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Westgate "Legacy" program... (by Lance C.):

robertc1852 wrote:

Publicly, they, along with several other companies, have cited these companies as a contributing factor to a much higher default rate.

They are entitled to their opinion as is everyone else including me but I don't think these so-called "exit" companies contribute to a higher default rate. People are defaulting because they own something that is of negative value and can't sell or give it away unless they give the new owner some "incentive". The "exit" companies are there because owners are looking to get out from their timeshares but, up until recent years, the resorts and timeshare companies in general were not willing to help out.

As was pointed out several times before on these boards, Westgate and others (Diamond, Wyndham, etc.) are initiating their respective deed back programs because it is easier for them to take units back directly from owners than it is for them to deal with these "exit" companies. As much as many people criticize timeshare companies, this is actually a pretty shrewd move on the companies' part.