Jul 15

Before You Foreclosure, Get Rid of Your Timeshare

Timeshare Advice 2 Comments »
Timeshare Relief before Foreclosure

Timeshare Relief Before Foreclosure

With the economy continuing to sputter, timeshare owners, like you, may want to consider getting rid of their timeshares in order to save their homes.  Timeshare relief may be the only saving grace between being obligated to pay maintenance fees and special assessments versus keeping homes from foreclosure.

Many people are having a tough time right now because they are struggling with paying their mortgage, the bills, and the ever-rising cost of gasoline among other things.  Others have to contend with layoffs, pay cuts, reduction in benefits or other crises that may result in less disposable income.  We have all heard stories about people – some that we know – who have lost homes due to foreclosures in record numbers.

If you own a timeshare, you may be facing an even tougher uphill battle to get your finances under control.  On top of the other bills that can stack up, you have maintenance fees that you have to pay annually on your timeshare that consistently increase over time.   Incredibly, those maintenance fees may not be the only timeshare fees.  Special assessments can come at any time.  You do not want that crushing financial blow at a time of difficulty.  When you put all that together, it seems that there has never been a better time than now to get rid of your timeshare.   Doing so can cut down on the financial hassle your household may be dealing with right now.

Timeshare Relief can help with this burden.  Just call 1-866-797-0535 to speak to one of our friendly and expert representatives who can tell you more about the Timeshare Relief service.  We can transfer the ownership of your timeshare so that it is no longer in your name, thereby alleviating you of the timeshare fee obligations.

Since you probably financed your timeshare, the best thing to do will be to pay it off quickly to get rid of all those high interest payments.  If you cannot pay it off, at least attempt to transfer the debt to another source, like a credit card or borrow from a friend or family member.  Timeshares with liens on them are next to impossible to dump.

The market is currently flooded with timeshares that don’t have mortgages. It’s hard enough to find a buyer for a timeshare that is currently paid off, so if you have an existing mortgage on the timeshare you will experience great difficulty selling it.

Timeshare Relief can only take timeshares that are completely paid in full.  Clients pay Timeshare Relief a fee for this service.

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Mar 05

How Much Is Your Timeshare Worth? Many Are Below Zero

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Timeshares Resale Value Go Below ZeroFor anyone that has ever bought a new car, we know that sinking feeling we get as the value drops like a rock after we drive it off the dealership parking lot. Once you sign the contract for a timeshare, the impact is as if you bought and drove several new cars off the dealership lot at once. You’re going to lose a lot of value immediately.

A timeshare can lose 40% to 75% of their market value immediately after you sign the contract with the timeshare salesperson. One factor that contributes to the steep drop in value is that the salesperson and the company immediately receive their percentages on commission.

In the short time that it takes for the ink on your contract to dry, the timeshare turns into a notch on the timeshare salesperson’s belt. Immediately considered an asset to the timeshare resort, the clock starts to siphon money from the fresh timeshare owner in the form of maintenance and special assessment fees.

After a while, the timeshare resorts have little incentive to provide upkeep and to upgrade the timeshare. There is a reason for that. The timeshare contract guarantees revenue through all the fees the resorts collect from timeshare owners, so they do not need to bother with improvements. They take this money and use it to build new resorts that guarantee that they can collect even more maintenance fees from new timeshare owners.

As the timeshares age and the maintenance fees increase, there is less desire to purchase a condo unit from that location.  Most potential buyers would prefer new, more modern timeshare units.  At the same time, if the value for the increased maintenance fees paid begin to annoy timeshare owners, how do you think it will affect a potential owner who never vacationed there before?  For many owners, they end up paying for something they don’t use and no one is looking to purchase from them.   So, the value of that timeshare is negative — below zero — it’s taking money away constantly.

Timeshare Relief helps people out of this vicious downward spiral of value and get rid of those timeshares.

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Feb 22

Passing Your Timeshare Debt to Your Children, Will You Or Won’t You

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When you buy a timeshare, one of the sales pitches timeshare salespeople make to entice you is that timeshares can be willed to you children as an inheritance.

After all, they explain, once your children inherit your timeshare they can keep using it to make their own cherished memories during their family vacation trips.  What a great gift to provide the timeshare to the next generation in your will. Your children will treasure it as a keepsake and talk about it being in the family for ages. Salespeople, especially timeshare salespeople, make it sound as if it is one of grandmother’s heirloom broaches or an adored family dog.

They “forget” to mention this part…

The maintenance and special assessment costs on your timeshare will increase. Your children will be stuck paying these rates at a much higher rate than you did.

Many timeshare resorts do not have a good reputation for maintaining the upkeep on the timeshares. Your kids will see a significant decline in quality. What was once a nice resort for you during its prime will be deteriorating once it is passed on to your children.

You are actually creating a financial burden for your children when they inherit a timeshare. They are going to be stuck paying perpetual fees whether they want the timeshare or not.

A better parting present for your children would be to get rid of the timeshare. Your children are grown and can make their own decision regarding their finances and vacation trips.

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Jan 05

Lists Are Great For Groceries, Not For Timeshares

Timeshare Relief No Comments »

Timeshare Relief listingWe hear from thousands of timeshare owners every month at Timeshare Relief.  One of the most prevalent ways timeshare owners quickly lose money when they are trying to get rid of their timeshare is to pay a “listing company” to try and sell their timeshare.  Listing companies only “list” a timeshare for sale but hardly do any promoting of the timeshare to sell.

So, a timeshare owner who uses their services pays hundreds of dollars (usually priced somewhere between $499 to $899) for a short description of the timeshare and a sales price.  It’s like a simple classified ad.  This would be fine if there were buyers, but as we know, there are very few buyers out there.  Even more disappointing, the listing is usually one of thousands of timeshares being sold.  Who can tell the difference between timeshare units?

One popular timeshare listing company currently has 39,000+ unwanted timeshares listed on their website. And this is just ONE timeshare listing company! If this isn’t proof of just how flooded the timeshare resale market is with unwanted units then I don’t what is.

Many listing companies set up under the category of timeshare resales company.  Some are even real estate brokers.  Described in this way, these listing companies appear to many timeshare owners as a simple way of selling their timeshare, much like selling a house or conventional real estate.  However, owners are disappointed once they discover that the only responsibility of the listing company is to list the timeshare for sale, not actually to market and sell it.

Some states now have laws that require listing companies to explicitly explain to timeshare owners the exact service that will be provided – listing versus active selling.  Also, there are numerous warnings about paying any upfront cost to a company WITHOUT THE GUARANTEE OF SELLING IT, so the number of timeshare owners falling for this timeshare trap is decreasing.  (Please keep in mind that Timeshare Relief guarantees it timeshare transfer service.)

Our advice to timeshare owners: save your money, time and sanity.  AVOID the listing companies if you wish to get rid of your timeshare.

If you choose to learn more about the timeshare industry and more about the Timeshare Relief service, feel free to contact our offices at 1-866-797-0535, or head to the homepage of this website, http://www.timesharerelief360.com and fill in your contact information.  One of our friendly advocates can help you.

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Aug 25

Can a Timeshare Owner Use EBay To Get Rid of Their Timeshare?

Timeshare Advice 2 Comments »

One method that some timeshare owners try in order to get rid of their timeshare(s) is the online auction. The most famous of these online auction houses is of course, eBay.

You’ll see throughout the internet that EVERYONE tells timeshare owners to NOT pay anything upfront, yet even eBay has an upfront cost that can range from $35 to $300 depending upon the duration of your advertisement. They also have a Final Value Fee if your timeshare does indeed sell.

The point here is that you need to do your homework if you decide to try to sell your timeshare via auction, advertising or resale company or agent. Blanket statements and generalizations are ok shortcuts for protection but you’ll end up keeping your timeshare for a long time waiting for the perfect deal.

But if you take a look at some of the completed sales, you’ll see hundreds of timeshares that do NOT sell for $1 or even some for $0.01. Yes, there are a few that go for a thousand or two, but those are quite rare and most are brand names that sold for $30,000 or more at the original point of sale. They are also the most desirable timeshares out there.

For many timeshare owners, their timeshare will not fall into this category. So, unless you have the option to go with a service like Timeshare Relief, just be prepared to pay some money upfront and simply wait. Then, again, you might want to spend that money on lottery tickets, the odds might be better.

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