- Jun 9, 2005
- Reaction score
I wonder how much more "coaxing" they do than normal. I am currently at the Wyndham Royal Vista in Pompano Beach and I get a note on my door every day to attend an owner update for $75. I guess they feel a need to do that since I don't answer the phone in the unit.She said growing Wyndham's hotel business, particularly internationally, will also help balance. Wilson said customers continue to buy timeshares, despite the struggling economy, though "they have to be coaxed a little bit."
I think it would be rare that a TS mortgagee would be upside down in their TS at least from a developer reselling that unit. If the developer takes a unit in forclosure and resells it they should get back more than the loan amount. However I would think they would buy the unit back at auction and only pay 10% of what it is worth and leave the holder of the mortgage on the hook for the rest. I am sure a holder of those mortgages wouldn't be happy with this arrangment?This is the line that I love.....when she is talking about how to continue to access the asset-backed securities market for liquidity.
"pledging a mortgage as collateral for a loan - known as hypothecation."
So, seems to me that the savvy purchaser would require her to place a true market value on that mortgaged timeshare.....maybe she should check TUG classifieds?
Last TS presentation we did that got that far into the financing discussion, it was 19% . . . that was about 18 mos ago.I was surprised that she 2/3 of their buyers are using their financing. I wonder what interest rates they're paying.
I prefer to buy resale timeshares that are cheap enough that I don't need to finance them!