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Re: Getting rid of your timeshare (by R P.):

rayf50 wrote:

I have read over CHT website and followed the enormous amount of energy jayjay has spent trying to diminish CHT claims. Sure I’m skeptical of these claims and had hoped to find folks that have tried CHT with success. I’m also one that wants to unload my deeded fixed week 3BR lock off unit with Westgate Lakes. However, post after post it seems that rather than help the reader by commenting on things that are helpful, I read jayjay’s posts pointing out things that don’t match the process listed by CHT and his website. It would be far more helpful to stick to the facts stated and rebuttal only those so that folks can make better decisions. I could care less about the tax write-off… Here is what I have read and what I’m looking for “constructive” feedback The closing companies CHT lists are indeed rated A with BBB.org. If the money is not handed over until the deed is transferred than how is one “out the money”? If the deed is not transferred then the money is returned. One can use their own closing company if desired. I keep reading repeated posts from jayjay that you would be out the money but have missed how if no money is given up front. If closing company does not transfer then money until the deed is transferred then am I not protected? I also keep reading that CHT holds onto the property for 36 months allowing the property to default. If at closing time (36 months prior) I am legally released from the deed, then why would I care? So long as I’m released from the deed. I have read not one person state that they have tried CHT and have been taken. I’ve not found one mention on the web that CHT has scammed them. What would be helpful is if someone could point to any article that one has been scammed. Until then, I simply feel jayjay is being opinionated with no evidence. Having said this it would be even more helpful if I could find ANY positive referenced that someone has used CHT with success and can back his claims that the deed was indeed recorded out of his name before the next tax bill came. I would have no problems using CHT if this were made available. I’m watching garym480 closely and if he’s successful I plan to see if he’ll allow me to call him directly with some suggestions that would prove his claim. Mainly to eliminate if he’s indeed not just a DRk14's alias. (no offence garym480, I’m just being skeptical but truly appreciate your offing positive feedback as this is hard to come by) If garym480’s successful, I too will start the process and list my feedback here… good or bad. Ray

The main negative with CHT and similar organizations are the lies they tell people such as the donater (timeshare owner) can write off $5000 on their income taxes. What they don't tell you is that the IRS will recognize fair market value ONLY .... which if you GIVE CHT your timeshare then the fair market value would be zero ($0). The IRS will catch the $5000 deduction and come after you many years later demanding that you pay back the $5000 deduction along with interest and penalties.

Another negative about entities such as CHT are that they keep the timeshare for 36 months forcing the resort to foreclose leaving other owners responsible for taking up the slack with increased maintenance fees. Also, many resorts are catching onto these scams and are refusing to honor such transfers to whatever entity the scammers are using.

You say if you are relieved of your ownership that you don't care about the other owners having to take up your slack. If you are a business owner then I certainly wouldn't want to do business with someone like YOU. My guess is that you would be the type to find a way to rid yourself of any debts you owe by whatever means you find necessary.

You say there is no upfront fee involved .... there is a $500 upfront fee plus the closing company fee to these type scammers AND your timeshare will still be in YOUR NAME.