Timeshare Foreclosures – Why You Should Avoid Timeshare Foreclosure

One of the common questions that comes up about timeshares is “What will happen if I stop paying my maintenance fee?” This question is usually asked by timeshare owners who are having difficulty keeping up with their annual maintenance fees, due to increases or a change in personal financial circumstances. Or sometimes a special assessment for maintenance becomes too burdensome.

Many of these folks are under the mistaken impression that there would be no consequences to allowing the payments to lapse. But that could not be further from the truth. Timeshare companies will foreclose on your timeshare if you fail to pay your bill and this will wind up on your credit report, just like if you decided to stop paying your mortgage or a credit card bill. You may also wind up being pursued by a collections company for back payments and could possibly face additional penalties and fees as a consequence of non-payment.

Some owners actually think that just because they’ve lost interest in their timeshare and don’t intend to use it anymore, that the timeshare company will just take it back if the maintenance fee doesn’t get paid. But this isn’t how it works. If that were the case you’d find some properties with an abundance of vacant properties on their hands during the least desirable vacation times. So for the most part, no timeshare company is going to let you out of your contract. The maintenance fee continues to be an obligation even if you have no intention of ever using your timeshare again.

So the best bet if you need to stop paying is to find a way to sell your timeshare. Sometimes it even makes sense to simply give it away. Unfortunately, for some sellers, you might be holding onto a timeshare that isn’t particularly popular, or maybe your week isn’t in high demand. In this situation, it might even make sense for you to offer a financial enticement. For example, you might offer to pay this year’s maintenance fees, but allow the new owner to use the week.

Conducting your sale in this way wouldn’t save you this year’s expenses, but it would ultimately allow you to relinquish the responsibility to someone else. This is far preferable to having your timeshare foreclosed upon.

Just be cautious that when you sell your timeshare you are not being ripped off. You should not pay a salesperson an upfront fee to sell your timeshare for you. A professional real estate person collects commission only after the sale is finalized, not before.

Timeshares – Pros and Cons

There are many pros and cons about timeshares, and many opinions about the investment return. Some of the arguments have a lot of validity to them and others may not. A timeshare may not be a lucrative investment or provide a substantial return; however, there are other benefits of a timeshare does offer.

Many people fall in love with a particular place where they enjoy vacationing. Like most vacationing spots or resorts, the lodging is the most expensive line item for the entire vacation. Typically, the airfare, food and gas fluctuate, and when that is combined with the lodging expenses, the results can be an unaffordable vacation. With a timeshare, the issue of finding affordable lodging is eliminated.

There are many timeshare companies that can assist people in finding their ideal location, as well as their ideal vacation home. A timeshare should not be considered as an investment but rather viewed as vacation ownership, and when the timeshare is sold, you can probably expect about fifty-percent of your investment, however; you must take into consideration the time and use of the property.

Like anything, there are a some drawback to timeshares and one of those is spontaneous traveling is not always an option. Most people have their vacations planned around their timeshare. However, if their time-frame is inconvenient during their time, the timeshare can be rented to a friend or listed for timeshare rentals. If you are able to rent the property, then not using your timeshare is not an issue.

Another drawback is timeshares will not allow you to cancel after twenty-four hours. This may be inconvenient for those with young families.

There are fees that each owner of a timeshare must pay, and most of those fees revolve around the operation and maintenance of the property. The fee that each owner must pay will have a reserve line item built in for the replacement of furniture and other non-re-occurring costs.

When purchasing a timeshare, you have to determine whether to buy the property new from a developer or used from a resale, and of course, there are pros and cons to both. A resale will most likely save you money, however, sometimes resale timeshare is not available in the location you desire.

Timeshares offer fixed or floating ownership, and the buyer must decide which type of ownership is going to best meet their family’s needs.

Timeshares work for many people and many people own more than timeshare. Prior to purchasing a timeshare of any type, research should be done, so the buyer understands all the nuances to owning a timeshare property.

Travel Points 101 – Lessening Expenses

Global economic crisis has turned all basic needs into a luxury and even traveling which is the only reward from working overtime at work and home seems to be against the budget. This doesn’t mean, one should deprive themselves of going on a vacation. Traveling is the best way to run-away from all the stress brought by work, home, and life.

Based on a medical study, humans can only tolerate a certain amount of stress, pressure, and pain from outside factors thus many doctors prescribe patients to take a vacation. A long or even a short travel alone or with companions is enough to get away from all tensions running in your mind and body.

However, despite the necessity of taking annual vacations, there should also be a limit to spending on getaways. As such, here are some useful tips to pack along with your stuff, before you head off on your annual break:

WALKING LEADS TO SAVING. It’s saves yourself from paying ridiculously expensive fees by riding a cab and good for the health too. If your accommodation is conveniently near tourist attractions then take advantage of visiting these places with your own feet than waiting for a car lift. Photographers also enjoy taking pictures while walking than in the car. But if walking is not your thing, then another way to avoid expensive cab rides or airport shuttle services is by renting your own car.

ENJOY HOTEL ADVANTAGES. Traveling means checking various attractions to free the mind from stress but to prevent spending too much on things that you can get for free, staying in your hotel is not all that bad. For instance, if you plan to travel with children then keep in mind that kids enjoy water activities thus take advantage of the hotel’s large swimming pools for adults and kids. Another saving tip would be to visit the white sand and crystal blue water beaches or learn from the town’s museum.

PLAN AHEAD. Vacations come only once in a while, so you may as well plan for it instead of doing everything at the last minute. Reserving accommodations and tickets well in advance can help save money and avoid further stress. Many airlines and hotels offer early-bird discounts, so try to book at least two months before your scheduled trip to snag those promos.

BRING WATER. It might seem like added baggage, but bringing your own water can help save a lot of money. Remember that in tourist spots, even these items can be pricey. There are even some destinations where the quality of water may be suspect, and bottled water fetches a premium price for unsuspecting tourists. In contrast, water and sports bottles can be refilled at the hotel or fountain stations while visiting different attractions, saving unneeded expenses and rubbish.

These are just some of the tips you can take with you in your next holiday, so you can save up while cooling down. Although some might be common, don’t take those tips for granted because you’ll never know when you’ll need them.

3 Little Known Tips to Saving Money on Beach Vacation Travel

Here’s a really simple way to save on beach vacation travel. We are going to show you 3 ways to save you some bucks when booking your next beach vacation. The beach is an incredible experience. No matter whether you’ve traveled to far western Australia or taken a quick weekend trip to the Jersey Shore, barring rain, the beach is usually a really enjoyable experience. We’ve taken trips all over the world we’ve missed giant opportunities of money savings that were seemingly all around us if we had just taken the time to do a little extra research. Well, you are in luck. The travel research has been done for you, all you have to do is be willing to keep reading. Before you know it, you’ll be taking the beach vacation of your life, for a steeply discounted price. Here we go:

1)Buy it used. Well, not really used: more like discounted (or unused actually). Sometimes, people can put their vacation opportunities up at real discounts. Did you know that there are all sorts of people out there who own time shares but can’t use them for various reasons? Maybe the season isn’t right, or they can’t seem to get the flight that they need. eBay has a thriving market for timeshare opportunities. A lot of the listings are permanent (e.g. people looking for others to buy their times shares out completely), but sometimes people are just looking to monetize a weeks worth of timeshare that they can’t seem to use themselves. Their loss can be your opportunity. eBay is an auction, and the highest price wins usually.

2) Compare everything. Guess what? Expedia and Orbitz seem like they are juggernauts of internet travel and they control a lot of the market. BUT, they don’t have every vendor available. A lot of the discount airlines like SouthWest and JetBlue don’t use either of these massive companies and you can only get their deals by going directly to their website. Don’t’ tell anyone, but from what we’ve heard JetBlue is supposed to have really nice seats and monitors on new planes with really good prices. We haven’t used JetBlue ourselves yet, but it’s supposed be really good (especially at delivering good value on Northeast to Florida routes). That tip alone could save you some bucks while getting you a really nice flight.

3)The first 2 points are perfectly valid in any trip planning but almost worthless when you consider that you might have to shell out a lot more bucks for destinations abroad. There is a beautiful beach state located not too far from anyone East of the Mississippi. That’s right. Florida. Florida is back and it’s beaches are still fantastic. Florida is still beautiful. There has been a lot of development of Florida during the last 50 years, but Florida is still a massive state with plenty of undiscovered beaches. The state of Florida can be great if you know where to look. It’s pretty nice. Trust us….the undiscovered spots of Florida can really be something else. However, they are becoming more and more difficult to find as thousands of people move to Florida every month.