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Timeshare Cure
Warning a new PC (Post Card) company is out there looking to help you unload your timeshare. Its called Timeshare Cure and its just another one of these companies that say give us money and we will take your timeshare. Beware !!! Do not trust these con artists.
Scott M.
peteb56 wrote:I just got a card from Timeshare Cure and was looking for comments on these folks. Thanks scottm421
You do realize that Postcard Companies claiming to take your timeshare off your hands charge $3k+ .... some PCC's never transfer the timeshare out of your name so you will still own it.
R P.
Last edited by jayjay on Jul 23, 2011 06:19 AM
I signed a contract with this company in March, I have recieved calls from Property Release in Sevierville, TN that they are handling the transfer. Now it is July, and the resort that I am trying to get rid of is calling for quarterly maint fee. I have called both companies and have not recieved a responce. Hope I have not got stung twice. First time is buying a timeshare, now trying to get rid of it
Josie J.
Last edited by josiej6 on Jul 22, 2011 08:52 PM
josiej6 wrote:Did they mention "transfer" TO WHOM, exactly???I signed a contract with this company in March, I have received calls from Property Release in Sevierville, TN that they are handling the transfer.
I'd like to be dead wrong on this bet, but I strongly suspect that you've simply been "had". The PCC may or may not be making ANY effort to get your name off of the ownership deed. Alternatively, they might be trying to do so by some means which the resort will neither accept nor acknowledge as legitimate (e.g., using a phony corporation, or a bogus LLC, etc. as "new owner"). Resorts are smartening up quite a bit these days in regard to attempts at legally invalid deed "transfers".
It sounds like you may have signed a limited Power of Attorney to "Timeshare Cure" (...likely along with a good chunk of your money). As long as YOUR name remains on the recorded deed, YOU remain the lawful owner of record --- regardless of your having paid money to some parasite falsely promising to "get rid of" your timeshare for you. The resort will chase YOU (and ONLY you) for maintenance fees, until such time as you are no longer the lawful owner of record.
That said, I can't say that I've ever previously heard of maintenance fee bills being issued "quarterly". It's certainly possible, but still news to me --- most maintenance fee bills are issued annually.
KC
Last edited by ken1193 on Jul 23, 2011 04:43 AM
josiej6 wrote:I signed a contract with this company in March, I have recieved calls from Property Release in Sevierville, TN that they are handling the transfer. Now it is July, and the resort that I am trying to get rid of is calling for quarterly maint fee. I have called both companies and have not recieved a responce. Hope I have not got stung twice. First time is buying a timeshare, now trying to get rid of it
This is the exact reason why I post here on the Redweek Forums .... to remind people to never ever pay a large upfront fee to any entity that says they'll take your timeshare out of your name and off your hands ..... they're scams .... please read my previous post on this subject.
BTW, there ARE some resorts that bill quarterly maintenance fee statements .... I've read about them on Tug.
As a last resort (excuse the pun) you need to file a complaint with the attorney general of TN concerning this scam .... you can do this online.
R P.
Answer to maint fee. Grand Pacific out of Carlsbad, CA which is the company that I pay my maint fee to, has always done one of three. Annually, quarterly, or even monthly.
Property Release is just a processing company used by Timeshare Cure. Timeshare Cure is in Torrance,CA.
I have been trying to get rid of this timehare for a few years. So, even paying someone three years of maint fee upfront seems worth it to get rid of it. Yes, you read that right. No nibbles of buyers, and I been trying to sell it. Not saying I have been stung yet, but I will post one way or the other how I do. 4 and half months to do paperwork to transfer seems alittle long.
Josie J.
josiej6 wrote:Answer to maint fee. Grand Pacific out of Carlsbad, CA which is the company that I pay my maint fee to, has always done one of three. Annually, quarterly, or even monthly.Property Release is just a processing company used by Timeshare Cure. Timeshare Cure is in Torrance,CA.
I have been trying to get rid of this timehare for a few years. So, even paying someone three years of maint fee upfront seems worth it to get rid of it. Yes, you read that right. No nibbles of buyers, and I been trying to sell it. Not saying I have been stung yet, but I will post one way or the other how I do. 4 and half months to do paperwork to transfer seems alittle long.
Don't hold your breath waiting for a transfer .... after you've paid them the fee the timeshare may still be in your name and you will then be responsible for paying future maintenance fees, so nothing will have changed except that you'll be out 3K+.
R P.
Last edited by jayjay on Jul 24, 2011 09:09 AM
josiej6 wrote:The location suggests that "Timeshare Cure" might be another one of several different "spin off" PCC's from "Timeshare Relief" (also located in Torrance, CA). I believe that other "spin offs" include Transfer America and several others as well. All appear to be the creations of a couple (last name McMillan) who seem to have built themselves a little empire "helping" others (..and I use the word "helping" VERY loosely). Company names may differ, but the game is the same --- "pay us several THOUSAND dollars and we MIGHT (...or might NOT) actually get the timeshare legally out of your name".Timeshare Cure is in Torrance,CA.
You'd likely be much better off advertising to give away your unwanted timeshare for FREE --- maybe even offer to pay all the closing costs yourself, if necessary. Spending those few HUNDRED dollars seems to make a whole lot more sense to me than spending several THOUSAND dollars on a PCC --- particularly when the PCC option may not EVER actually result in a new, valid deed ever being lawfully recorded in someone else's name anyhow.
You have not indicated whether you have approached the resort (...do so ONLY in writing, NEVER by phone) to see if they might accept a "deedback" (i.e., accept your deed in lieu of foreclosure). Most resorts WON'T go for this, but it costs you nothing but preparing a letter and affixing a postage stamp to at least ASK. If they say yes, they will require all maintenance fees to be paid up and current and they will also want you to pay the few hundred dollars in closing costs for preparation and recording of a quit claim deed.
Some options (besides a costly PCC) to at least CONSIDER, anyhow...
KC
Last edited by ken1193 on Jul 25, 2011 03:55 PM
I'm surprised that people are having so much trouble getting rid of their timeshares. I inadvertently lost a unit by simply not paying the annual maintenance fees.
The resort didn't process a change of address for all weeks I owned. It was an every-other-year unit and I had become accustomed to paying the bills when received. By the time I realized I hadn't received a maintenance bill or property tax bill in over two years, the unit had already been seized by the resort and resold to someone else.
My experience was quite painless because I never received any notices or phone calls due to the change of address snafu. Initially, I was ouraged, but now that I don't travel as much as I did, I don't miss it at all.
Mike D.
miked497 wrote:Clearly, the resort foreclosed on your ownership when maintenance fee bills went unpaid. Consequently, the resort would now have every legal right to file negative foreclosure information with the national credit reporting agencies. If so, this negative information could (and would) then show up for years thereafter within your personal credit report, potentially adversely affecting your ability to get a loan or mortgage or refinance an existing loan or mortgage. Consider yourself very fortunate if the resort did not / does not subsequently bother to take that step to report the foreclosure action to the national agencies. Most WILL do so, simply because foreclosre action usually costs them somewhere between $500 and $1,500 (depending on legal costs) to accomplish the foreclosure in the first place. Resorts don't generally tend to take having to absorb that foreclosure expense "lying down"...I inadvertently lost a unit by simply not paying the annual maintenance fees.My experience was quite painless.....
KC
Last edited by ken1193 on Sep 05, 2011 06:02 AM
ken1193 wrote:miked497 wrote:Clearly, the resort foreclosed on your ownership when maintenance fee bills went unpaid. Consequently, the resort would now have every legal right to file negative foreclosure information with the national credit reporting agencies. If so, this negative information could (and would) then show up for years thereafter within your personal credit report, potentially adversely affecting your ability to get a loan or mortgage or refinance an existing loan or mortgage. Consider yourself very fortunate if the resort did not / does not subsequently bother to take that step to report the foreclosure action to the national agencies. Most WILL do so, simply because foreclosre action usually costs them somewhere between $500 and $1,500 (depending on legal costs) to accomplish the foreclosure in the first place. Resorts don't generally tend to take having to absorb that foreclosure expense "lying down"...I inadvertently lost a unit by simply not paying the annual maintenance fees.My experience was quite painless.....
Scott M.
I sorry Ken, but it must be upsetting living in whatever world you live in. My resort has no vested interest in alienating its owners by blemishing their credit histories. If they really wanted to avoid foreclosure, they would have found my new address in less than 5 minutes if they bothered to look. On the contrary, they turn around and resell foreclosed units for much more than their expenses, and by doing so, keep maintenance fees coming in which are the costs that they absolutely don't want to absorb. Funny thing is, I would have paid the arrears, too, if they'd only bothered to contact me. They seem to benefit from foreclosures, so why ruin their reputations by ruining the repuitations of their owners?
I still think foreclusre is a viable option to spending hundreds of dollars a year on something you don't use But if your credit history is so bad that a timeshare foreclosure is the only thing that could interfere with you securing a mortgage, maybe you should wait until after the mortgage closes.
Mike D.
miked497 I sorry Ken, but it must be upsetting living in whatever world you live in. My resort has no vested interest in alienating its owners by blemishing their credit histories. If they really wanted to avoid foreclosure, they would have found my new address in less than 5 minutes if they bothered to look. ==================================== [PHILL12] Not sure of what world you live in that you think foreclosure is easy or worth it! First its not the resorts job to chase dead beat owners down when they move and don't make their payments and you probably will have a hit on your credit because of this down the road. Why would you think for a second the resort is worried about hurting a dead beat ex-owner{FORECLOSE} credit! LMAO on some of the stupidity that some people come on these forums and try and make others think their way is right.
=================================== On the contrary, they turn around and resell foreclosed units for much more than their expenses, and by doing so, keep maintenance fees coming in which are the costs that they absolutely don't want to absorb. Funny thing is, I would have paid the arrears, too, if they'd only bothered to contact me. They seem to benefit from foreclosures, so why ruin their reputations by ruining the repuitations of their owners? ==================================== [PHILL12] First of all the resort would pass the cost onto other owners in MF cost which you couldn't careless about. Also again why would they care about your credit or reputation as you have already showed to be a dead beat ex-owner of at least this one unit. Not sure from your post if you still own other units at this resort but if you do its your fault for not paying and not the resort. One phone call would have cleared this up.
PHILL12
Phil L.
Let's just say that your ideas sound just as idiotic to me as mine do to you. Besides, there is a big difference between defaulting on a timeshare maintenace fee and defaulting on a mortgage. I will not be responding to anymore melodramatic responses about imagined hits to my credit. It seems to make a lot more sense for you to spend hundreds of dollars a year for nothing. Go for it.
If you don't like the idea of default, though, why not get rid of unwanted units by lowering the asking price below what the resort is aking for the units they own? Better yet, why not just give it away? If you can't find any takers, try giving it to the resort. I'm sure they'll be happy to sell if for you and keep the proceeds for themselves, and you'll finally be rid of your maintenance fees.
Mike D.
Mike497 writes: "I will not be responding to anymore melodramatic responses about imagined hits to my credit."
Mike497, I suggest you review the three national credit reports maintained in your name by Equifax, TransUnion, and Experian reporting your credit history. You may be surprised to learn that the foreclosure you so cavalierly dismiss as an "imagined hit to your credit" has in fact been reported by one or all three agencies thereby lowering your credit score by 100 or more points. The National Credit Reporting agencies report judicial results regardless of whether or not the creditor provides the information to them. They have programs that independently pick up judicial results including foreclosures, bankruptcies, divorces, and judgments. They do not wait for the creditor to report the information to them. It may have seemed painless at the time but the sting may come later.
Of course, if you did not have a deeded interest or were the member of a "vacation club" a judicial foreclosure would not have been necessary. If so, lucky you. The reason so many resorts have gone to points and vacation clubs in recent years is to avoid the expense of a judicial foreclosure.
Carvan A.
Last edited by carvana on Sep 07, 2011 12:32 PM
jayjay wrote:This is the exact reason why I post here on the Redweek Forums .... to remind people to never ever pay a large upfront fee to any entity that says they'll take your timeshare out of your name and off your hands ..... they're scams .... please read my previous post on this subject.
I agree 100%. However, paying to exit a timeshare is not necessarily a bad thing. If you can't sell it or find a charity that will sell it for you (that's how they convert a timeshare to cash for them), we are the next option. We are a charity that does accept actual title transfer to us. Unfortunately, our only form of cash conversion is to charge a $500 service fee. It is never paid to us until AFTER the deed is recorded into our corporate name. All this is handled by your choice of title or escrow company. We never get anything until the end and you are protected by the escrow company based on real estate law.
What do we do with it? Nothing. We don't sell, rent, or use it for 36 months. At the end we offer it back to the resort if they want it. In the mean time we simply ignore all their interesting and creative letters. We don't have credit to ruin and our philosophy is that resorts know what they are doing to scam people into buying. We simply use the law in reverse on them.
Before people start yelling about unfair and illegal, please review the forum found under "Getting rid of your timeshare". It has been discussed enough there and hopefully helps people understand the legality of the process.
Dr. K.