Timeshare Trap

Timeshares are one of the worst investments you can make. This journal is to inform people who are thinking about purchasing a timeshare not to do so and help those trying to get rid of their timeshare.

Wednesday, May 20, 2009

Timeshare Owners Bear Cost of Others Misfortune

We all know that the economy is bad. Some people are having trouble paying the expenses of their primary home and putting food on the table. Vacation ownership is at the bottom of their list of priorities. People are abandoning their timeshares. They don’t have the money to pay on the ever-increasing maintenance fees and mortgage costs. This is causing a trickle down expense for other timeshare owners.

A deeded timeshare owner is responsible for covering the additional debt caused by other timeshare owners walking away from their responsibilities.

A deeded ownership in a timeshare means that you and all the other owners share the maintenance costs of the facility. When one owner walks away the cost goes up a little bit for each other owner. When several deeded owners choose to abandon their responsibilities, then the cost is exponentially higher for all the other owners. As the cost continues to rise, more owners will not be able to pay their bills.

This looks like a vicious circle that will only continue to get worse as the market struggles to fight off the depths of the current recession. So here is yet another reason not to buy a timeshare. -- M. Beddingfield

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