Star Tribune article on Timeshare Resales

[TUGBrian]

http://www.startribune.com/time-to-reconsider-the-time-share-market/369379441/

could use some tweaks...but at least its a mention about resale...and thats pretty rare these days.

 

[JudyS]

Thanks for the link!

This section is inteesting:
Attorney Mike Finn of Finnlawgroup.com advertises that he can get owners out of their time-share contracts. “I discovered an industry that could use a good cleaning up,” he said. “Nobody’s interested in enforcing what I perceive to be a fraudulent sales practice.”

The Miami-based lawyer charges a flat fee of $3,500 to get someone out of paid-up contracts. He can also help the person who owes thousands on their high-interest loan (17 percent is common), but he charges more for that based on how much money he is saving the client. “I know I can get it canceled, and it doesn’t involve litigation,” he said.

The $3000 is standard, but I wonder what he does if he can't find a new owner for the timeshare? Also, other than arranging new financing, I can't figure out what he does about high interest rates.

 

[WinniWoman]

I would guess he gets the resort to take the timeshare back.

 

[Luvtoride]

This article just ran today in our Sunday real estate section, under the title "when it comes to time shares, buyer beware". I was going to post it here as it mentioned TUG for resales so, but I see the thread is already here and 3 weeks old.
From the stats in the article it appears that the Time share developer sales market is still going strong! I guess either the pitch continues to draw in many new buyers (younger) or the word about resales and buyer beware isn't getting out. Here's the link to the article again.
http://www.startribune.com/time-to-reconsider-the-time-share-market/369379441/