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Re: Instead of kids paying to unload TS, can parents "will" it to Obama?

jayjay - we agree! I am totally with you in regard that the TS developers need to clean up their industry. However, if you read all the letter and the associated report by Ernst and Young I don't believe that's what they're trying to do. In fact they are lobbying to maintain the status quo whereby they can conduct "tours" and then complete "same day" sales complete with their rediculously high prices and interest rates. It's partly why they can afford the deed backs. As far as "walking away" goes - it worked very well for me with ABSOLUTELY no effect on my credit (exactly as stated in the ARDA letter), and the same is true for many others who were stuck with Westgate. I realise that this may not be the case for everyone, but ARDA do claim it to be correct and there are many developers whose names are listed in the letter including Hilton and Wyndham.