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Relinquishing ownership is only rarely so easy... (by R P.):

phill12 wrote:

Ken, I wonder after all this time and the falling prices of timeshares if things are changing? More resorts might decide to go for this offer rather than try paying foreclosure cost and the time to try and stop what they probably consider a dead beat owner at this point. At this point there is a very good chance the owners will not pay and only other option for the resort is not letting owner use the unit until paid up which will not happen. At least if they take it back they can try and resell it.

I just don't see other options for the resort if they are planning on staying open. They need the cash flow to run and with so many dead beat owners there is no income to the resort. PHILL12

That's a good idea Phil .... even if the resorts have to practically give the deadbeat units away they would still receive yearly maintenance fees from the new owners, which is the resort's bread and butter.

I know this one thing, something is going to have to change if most timeshare resorts are to remain open in the future, however I'm surprised that the majority of timeshare resorts haven't gone under before now due to unpaid maintenance fees .... they have to be cutting all kinds of services.