The Timeshare Tourniquet

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

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

sure

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

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, except for a sleazy presentation.

This would be the start of the "JLB Timeshare Securities Class Action Lawsuit". You would start the suit " truthfully" claiming that the developers have debased the resale value of these mortgage backed securities. Mortgage backed securities are regulated under the Dodd Frank Consumer Protection Act and a timeshare is actually a mortgage backed security.

First the suit, then the new regulation. It looks like your going to be busy for a while.

Bill

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

already busy

Just trying to put together one thread on the Internet that might help struggling timeshare owners. Search engines wind up here all the time, every day, every minute. It seems like it would be one a the few logical places to try to help those needing help.

Just one thread with helpful advice from knowledgeable people.

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

Guest 11:08 AM Viewing Thread
Legally ending a timeshare contract with Diamond Resorts

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

They come here for help and advice:

Guest 11:08 AM Viewing Thread
Legally ending a timeshare contract with Diamond Resorts

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

"Of the 600,000 Britons who still own timeshares, 250,000 want to dispose of their investment."

http://www.telegraph.co.uk/finance/p...-for-life.html

"No Way Out - Millions of Timeshare Owners Are Stuck!"

http://voices.yahoo.com/no-way-out-m...633.html?cat=3

"Current info on walking away from a timeshare"

http://www.redweek.com/forums/messages?thread_id=16342

"How to Dump a Vacation Timeshare You Don’t Want"

http://www.blackenterprise.com/money...you-dont-want/

How do I ditch a timeshare? - The Help Desk - CNN

https://www.google.com/#q=what+to+do...+away&start=20


So why is it such a taboo topic with some here???!!!

Do we all have to live in someone's timeshare fantasyland, or can we actually deal with real issues here?

If you love what you own, and don't think that will ever change, what have you got against those who need help, so much so that you have to disrupt their attempts to find help here?

On a forum purporting to be an authority in it's field, why can't there be just one board, or one little thread, talking about the impossible exit?

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

They come here for help and advice:

Guest 11:08 AM Viewing Thread
Legally ending a timeshare contract with Diamond Resorts

You neglected to say that most of them come for the advice and disappear.

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

You neglected to say that most of them come for the advice and disappear.

and . . .

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

Probably not much help but...We have Silver level Diamond deeded/points and are able to use it. We put aside enough monthly to cover the maint fees.
However, our daughter and soon to be ex bought 4000 points in the U.S. collection. Not enough to get much use unless you have the flexibility to use the reduced rate on short notice. He quit paying on the principal and maint fees and quickly found out about the credit rating downside. He has brought it back to currency and is using it right now. There is no easy way to get out of it since there is no resale value on the points. Maybe now that he has brought it up to date, he can try to give it away. We don't really want or need another 4000 points but apparently he could transfer it to us as an option.
Tom

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

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.
- - - - - -
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?

Im pretty sure I answerd your question:

default. Yes there will be consequences, like a lien on your personal residence

Or pay someone to take it, and let them default

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

You neglected to say that most of them come for the advice and disappear.

And why is that?

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

So, for those coming here for advice on what to do with timeshares they no longer need, want, or use, and have tried to give it away, but find they can't, here are the options mentioned thus far to stop of slow the $$$ bleeding:

1. Rent them out.
2. Contact the resort and see if they take deedbacks, either the developer/seller if they are still active or the Association. The weeks must be paid off and all fees current. Be willing to pay a transfer fee.
3. Walk away, default, and be willing to suffer the consequences, such as a credit score ding and a lien on your personal residence (which means you did not get rid of the financial obligation).
4. Give them to someone who is dying. (Looking back, when my dying neighbor asked me to help get rid of his Mexican timeshares, I should have seized the opportunity to get rid of ours.) This option is growing on me, but it obviously would be a tough subject to approach.
5. Contact the Consumer Protection Attorney here: http://www.timeshareforums.com/forum...ction-Attorney

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

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

Although it doesn't do a lot to advance the purpose of this thread, to find remedies, the truth is a good place to start. For most owners, the truth is hard to take.

Anyone who has been involved in timesharing as much, and for as long, as you, and me, and some others here knows that there are some weeks at some timeshares in some locations, that actually have some value in the free market. For a very few, that value could be fairly significant.

But, for what we own, and for what most people own, even though they may be "rated" with fancy terminology, and even though those selling similar stuff may still be using glowing terms to misrepresent their real value, most timeshares are so common, so plentiful in the free market, and conditions are such in the economy, and in the ready availability of reasonable vacation accommodations without ongoing obligation, and in the changing desires and makeup of timeshare owners, that they have no value in the free market. Yes, relative to what is being said when they are being sold, most timeshares are, in fact, substandard.

That is hard for some to accept, but accepting it is the starting point.

It is why only those who are using them find any value in them.

Like most things in life, it is what it is.

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

I have argued on other forums about the value the so called post card companies provide.

I think most timeshares can be sold, or given away or given away with some incentive (like a years maintenance fees paid in advance) But no doubt there are some for which there are no takers....This is where the disposal companies come in, For a sizable fee they will arrange for the transfer of your timeshare to someone else.

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

6. Postcard Companies.