SCOTTSDALE, Ariz., April 13, 2021 /PRNewswire/ — Scams flourish during times of despair. Many timeshare owners are facing financial hardship or lifestyle changes to remain safe during a pandemic. If we think back to the most recent financial crisis, an industry of timeshare resale schemes popped up overnight with a devastating effect.
In 2008, with the collapse of the economy and crash of the stock market, many homeowners found themselves no longer able to afford their homes much less the timeshare that they had purchased in a moment of weakness.
Because a timeshare is oftentimes a “lifetime” obligation to pay maintenance, taxes and fees, it is a liability, not an asset, that many people could no longer either afford or want.
Faced with the prospect of ever increasing maintenance fees, and desperate to get rid of the so-called “vacation of a lifetime” many timeshare owners turned to the timeshare resale market in an effort to be relieved of their lifelong obligation to pay ever-increasing dues and fees.
Into this vacuum of desperate owners wanting to sell, jumped the timeshare resale scammers.
Read the full article to brush up on your history of the industry’s pitfalls and protect yourself from falling victim to the new era of predatory schemes here: https://vacationownershipconsultants.com/owning-a-timeshare-and-canceling-the-contract/.
Vacation Ownership Consultants
Vacation Ownership Consultants – Timeshare Resale Fraud
With the timeshare resale scam running rampant, the Federal Trade Commission and state consumer protection agencies began to shut down dishonest timeshare resellers for bilking timeshare owners out of millions of dollars.
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SOURCE Vacation Ownership Consultants