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

donp196 wrote:

Jayjay the problem I see is that the industry has to come up with an exit plan for people who can no longer afford to keep paying maintenance fees and in some cases huge assessments. I think the timeshare industry is going to implode if they don't do something soon. There is way too much inventory on sites like redweek. Just like the housing market it will eventually collapse.

Don, in my opinion, the timeshare industry has already imploded and it will never be the same as pre-2007. I really can't fathom why many resorts haven't completely shut down (a few have) .... many must be staying open on an apron string with so many defaults and the PCC's $1 timeshares on Ebay plus fake charities and LLCs.

I don't know how many resorts are currently run by developers but I estimate very few .... mainly the mini point systems. The vast majority of resorts are run by HOA's .... if they accepted every deedback that they were offered then this would be the end of the timeshare industry as we knew it pre-2007 .... maintenance fees are the bread and butter of any resort and without them the resorts would ruin in decay, however with most resorts the developer is long gone and has made his money. It's the HOAs that's having to carry the burden.

HOA's are a loyal bunch and they serve without pay to the best of their ability to see that their resort is maintained to owners' standards.

I don't know what the answer is ..... but resorts taking all deedbacks for whatever reason would be the end of the timeshare industry .... what would they do with the inventory?