The Wall Street Journal recently (April 2012) aired a video about the difficulty of selling timeshares. According to the WSJ, an estimated 50% of owners are behind on their payments. A few notes from the video:
Timeshare owners are not owners, they are suckers. The Carlsbad Timeshare has been a nightmare of an investment. Since inheriting it we have tried to sell it, bank it, and exchange it and this year we tried to rent it to no avail. The literature makes it sound like there is all this flexibility, but…
One visitor to our site shares his experience with Silverleaf timeshare, and the research she did following the timeshare purchase. Here’s her story: I bought two units from Silverleaf in 2010. In both sales presentations the salespeople told me the units were an investment I could realize income from, and would be a great business…
As this Australian reader points out, the tickets are not really “free”: We arrived on Monday 13th June 2011 and promised “free” show tickets and lunch if we attend a presentation and showing of a Luxury Resort, which we foolishy accepted as Show Tickets were very Expensive. We were picked up and taken to GrandView…
Read one owner’s experience with buying a Sedpma Pines Timeshare: When I bought my time share at Sedpma Pines, RCI assured me that availability was not a problem because only members of the program can access the timeshares. I have since learned that availability is a serious problem, RCI engages in the practice of skimming…
We bought this TS in 2003 and have been paying on it regularly except maintenance fees. In 2009, we received sporadic bills for maintenance fees. I called to get a payoff and was told they were written off. Never could get hold of the timeshare comapny. Did not receive any letter or calls. Never received…
When we bought they talked us into buying in March, which was red and cheaper then the month we wanted (which was August – also red). We paid close to 20,000 dollars. The salesman promised us that every year we will be able to exchange for August the month we actually wanted. It was ok…
The following experience was shared via a reader of our website, and is an account of both their stay at the Luxor hotel and their timeshare presentation at the Grandview Las Vegas Our experience was a total joke. This must be the most unprofessional bunch of Dorsal Fins we have ever met. Here is my…
Does anyone have experience stopping payment on ResortCom Timeshare, specifically the Veilla Del Palmar Resort? A reader of our site posed the following question about foreclosing on ResortCom timeshare: My husband and I purchased a time share several years ago and are still paying on the outrageous balance plus maintenance fees. We have recently found…
A reader poses an interesting question he wanted to share with our readers: Why is the government doing nothing about timeshare scams? Time shares are not real estate or investments, they are nothing but empty space. In addition to my first question, how many time share owners does it take to keep up the maintenance…
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