COVID-19 Timeshare News & Resources

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.

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.

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.

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.

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.

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.