The timeshare industry’s newest program designed to make it look as if they’re caring companies looking out for all their owners is a handful, OK about 16, of developers offering a deed back program. Often times, these programs cost the owner upwards of $1,000, making them no different than the glut of self-proclaimed exit companies in my opinion, but that’s a topic for another post.
These developers are quick to point out that they want to stop their owners from the damage that these exit companies do. Don’t get me wrong, these exit companies are no good and do much damage to the owner looking to get out, the remaining owners at the resort and to the resort itself, which may find itself in a precarious situation due to unpaid maintenance fees on thousands of intervals.
But here’s where the myth of helping owners can’t stand up to the spotlight of truth. The majority of these deed back programs can not be used, even with paying the draconian fee, unless the interval was purchased directly from the developer.
So, are we to understand that these benevolent developers only care about protecting SOME of their owners? It’s no wonder so many frustrated and beleaguered owners are turning to these exit or transfer companies. After all, these scam companies promise help for all owners, something the myopic developers have yet to grasp.
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