My wife and I attended a presentation by these people at the DoubleTree Hotel in Waltham, MA yesterday (7/29/06). We went there at our assigned time of 10 AM (with our deed, as instructed) and were given a form to fill out. Then we were taken into a conference room where we watched a video detailing the horrors of timeshare ownership. I estimate there were 5 or 6 properties represented by about 12 people in the room, and 4 representatives of TR in the room. After the video, one of the reps gave a very well-prepared Power Point(?) presentation. Here are the main points as I remember them.
Contracts between developers and timeshare buyers are very onesided. After the contract is signed, developers have almost complete freedom to modify the provisions as they wish; the buyers have no freedom at all.
Unused timeshare weeks are rented out by developers at rates which are less than the maintenance fees. Why own a timeshare when you can rent it for less money and have no commitment?
If you want to get rid of your timeshare, you have a problem. You probably can't sell it, as there are no buyers. You can't give it to charity; they won't take it. You can't simply stop paying maintenance fees, as you will be legally assailed, a lien put on your house, charged for interest and legal fees, etc.
Not even death will free you from your timeshare. Your heirs will inherit it and have to face the same problem.
Never fear! TR to the rescue. For a fee which is the lesser of 7 times your annual maintenance fee or $3495, they will take your timeshare off your hands forever. Of course, you don't hear about this until the last 5 minutes of the presentation.
After the presentation ended, TR reps went 1 on 1 with each group of owners. We asked a few polite questions, said we would have to check with our lawyer, and finally had to request our $25 gas card, since none had been offered. We took it and left, being sure to use it up on the way home.