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COVID-19 Timeshare News & Resources

Message from the CEO

I am so sorry for the crippling impact Covid-19 has had on so many families, including serious health and financial hardships. In an unprecedented time with virtually no opportunity for leisure travel, timeshares have turned a blind eye to the needs of their owners. We are here for you. Timeshare Exit Team is your advocate for owners’ rights, including the right to exit your timeshare when it no longer works for you. Below is information we are continuing to compile for you regarding the timeshare industry as travel restrictions evolve, and as they become more desperate to increase sales among their current owner-customer base. In the middle of this storm, Timeshare Exit Team is working harder than ever on your behalf. Rest assured, as the demand for relief grows due to timeshare burdens, so does our determination!

COVID-19 and Timeshare Frequently Asked Questions

Q: My timeshare just shut down, but I had a vacation booked with them. Do I get a refund? Can I rebook?
Q: I won’t be able to use my TS this year because of COVID-19, do I still have to pay my maintenance fee?
Q: I can’t afford the mortgage payment for my TS anymore because I got laid off, is there a loan assistance program?
Q: I can’t use my timeshare anymore because of travel restrictions, how do I get out of it?
Q: The stimulus package earmarked 250 billion dollars to go to hotels and timeshares, will any of that money be used to buyback timeshares from owners with hardships caused by COVID-19?
Q: How do I trade out my TS for a later month?
Q: Are there any hardship programs for TS owners?
Q: My timeshare just shut down, but I had a vacation booked with them. Do I get a refund? Can I rebook?

A: We’re finding most major timeshare developers say they are offering free cancellation/no penalty options for owners trapped by reservations they cannot use between now and the end of April or May.  These extensions will no doubt be extended through June and perhaps later if the crisis continues.  Owners will NOT get refunds for maintenance fees already paid, but will get the option to reschedule at a later date.  Owners at legacy resorts, which have fewer financial options, will offer similar reservation extensions.  Call your resort HOA or developer owner services for specific information.  Expect extremely long wait times on the phone to get answers.  Renters may get refunds for prepaid trips, but not owners.  Owners who have rented their timeshares through third-parties, like AirBNB or RedWeek, may get stuck with a cancelled reservation that they had to refund (or should) to renters.

Q: I won’t be able to use my TS this year because of COVID-19, do I still have to pay my maintenance fee?

A: Most if not all maintenance fees for 2020 have already been paid; monthly payment programs will continue unless an owner stops automatic payments.  Owners who cannot continue making maintenance payments should call their developer or HOA to seek a 3-month holiday. Remember this: any maintenance fees NOT PAID, will be passed along to other owners in next year’s assessment.  To date, no developer company has offered a forgiveness program for 2020 maintenance fees due to COVID-19.

Q: I can’t afford the mortgage payment for my TS anymore because I got laid off, is there a loan assistance program?

A: The recently passed federal bailout programs are designed to help big businesses survive the downturn; if any of those funds trickle down to individual timeshare owners, it would be a miracle.  There are no federal or state bailout programs to help travelers who have suffered losses from cancelled trips. Travel is considered a luxury expense, not an essential spending item.  However, most major banks are offering mortgage-delay programs or loan-assistance programs to help borrowers who cannot make current payments.  It is uncertain whether these programs are available to timeshare owners. If you have questions, call your lender directly, not the timeshare company.

Q: I can’t use my timeshare anymore because of travel restrictions, how do I get out of it?

A: The COVID-19 travel restrictions are designed to be temporary, stop-the-virus measures.  At some point in the future — summer? fall? — they will be lifted.  Owners who think it is best to just get out of their timeshare, forever, should contact their HOA or developer owner services to see if they have workable exit programs.  If not, they can consult an attorney or responsible exit company, like Timeshare Exit Team, to represent them in exiting their timeshare.

Q: The stimulus package earmarked 250 billion dollars to go to hotels and timeshares, will any of that money be used to buyback timeshares from owners with hardships caused by COVID-19?

A: The federal bailout/stimulus programs are NOT timeshare buyback programs.  They are corporate bailout programs.  No timeshare companies are offering buybacks to owners as a result of the pandemic.

Q: How do I trade out my TS for a later month?

A: To trade a current timeshare reservation for a later travel date, contact owner services to arrange a new reservation. But don’t wait until the last minute.  Most companies have 30, 60 or 90-day cancellation policies — most of which are being waived during the current crisis period, however better to alert them EARLY.

Q: Are there any hardship programs for TS owners?

A: There are no hardship programs for TS owners, and that is absolutely deplorable!  This is why we formed the Coalition to Reform Timeshare, to shout from the rooftops, the need to reform the industry’s anti-consumer business practices.

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