Foreclosure and Loan Modification Blog

Are You A Victim of These 6 Timeshare Fraud Tactics?

It seemed like a great deal at the time: listen to a 90-minute sales pitch on timeshares and get a free gift worth $100 or more. No commitment to buy anything. You knew there was no way you were going to buy. You just wanted to get the gift and leave. What's the harm in listening to the sales presentation?

Two hours later you somehow bought a timeshare. High-pressure sales tactics had your head spinning, all the numbers that were thrown at you began to make sense, and the spiel from multiple well-trained salespeople convinced you that owning a timeshare isn't just a better way to take vacations, it's also makes financial sense.

But many of the things timeshare salespeople tell you during their presentation aren't 100% true. It may be timeshare fraud. Here are some of the common false promises and/or sleazy sales tactics used by timeshare salespeople:

1. The presentation lasts longer than they promised.

Your are lured into the timeshare sales pitch with the offer of a free gift and the promise that the presentation will only last an hour and a half, but often it lasts two hours or more! (Parents and children are separated during the presentation, and sometimes alcohol is served.) The timeshare salespeople know that your willpower is not infinite. The longer they can keep you listening to them, the more likely you are to buy from them. People often say they felt trapped in these presentations and did something they wouldn't otherwise have done.

3 Reasons Your Timeshare Is Worthless

Many people who want out of their timeshare get an unpleasant surprise when they try to sell it: they find that their timeshare is worthless. Despite what they were told before buying it, most timeshares just don't have a very good resale value. Why is that?

1. Timeshares are not a good investment.

Remember, with a timeshare, you don't own any physical property. You just own the right to use a unit in a building for typically one week a year. The average cost of buying that week from the resort developer is around $14,000 to $20,000, which is probably a lot more than it's worth. You likely won't be able to get anywhere near that much if you try to sell it on the secondary market.

2. There are other costs and fees.

The cost of the timeshare isn't the whole story. All timeshares also have maintenance fees that cost hundreds or thousands of dollars per year. And the fees increase annualy!

In 2012, the CEO and president of the American Resort Developer's Association, a trade organization that represents the timeshare industry, said that the average yearly maintenance fees for a one-week timeshare was $660

4 Methods of Timeshare Cancellation

If you've been fantasizing about canceling your timeshare, it's time to stop fantasizing and start making it happen. There are ways out of a timeshare, and Amerihope Alliance Legal Services may be able to help you.

Timeshares, also called “vacation ownership”, are sold to you as a good investment, but they really aren't. They don't appreciate in value like the salesperson claimed, and maintenance costs can rise considerably over time.

Many people feel that they were the victim of a timeshare salesperson's high-pressure sales tactics that coerced them into buying something they didn't want.

After purchasing a timeshare and experiencing what it's actually like to own, many people are disappointed and want a way out.

The good news is that owning a timeshare doesn't have to be a life sentence! You can get out and move on with life. Let's look at how that can be done:

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

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Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

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