Original Message:
Re: why are timeshares selling for zero dollars??? (by Phil L.):
wiscombe wrote:Why don't people just stop paying the maintenance fee, and let the timeshare be repossessed, or whatever they do in such case? Why do they give some charlatan $3000 to get rid of it?
Because the resort would most likely put this on your credit report plus keep adding interest to the bill and taking all use away from the owner. I have said this before and still not recommending it but with all the people losing homes and jobs and going into bankruptcy I doubt a timeshare fee would be that bad. With the way things are this is probably the best time to walk away if you had to. The down side it will hurt your credit some but also hurt all other owners at your resort.
For people willing to pay these parasites $3500-$4500 to take their timeshare why not offer to pay all fee's and offer $1000 to timeshare forum members. If your throwing your money away try and save some and list this kind of offer and see what happens. Worse thing to happen is no interest and you can still pay these parasites $3500 later.
If you have a decent resort and everything is paid up then some family might figure the $1000 pays one or two years of maintenence fee's. This way they could use it and have few years to try and sell it if they wanted.
There are always idea's out there even though one's like this suck. Bottom line owners want out and have decided to pay some company to take it so now try and save some of your losses and maybe help a family wanting into your resort.
Remember your timeshare still has value if your family just uses it each year and this should have been reason for buying it. People complain about the dollar value but if its now worth ten percent of what you paid should only matter if you were trying to sell it other wise amount just doesn't matter.
PHILL12