Effect of Timeshare Relief Team, Timeshare Exit Team, etc. advertising on the for-sale-by-owner resale market

wizowashv wrote:

...this "might" explain the problems that TSET has stated they've been running into with the exit of my monarch grand vacation from Diamond.

I think it's much more likely that Diamond (like many other timeshare companies) just completely ignores any and all input or contact received from non-owners --- such as any and every parasitic "exit / relief / escape / rescue" outfit that exists. Think about it; why would any timeshare company even bother with non-owners?

As with any industry, there are Timeshare Exit scams out there. After speaking with some people we met on vacation in Branson a couple of years ago (and kept in touch with) we were referred TLS (Timeshare Legal Service in Branson, Mo.) We did one of their free consultations and we took advantage of a mortgage elimination program that went into effect within a few weeks of our signing up for the program. We owed Bluegreen almost $14,000, plus our fees of around $2200 a year. We paid 1 more monthly installment payment on the mortgage and then we were told to stop making payments. After that we never heard anything else from the resort about being late, foreclosed on or collections threats. Then we got a letter saying we were no longer owners. No negative credit reports, no collection calls or letters. Nothing. It did cost us to get out of our timeshare but I'm glad we did it before we paid $14k plus yearly MFs only to find out that NOTHING we were promised during the "Owner Update" meeting (which was actually just a high pressure sales presentation) was actually true. Our friends that had done an upgrade told us their experience and it sounded very much like what we were going thru- never can stay where we owned (Big Cedar Wilderness Club) Fees go up EVERY YEAR, plus some people getting "special assessments (up to $3000 for whatever reason!) It's just a money trap! I regret ever going to the 1st presentation. The free tickets were offered definately were not free! It's impossible to sell your TS, the renting out doesn't even cover the fees! Thank God we didn't pay off the rest of the mortgage! We didn't even know about the cancellation period or the maintenance fees going up. We understood it would only go up a very small amount every year. So we are expecting like $25 a year increase. Not the case. Also, the interest rate is NOT 15-20%, the APR is but the actual interest was just under or just OVER 99%! We finance $18,000. If we would have paid it off, it would have cost us $38,000.00 total in mortgage payments! How is this legal???

I am not quite sure what to make of the above post (or its' math), which makes references to both a specific "resort" and to "Bluegreen" (which is primarily a points based system). Nonetheless, it is my firm belief that ALL, I repeat ALL, upfront fee "exit / relief / escape/ rescue" outfits are just parasitic (and expensive --- and completely ineffective) scams perpetrated upon people who are desperate to somehow magically escape a contractual obligation into which they once voluntarily entered of their own free will and choice.

Voluntarily signing a contract creates associated legal obligations. While anyone can choose to "breach" a contract anytime they wish, it is naive to think or to believe that there would somehow be no consequences for doing so.

After defaulting on a loan, it takes some time before a negative credit report "hit" appears on a person's credit report (and then remains there for the next 7 years), but it is simply not credible that defaulting on a $18,000 loan balance would ever occur with no consequences whatsoever, as if by magic. Personally, I don't believe in "magic", but YMMV.

Frankly, the above post seems to me to be nothing more than a not-very-subtle ad for some alleged "magical exit" outfit in Missouri, but anyone is certainly free to believe whatever they choose to believe --- even if perhaps at their peril.

bonniep182 wrote:

...we were referred TLS (Timeshare Legal Service in Branson, Mo.) We did one of their free consultations and we took advantage of a mortgage elimination program... It did cost us to get out of our timeshare but I'm glad we did it... If we would have paid it off, it would have cost us $38,000.00 total in mortgage payments!

Out of curiosity, what DID the Timeshare Legal Service in Branson cost you to get out of your timeshare?

I totally agree. The concept is good but it's not regulated enough to stop sales companies taking your money up front to sell your timeshare and never doing it. It should be like a house sale, payment for selling is taken by the lawyer from the sales proceeds once the sale is completed and the remaining funds sent to the seller. The timeshare industry has been allowed to seriously damage itself and Government should impose laws to control those companies who sell it.

Many timeshare developers (DRI, Wyndham, Westgate, et al) now offer "deedback" programs, which helps to make the "exit" parasites less relevant and (hopefully) much less attractive to people desperate to be rid of their timeshares. Some developers charge a fee for "deedbacks" (Wyndham doesn't), but any such fees are always just a small fraction of what the parasitic, completely ineffective so-called "exit" companies charge to accomplish absolutely nothing.

Many (but not all) independent (non-"chain") timeshare HOA's will also accept "deedbacks", if / when specifically asked to do so. Smart HOA's understand and realize that accepting a "deedback" is better in the long run than enduring years of an owner not paying their maintenance fees, ultimately forcing the HOA to foreclose after years of unpaid fees.

No timeshare owner, no matter how desperate, should EVER consider paying ANY so-called "exit" parasite outfit. Period, amen. Throwing money at these parasites is not going to result in successfully getting rid of an ownership or its' financial obligations. Instead, if the unwanted timeshare has no real market value and cannot be sold, the owner should attempt to just give away the unwanted timeshare for free and / or energetically pursue a "deedback".

Paying ANY "exit" parasite outfit only proves the old adage to be true that "A fool and his money are soon parted".