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NEED TO RETURN TIMESHARE
However, and having said that, I've read that "some" resorts do accept deedbacks but they are few and far between, and those resorts require a couple years of maintenance fees to be paid before they'll take it back.
R P.
Last edited by jayjay on Aug 07, 2011 09:41 AM
The writer closed the "Timesharing Today" article by saying "I hope I have explained the options. You will get feedback saying 'no, you can't do that' " The writer says "we have, check it out". He does not provide any deed recordation information that would enable one to verify that he has actually successfully exercised the options listed. It was a mistake to publish the article.
Carvan A.
lancec13 wrote:You are likely entirely correct, but do bear in mind that Timesharing Today is nothing but a (very limited distribution) magazine, essentially run by one man; the content of which consists largely of unsolicited "contributions" (...and ads) from the hinterland. Those "contributions" (...like many RedWeek forum "contributions" here) are replete with personal opinion and may or may not actually reflect much actual knowledge or "expertise". Accordingly, EVERYTHING within that publication really should be taken with a grain of salt.I get this feeling that TST magazine is going to be getting a number of angry letters from readers for publishing an article that encourages owners, who want to dump their timeshare, to stop paying maintenance fees.
I have subscribed to TST for a number of years (and still do) but I harbor no delusions that there is much knowledge or expertise (or even much content of actual substance) contained therein. I maintain the subscription mostly for the front page industry articles and updates --- and the entertainment value of reading the assorted (and often humorous) reported gripes and grumbles.
KC
Last edited by ken1193 on Aug 08, 2011 06:03 AM
I previously thought the article was a 'letter to the editor' .... I didn't realize it was an article that TST published from some unknown individual that probably doesn't know diddly about timesharing .... TST used to be a timesharing advocate site but seems it's gone down hill toward publishing idiotic false information .... the publisher chooses which articles to print .... this is what surprised me, that he would even dream of publishing such rubbish.
R P.
Last edited by jayjay on Aug 08, 2011 10:54 AM
THERE IS NO WAY OUT OF A BINDING WRITTEN CONTRACT ALTHOUGH I HAVE HEARD FORM ONE PREVIOUS TIMESHARER/OWNER NOT KNOWING OF COURSE;SHE PURCHASED TIMESHARE..THAT THEY NOT ONLY LOST HER CONTRACT BUT SHE HAD TO RENT OUT THE PROPERTY VIA THE HOMEOWNERS ASSOCIATION OR ELSE GET OUT OF COURSE AFTER SHE ONE; FIXED IT UP WAS ABDONEDE DISTRESSED SOLD FORM PREVIOUS TRUST THAT HAD LAPSED NONE EVER CLIMED EXCEPT; AFTER SHE PAID IT OFF WITH 5 YRS TAXES AND ONLY THREE YRS HOMEOWNERS ASC.FEES...STILL HAD TO GIVE IT UP TO ANOTHER FRUDULENT INHERITEE WHEN REFUSED TO PAY ANOTHER FIFTEEN! YRS IN SAME FEES TO OF COURSE PRESIDENT AT THE TIME OF HOMEONWER'S ASOCIATION...QUIT WHILE YOUR AHEAD NEVER GOT ONE PENNY SAD PART IS STILL AFTER 4 YRS STILL WAITING STAUTE OF LIMITATIONS IS 7...
Donna F.
My wife and I just recently deeded back two properties that we owned for years. We were current with all of our fees and assesments. I just called the time share companies and explained to them that were going to dispose of them with or without them taking them back and they both agreed to deed them back. We signed the quit claim forms and paid minimal fees for the process. I doesn't hurt to make a few phone calls. It is easier for them to take them back then spend thousands of dollars in lsot fees and legal fees to go through the courts.
Don P.
donnaf143 wrote:THERE IS NO WAY OUT OF A BINDING WRITTEN CONTRACT ALTHOUGH I HAVE HEARD FORM ONE PREVIOUS TIMESHARER/OWNER NOT KNOWING OF COURSE;SHE PURCHASED TIMESHARE..THAT THEY NOT ONLY LOST HER CONTRACT
Every person that has bought a timeshare has a contract in hand .... she should have the contract herself. The rest of your post I couldn't follow.
R P.
I have a timeshare and have taken a huge pay cut just after getting back from vacation and now need to get out of my timeshare. I phone the company but they stated after 10 short days you can not return the timeshare. I am hoping to get the number of the company that will help us get out of this bind and will continue to pay the maintance fee until this is taken care of. can you please give me the number to get me out of this terrible choice.
linda
Linda M.
lindam1156 wrote:I have a timeshare and have taken a huge pay cut just after getting back from vacation and now need to get out of my timeshare. I phone the company but they stated after 10 short days you can not return the timeshare. I am hoping to get the number of the company that will help us get out of this bind and will continue to pay the maintance fee until this is taken care of. can you please give me the number to get me out of this terrible choice.linda
If you signed a contract and it is beyond the days of rescission (cancellation) that's stated in the contract then I'm afraid you're stuck with the timeshare.
R P.
lindam1156 wrote:I am hoping to get the number of the company that will help us get out of this bind and will continue to pay the maintance fee until this is taken care of. linda
Maybe I misinterpreted you statement but what company is there that would "pay [your] maintenance fee until this is taken care of"?
If you still owe a mortgage, it is highly doubtful, if not impossible, to sell or give it away
Lance C.
Hello, I need some assistance with knowing what can the timeshare companies do ( WYNDHAM LAS VEGAS) if you're in need to turn the timeshare(s) back in. We've had it for 5 years ( even and odd years) and due to finances we can't afford it any longer. I just want to make sure that 1. they can't garnish our wages and 2. ruin our credit for ever. Can you please inform what will happen. We just can no longer afford it. Its either mortage and other bills or timeshare. Timeshare is the decision because we can't live in it. Its a luxury.
Leslie B.
leslieb216 wrote:Hello, I need some assistance with knowing what can the timeshare companies do ( WYNDHAM LAS VEGAS) if you're in need to turn the timeshare(s) back in. We've had it for 5 years ( even and odd years) and due to finances we can't afford it any longer. I just want to make sure that 1. they can't garnish our wages and 2. ruin our credit for ever. Can you please inform what will happen. We just can no longer afford it. Its either mortage and other bills or timeshare. Timeshare is the decision because we can't live in it. Its a luxury.
You signed a legal contract to buy Wyndham ..... by doing so you have to follow the instructions in that contract. I don't know what lengths Wyndham would go if you stop making payments .... what you really need to do is talk to Wyndham about your situation and what would happen if you should default ..... it's best to get this information directly from the horse's mouth (Wyndham).
R P.
I got a kick out of the title of this thread "Need To Return Timeshare". People have to understand that once you sign a legal and binding contract to buy a timeshare and it is recorded in county records where the resort is located, then you own that week. Returning an item to an entity like Wal-Mart, where there are no legal contracts signed, is not the same in the timeshare industry .... you can't just return a timeshare contract to a resort unless they take deedbacks (most don't).
R P.
jayjay wrote:.... you can't just return a timeshare contract to a resort unless they take deedbacks (most don't).
Besides, technically you can't "return" a timeshare. To "return" means to give back to the entity who sold it to you. You bought from the developer. Developers never take units back (unless within the allotted rescission period). People are wanting to give the unit to the resort - 2 different entities.
Lance C.
I'm an active participant on another site dedicated to Westgate and their issues. They DO accept deedbacks, but only if you apply in writing and only if the loan is fully paid and the taxes+maintenance are current. There is a fee attached (negotiable). They ALSO grant WDIL's, although they don't make this public, but they show clearly on the registered deed websites in both Florida and Nevada. To get a WDIL you have to stop paying the loan and suffer through a long drawn-out battle with their collection agency. HOWEVER, they have never reported anything to the credit agencies, either good or bad payment history, unless the account actually goes to foreclosure which is fairly rare.
Dave K.
davek194 wrote:I'm an active participant on another site dedicated to Westgate and their issues. They DO accept deedbacks, but only if you apply in writing and only if the loan is fully paid and the taxes+maintenance are current. There is a fee attached (negotiable). They ALSO grant WDIL's, although they don't make this public, but they show clearly on the registered deed websites in both Florida and Nevada. To get a WDIL you have to stop paying the loan and suffer through a long drawn-out battle with their collection agency. HOWEVER, they have never reported anything to the credit agencies, either good or bad payment history, unless the account actually goes to foreclosure which is fairly rare.
I have no idea what a WDIL is, but if you stop making payments your timeshare will eventually go into foreclosure affecting your credit score .... that's a given.
R P.