Mom and dad bought a time share for a week in Shell vacation club in Kauai Hawaii. Dad passed a year after and never even got to stay there. Mom can not afford to go and really can not afford to travel.
They paid $30,000 for it and about $125 a month to maintain. I would never have suggested this as I do not understand how a time share ever pays for it self. You have to vacation where they are located, not where you want to. Makes no sense to me.
But now she can no longer pay the $125 a month as all she has is social security. They of course sold her on its great resale value...but that $30,000 is gone and all she has is a liability she can no longer afford.
So what do we do. I spoke to a company that sells them, yep upfront fees, I know better. Is there any value in this thing to sell? Should we just stop paying? She has nothing to take. What is the best out? Lastly do we need to leave the points in or can we take a trip with her before selling?
They paid $30,000 for it and about $125 a month to maintain. I would never have suggested this as I do not understand how a time share ever pays for it self. You have to vacation where they are located, not where you want to. Makes no sense to me.
But now she can no longer pay the $125 a month as all she has is social security. They of course sold her on its great resale value...but that $30,000 is gone and all she has is a liability she can no longer afford.
So what do we do. I spoke to a company that sells them, yep upfront fees, I know better. Is there any value in this thing to sell? Should we just stop paying? She has nothing to take. What is the best out? Lastly do we need to leave the points in or can we take a trip with her before selling?