Many timeshare owners fed up with being unable to sell their timeshares or exit due to strict contracts are turning to companies that purport to expedite the process. But not all of the companies are reputable.
According to timeshare website Red Week, at least 1.15 million timeshare owners want out of their agreements.
Unfortunately, the California real estate commissioner warns that a glut of timeshare properties and owners “desperate” to get rid of them have created “easy” prey for unscrupulous timeshare exit companies.
For Gary Newton, getting rid of his Tahoe timeshare has been an uphill battle. “There’s no resale market,” he said in an interview with CBS News.
He has tried selling it and even giving it back to the vacation resort, before finally deciding to pay a timeshare exit company $3,600 to get rid of it.
“And the deal was they would initiate the process and give me an update every month,” he told CBS News in an interview.
The agreement promised a “safe and secure transfer strategy”...........