About Andreas Rossler Expertise I'm able to answer general questions on timeshares and specifically in regard to purchasing, renting or exchanging timeshares on the secondary or resale market and through the Internet. I have expert knowledge in sales, mechanics (how and why timeshares work), and timeshare exchanges.
I am also well versed in timeshare financing and may be able to guide you to better financing or refinancing options for your timeshare purchase.
If you ask questions of a legal nature, or those requiring tax advice - I may not be able to answer fully.
Experience I have 10 years of industry experience in sales, management and processing. I'm currently CEO of Timeshare Village, a resource for timeshare owners and industry professionals.
Organizations Mensa - Life Member
Publications I have been interviewed by Channel 7 News in the Bay Area of California regarding my opinions on Worldmark, the Club timeshares as developed by Trendwest-Wyndham Resorts.
Education/Credentials MBA - Master's in Business Administration
BS - Mathematics
BA - Economics
California Real Estate Broker
Question Hi, the time share I bought back in '95 I never used again, I never banked it and I haven't paid the maintenance fees. I just found the entire process very confusing and laborious.
I have two questions.
1. My unit is in foreclosure for failure to pay maintenance fees, but the purchase price is totally paid. If I allow the company to foreclose it and auction it off, will I get the amount over and beyond the amount I owe? Will this still be reported to my credit? Is there any other way I can separate myself from this financial leech? Just have a clean beak?
2. I noticed that my share of this unit is 1/202 shares. If my maintenance fee is $795 then the amount the resort is collecting for this particular unit is $160,590 per two years. what are they doing with that amount of cash? There is no need for that amount of maintenance.
Sincerely,
Steven
Answer Good Questions: Generally, if they are still selling shares at the resort, they won't auction it off but resell it retail. This is a good thing - auctions rarely get a good price (I promise you, if they were to auction it off, you would still owe them money). However, for the most part - these things are taken back and that's the end of it. Yes, they could report it to the credit agencies - some timeshares do and some don't. Once they foreclose then you're done with it.
As for maintenance, I'm not sure of your figures - but, yes, they profit from maintenance fees as well. It presumably goes toward: insurance, utilities, replacing furniture, hiring staff, taxes, keeping the property up, etc.
