Timeshare Deliquencies Rise

With tougher economic times, it really shouldn't come as a surprise that more and more people are having issues with the timeshares that they own. While more and more want to sell, it seems like a lot are finding that they just can't afford them anymore and are missing their scheduled payments.

Standard & Poor's reports that total timeshare delinquencies rose to a new high of 4.2% in September 2008 and averaged 3.9% during the entire third-quarter.

If you are having trouble keeping up with timeshare payments, it's time to swallow that bitter pill and realize that you aren't going to get back any of the money that you used to purchase the timeshare resort unit. As the economic crisis worsens, it's going to be even more difficult to get rid of your timeshare, so mark it up to an expensive financial lesson and do whatever it takes to sell it now.