Wall Street Journal Feature on Timeshare Troubles

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.

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A few notes from the video:

[ad#readmore]The average cost for maintenance fees is around $730 per year, which has been steadily increasing year to year. Travel is a luxury, and one that most people are not able to allocate a lot of time and... Read the rest of this entry »

Why is the government doing nothing about timeshare scams?

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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 of a two bedroom apartment?

This is outrageous.

If I ever go back to Florida and are approached by a time share salesman I will sit next to the salesman and take my sweet time reading all the pages of... Read the rest of this entry »

Donating Timeshare to a Non-Profit

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A reader who is affiliated with a non-profit organization shares their experience with accepting timeshare as a donation.

This is an important read for any timeshare owner, and provides a great deal of insight into issues surrounding increasing maintenance fees and stopping payment.

"I am affiliated with a non-profit organization. We received a timeshare donation week from an individual, not truly knowing what we were getting into.

Our first year the maintenance fees were increased by 20% without our consent. We reluctantly paid the bill, and one of our board members enjoyed the vacation week.

The... Read the rest of this entry »