LA Times gives TUG as advice also!

[TUGBrian]

http://www.latimes.com/business/la-fi-montalk14-2009jun14,0,1601552.column

 

[Bill4728]

Question:
My husband signed up for a time share when we were on vacation, just months before we bought our first home. Now one year later, with a baby on the way, this time share is taking $189 a month out of our pockets plus $2,828 a year for maintenance fees.

WOW, $2800/year in MFs!!

Answer: You can try to sell your time share, but typically there are far more desperate sellers than there are buyers for these "opportunities."

At best, you'll reap only a fraction of what you originally paid, and you may have to in essence give away the time share to anyone willing to pay the maintenance fees.

You'll still need to pay off the loan you used to buy the time share, or you'll risk damage to your credit
You can learn more about selling time shares from the Timeshare Users Group, at tug2.com.

Good advice but unfortunatly, is sounds like the TS owner still owes alot on her TS. It will be difficult to impossible to sell when owing money.

 

[Jennie]

The writer did a poor job--couldn't even get TUG's address right. And she failed to suggest renting out the week to offset some of the maintenance fees.

Seems she didn't do too well on the mortgage refinance question. It's amazing that a major newspaper would have such a medicre person giving "money advice."

At least she wasn't too dumb to find out about TUG.