Original Message:
ask-redweek-wyndham-ovation-help-owners-get-out (by Mary L.):
My husband and I purchased our time share in Destin last January, and it was the worse decision we ever made. We are in our 70's and had just retired when we were offered a free week to listen to the presentations. We really had no intention to buy because we were unsure of living on a fixed income of Social Security and STRS.. The manager at the time was very delightful and she miraculously was able to find a timeshare in inventory that we thought we could afford at the time. My husband was approved for a VISa Card of $10,000 that wouldn't cost us anything at the time. Based on our income and debt ratio I have no idea how we were even approved. I guess we were so vulnerable and excited to be retired that we didn't look ahead to the financial burden this Time Share would incur on us. We visit Destin every spring, so I guess our thoughts were that we spend the money anyway renting in Destin every year so why not have something to show for it and leave our children.Not only is it next to impossible to find availability in Destin during the times we want, but we also cannot afford it. The $586.00 a month payment is 20% of our monthly retirement income. At the time we purchased, we had some money in the bank but we didn't realize the expenses of moving and living on a fixed income. We just cannot afford this Time Share, and it is not what we expected for our life style and destination goals.I did read above that this Ovation program is designed for people that have already paid their mortgage, and we do not meet this criteria. This time share has cost us $10,000 which we are paying through another loan and I have paid $6,000 for the year in mortgage and monthly maintenance fees. Is there something we can do based on our age and the financial burden it has on our monthly cost of living expenses? PLEASE PLEASE HELP