High fees push timeshare owners to dump them at a loss

Up to 48 percent of timeshare owners are behind on their annual maintenance payments by at least a year.

Read this about timeshares and the owners trying to get out from under increasing fees, from Smart Money:

“To make up for these losses, resorts have been increasing the maintenance fees on the individuals who continue to use their timeshares. Average annual maintenance costs hit an all-time high of $731 in 2010, up more than 8 percent from the year prior, according to the latest data from the American Resort Development Association.

Experts say those costs are still rising. And for some owners, they’re a big reason to sell, says Lisa Ann Schreier, director of Timeshare Insights, a consultant to timeshare buyers and sellers.”

Up to 48 percent of timeshare owners are behind on their annual maintenance payments by at least a year – up from 37 percent in 2007, according to TimeshareResortCollections.com, the major collector for these debts.

Read more at: http://ctwatchdog.com/finance/time-share-owners-unable-to-afford-rising-fees-are-trying-to-dump-their-units

Posted April 8, 2012 through partnership with Independent Media Network LLC – originally posted by George Gombossy on ctwatchdog.com

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