay rapidly increasing maintenanc fees for life. Or face collection, have their credit damaged and be threatened with court action.

Which merely brings is back to where we already were . . . what to do next????

[ronparise Senior Member Find all posts View Profile Close ronparise]

we digress

http://www.change.org/search?utf8=%E...&commit=Search

From the very first listing:

So many people bought timeshares in good faith, using them and paying all fees. Then came a day when (for a variety of reasons) they could no longer use them. They tried to sell or give them away. Even charities won't take them. The organization won't take back the deed, so it can resell it. So these owners have 2 choices: pay rapidly increasing maintenanc fees for life. Or face collection, have their credit damaged and be threatened with court action.

Which merely brings is back to where we already were . . . what to do next????

How to dispose of a timeshare you no longer use? The easy answer is just sell it.... I know: easier said than done. if it is really impossible to sell and the hoa refuses to take it back....force their hand; just stop paying the maintenance fees. I know the hoa's will often refuse to take it back, but they tend to change their mind when you stop paying. Worst case they will foreclose. ie they take it back...Are their other consequences? sure, probably a ding on your credit/

I could share all my rental strategies but, if what you are trying to get rid of, is really something that wont sell, it probably wont rent either.

[bnoble Senior Member Find all posts View Profile Close bnoble]

Sigh.

This is the song that never ends
It just goes on and on my friends
Some people started singing it not knowing what it was,
And they'll continue singing it forever just because...

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

How to dispose of a timeshare you no longer use? The easy answer is just sell it.... I know: easier said than done. if it is really impossible to sell and the hoa refuses to take it back....force their hand; just stop paying the maintenance fees. I know the hoa's will often refuse to take it back, but they tend to change their mind when you stop paying. Worst case they will foreclose. ie they take it back...Are their other consequences? sure, probably a ding on your credit/

I could share all my rental strategies but, if what you are trying to get rid of, is really something that wont sell, it probably wont rent either.

I've mentioned it before . . . at the resort where I have a good relationship with the head of the HOA, he has told me they get a judgment and put a lien on the defaulted personal residences. Funny about that, since we bought two of our weeks there from the association.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Sigh.

So sorry, Your Honor.

Is there already a thread that tries to help owners who have already tried everything they can, or is this forum just for timeshare lovers?

[easyrider Senior Member Find all posts View Profile Close easyrider]

Which merely brings is back to where we already were . . . what to do next????

Create the " JLB Timeshare Consumer Protection Act " or what ever suites you. The protection would be a regulation that protects a person from ts maintenance fee's and ts ownership by requiring developers to take back unwanted timeshares. There would need to be requirements to also protect the developers such as a take back fee and only allowing contracts that are paid in full to be considered.

Im certain this would be very popular with many owners who are now to old to do anything with their paid mf.

Bill

[tonyg Goomba & Super Moderator Find all posts View Profile Close tonyg]

Would that act protect one from his constant whining about his inability to dispose of his sub-standard timeshares ?

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Would that act protect one from his constant whining about his inability to dispose of his sub-standard timeshares ?

Of course not. He'd be grandfathered in.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Something like that, in a form to suite the industry would not have been a bad thing to have had in place all along.

"If at any time you decide that you do not want your timeshare any longer, provided that you have paid us the $25,000 in full, and all your fees are current, we will take it back, for free, plus a transfer fee not to exceed $500 per week, so we can sell it again, or keep it to rent out, or anything we want. In the event we are no longer in business, we will designate an organization to do that."

I realize that the industry likely never considered the possibility that most timeshares might one day be valueless in the resale market and thus reveal the distruth of claims made in order to sell them. But, there is no uncertainty that there is no concern for loyal owners when their time is up.

See ya. Nice to have you along for the ride while it lasted.



In the meantime, with the real market determining real value, the industry goes on in make-believe land, selling for thousands of dollars stuff that could not be given away, not without a sleazy presentation.

Y'all can say whatever you want about me, and you do, but you know that's how it really is. It's just that we're a little ahead of your schedules.
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Now, to help those who may be coming to this forum, say through a search engine, how about getting back to some constructive ideas???

What can owners do after they have exhausted their attempts to unload unwanted timeshares, and have failed?