I am a former TIMESHARE EMPLOYEE IN MEXICO

If I stop paying for my Cancun time share that is right to use, no deed. Will it affect my credit.

The all inclusive fee went up $20 to $105. The cost of a 3 bedroom is more than I would ever pay. $3200.

I want out. Payments are $199.

karenj456 wrote:

If I stop paying for my Cancun time share that is right to use, no deed. Will it affect my credit.

The all inclusive fee went up $20 to $105. The cost of a 3 bedroom is more than I would ever pay. $3200.

I want out. Payments are $199.

Virtually all Mexican timeshares are RTU "memberships", with no deed and no actual ownership of anything whatsoever.

Unless your (unidentified) timeshare company also has a legal, business entity presence of some kind right here in the U.S., and / or you took out a loan from a U.S. financing source (unlikely), you can simply walk away and pay not another nickel without any consequences or negative credit reporting. You may get collection calls, but even that prospect is unlikey. They will just blow you off --- there are plenty of other "lucky winners" coming around the corner there soon enough to sign on the dotted line. If there is any U.S. company involvement in any part of your purchase or financing however (again, not likely), all bets are off.

Hi there,

I purchased a 3 BR / 5.5 bath private Villa at a resort in Cabo almost a year ago. It's a deeded purchase, so it's actually a fractional use property and I have 2 weeks a year.

The story I was told was that I was buying a foreclosure for about $95k and that the market value is $210k. (I do have this in writing.) I was of course told several other unenforceable details but I do have a written guarantee of rental for the villa of $7700 per week NET for 5 years.

I was also told the developer would buy back the fractional rights from me at 75% of market value (not what I paid) so that would be $157k, enabling me to get a quick flip done and a nice profit. I have emails, texts, and audio recordings of this even though in my contract it's stated as a first right of refusal.

The company coerced me into paying off the note completely because they told me they would definitely buy it back within 90 days. 90 days later: they say the people who told me that no longer work there and that they have never bought back any fractional usage contracts nor do they plan to do it.

I am just a real estate investor and broker, not interested in personal use. Now I am looking into selling my contract, renting it out, or getting involved in litigation with the developer and I'm looking for reputable recommendation of resellers, lawyers and rental agencies in the Cabo area. Do you have any suggestions?

There is a lot more to the story but I don't want to get too far ahead here.

Thank you!

Maria

You are a "real estate investor" ? Not a very good one I think. How do you figure 2 weeks time in a villa would be worth $95,000 plus $15,400 annual maintenance fee?

Do the math: To have this place for a full year at those rates would mean a purchase price of $2,470,000 and $92,400 maintenance fee. Don't you think you could buy yourself a small hotel and pay all the expenses for that kind of money?

What possessed you to make such a foolish decision.

mariaa415 wrote:

Hi there,

I purchased a 3 BR / 5.5 bath private Villa at a resort in Cabo almost a year ago. It's a deeded purchase, so it's actually a fractional use property and I have 2 weeks a year.

The story I was told was that I was buying a foreclosure for about $95k and that the market value is $210k. (I do have this in writing.) I was of course told several other unenforceable details but I do have a written guarantee of rental for the villa of $7700 per week NET for 5 years.

I was also told the developer would buy back the fractional rights from me at 75% of market value (not what I paid) so that would be $157k, enabling me to get a quick flip done and a nice profit. I have emails, texts, and audio recordings of this even though in my contract it's stated as a first right of refusal.

The company coerced me into paying off the note completely because they told me they would definitely buy it back within 90 days. 90 days later: they say the people who told me that no longer work there and that they have never bought back any fractional usage contracts nor do they plan to do it.

I am just a real estate investor and broker, not interested in personal use. Now I am looking into selling my contract, renting it out, or getting involved in litigation with the developer and I'm looking for reputable recommendation of resellers, lawyers and rental agencies in the Cabo area. Do you have any suggestions?

There is a lot more to the story but I don't want to get too far ahead here.

Thank you!

Maria

Hi David,

Although I appreciate your criticism very much, I don't believe you have the right figures. My annual maintenance fees are $2100. Not $15,400. And I wasn't particularly asking for your critique as an investor, only some helpful guidance as stated. Thanks again for your response and best of luck on your future endeavors.

Maria

Timeshares are not and never have been a good investment . They are dreams that people purchased while they were in a state of euphoria enjoying a much needed vacation . They were swooped down on by a predator offering free gifts to attend a presentation .The victims are then fed a whole lot of lies and deceptive statements to get you to sign a life long one sided contract that only favors the developer . By the time you finish your vacation and return home to read your contract the recission period has expired and you realize what you have committed yourself to .

NEVER pay anyone money upfront that claims they can get you out of your contract including fake charities .

2014 purchased after much hesitation 2 weeks at a vacation club in Mexico ended up with the certificate of perpetuity and flex option on what we were told was a phase 1 development

2016 Returned to the same spot to witness a sunrise @ Sunset where we were taken aside by a male who claimed to be nephew of the manager Dallas (out of Edmonton AB Canada) originally and was told the home office was pissed in that we got those 2 certificares and had we not returned when we did they were removing them from the contract with our without our consent.

We were taken to the sales office and told the only manner to retain the certificates was to buy into the REAL ESTATE portion of the resort for an additional 32,000 plus dollars US. having PTSD from military service I was scared so we signed. We were told the price value wise in 5 to 10 years could be in the $500,000 dollar range due to no more resorts being built and that Disney was building next door to them. that this level means you have an investment and we will buy back currently inventory (to this day they say they buy and sell daily or that they will in 3 to 4 years or we never buy back inventory because we are attempting to build.)

we wrote to complain - nothing happened. we wrote to CRDA - nothing happened

2018 following a near death medical condition in 2017 we returned to this multi rivered resort and wanted to ask about sell back to the resort chain.

they attempted to have us combine 2 contracts into one *which it already is in one contract) and sell us rights to use of the marina. (which we already have as well)

in a meeting that afternoon, their consumer services manager said that they were dealing with fall out from the past manager and his support staff regarding past issues of sales approaches and that they were removed from the company.

this past month we lost $55000 to a timeshare resale scam being run out of the state of TN and Oklahoma using information about our timeshare only the resort should have had. we were contacted at a kept secret number for the resale.

we are Canadian citizens we did not take out a loan for payment of the RTU contract. we never missed a payment between 2004 and 2018 $52000

We cannot afford the 3 grand to hire companies to get out of the contract and someone stated that once the RTU is equipped with certificate of perpetuity the names on that document will become liable for payments if we do not make them. I personally find that hard to believe since i could put Santa's name on the document and i doubt they would be made to cover those costs.

To make matters worse my PTSD means I will have a service dog at my side for the remainder of my life Something i believe the resort does not take kindly to.

how does one cease this nightmare? is there a letter which is available to send to their legal department?

the resort chain is no. 9 on the complaints list of all Mexico resorts chains with similar stories.

being from Canada, if we merely refuse to pay the fees - what will/can happen?

some guidance may assist.

did you get any response in support of cancelling we are in teh same boat only we dropped $55000 USD to resell to a group of crooks who we've traced back to Cancun.

ofnilietaa wrote:

I am planning to send an email to numerous people that can and may be able to help me and my family about the cancellation of this Mexican timeshare contract. May I cc to this email, wayne?

Edit: wayne, gmail said that your address could not be found.

earls66 wrote:

.....this past month we lost $55000 to a timeshare resale scam being run out of the state of TN and Oklahoma using information about our timeshare only the resort should have had. we were contacted at a kept secret number for the resale.

We cannot afford the 3 grand to hire companies to get out of the contract......

how does one cease this nightmare?

being from Canada, if we merely refuse to pay the fees - what will/can happen?

I'm not going to criticize your several unfortunate decisions and choices in this matter, but will merely point out that you can still make the choice, right now, to simply never pay those parasites in Mexico another penny and just walk away from the whole mess ---right now and permanently. The Mexican parasites have absolutely no legal leverage or jurisdiction over you in Canada. They will actually be quite content to just keep the considerable amount of money you have already provided to them. The supply of gullible gringos is virtually endless and they will just write you off and wait for the next willing buyer to come along --- as they always do. Whatever money you paid in Mexico (or any and all money that was subsequently rerouted to Mexico) is unfortunately gone forever.

As far as the scam reportedly run out of the U.S., I strongly recommend that you prepare an extensive, very detailed and factually complete summary of all related actions and events in the matter, including specific dates, and then contact the Attorneys General of the states which you believe to have been be involved, providing your assembled specific facts, details, dates, names, phone numbers, identifying any banks or other entities involved. Your chances of recovering any money are frankly quite slim, but slim odds are still better than zero (if you take no action at all).

I am sorry for your choices, losses and overall situation, but I wouldn't send ANYONE another penny on this matter. Don't continue to send good money after bad. Also, please don't naively believe for even one brief moment that you can somehow get magically "released" from a contractual obligation by merely paying some obscure and useless third party entity $3,000. Plainly stated, that's just a completely unfounded pipe dream.

I wish you luck. Step one is to STOP sending your money to people whose only goal is to fleece you and then disappear --- with your money firmly in hand.

Thanks ness in the process of selling my timeshare in Mexico I found a company from Chicago and we have been working with a lawyer in Mexico to do the whole transaction they were suppose to wire the money to me and now the bank will not release the funds I am already out 11500 dollars in capitals gains and tourism fee and a fee to the the property manager and I have a copy of the wire that was suppose to come to my account two days ago and it has not happened. Can I sue them I am seven days from closing On a house in the states and now have to pull money out of my retirement because they did not wire money ? What legal steps can I take to go after the bank?

NEVER pay anyone money upfront that claims they can get you out of your contract including attorneys .

Rosemarie, you have been scammed and you have to stop communicating with these people. Read this article by "Insidethegate."

https://www.insidethegate.com/how-to-spot-a-scam/the-mexico-escrow-scam-2/

Regardless of what you have sent them, there will be more demands for more money - until you stop or go broke. No one in Mexico wants your timeshare. And there are no legal means to get your money back. It is a cruel and despicable hoax to extract money from naive' Americans. Mexican timeshares are available for free on Ebay, Tug and Redweek. The minute you call these people to challenge what they are doing, they will disappear. And the firm in Chicago is not real. They may reference a real company - but they are only a front.

Uhm, any ethical sales person will not lie to his client/ customer. I worked for a Timeshare developer for 12 years(before getting into property development) and if we caught a consultant, or a manager, or senior management, or director lying we would terminate them on the spot. We sold with integrity and absoluteness. Maybe thats why even though they're not members of the BBB and can't buy ratings we still maintained and they still maintain an A+. You have a very negative view of sales in general maybe because A, you're unethical yourself, or B, have made terrible decisions and you blame your lack of intelligence on others when really it's the man in the mirror.

Maria, Unfortunately you met a deceptive sales team, I'd use the deceptive trade practice approach as well as contact PROFECO to help you get your refund. I assure those sales consultants and managers still work there but know you're back in the states and unable to easily fact check those claims. Fractional saytem is just an unethical and theoretical pitch designed to get you to buy a either a large block of fixed weeks succinctly in same unit or a massive amount of points that theoretically offer the same model assuming the unit is available for a large quantity of time. Google PROFECO and all or email them with your issues and all the written statements and audio so they can begin the investigation. I'd also look at hiring a Mexico based law firm as surely this is not an issue since you were able to spend a large sum of monies upfront. What they pitched you unfortunately just isn't possible by any means an no company will buy back unused share fro you as this is a negative cash flow and like any other business, they're in it to be in the black.

Hope this helps, and all of us have made impulsive and bad decisions. No one should be ridiculed for it, hopefully we learn from it and grow better. Clearly this guy everyones seeking advice from is nt the best person to be consulting.

Ben......you should be doing stand up comedy . I'm still laughing at your BS . You must live on an alternate planet .

Thank you, Ben.

Yes, Profeco has been working on the claim for a while. First hearing was scheduled for December 3rd and now postponed to February 21st because Profeco can't seem to locate the company I am complaining against, assumably to formally serve them. I doubt the 2/21/19 hearing will also take place. I have an attorney at the ready but he suggested first that I complete the Profeco process as that outcome may help me in and of itself. The concern I now think of is.....how to tell if my attorney is doing good work and not a scam artist as well. It's very hard to tell! I had the same thought about how these "former" employees are still working there themselves and have half a mind to go down there myself to ascertain what's actually happening. Depending on what happens with Profeco, that is what I intend to do. Thanks again.

Timeshare paid for. Have had 20yrs and rarely used. What if I just stop paying maintenance fees

debbyl18 wrote:

Timeshare paid for. Have had 20yrs and rarely used. What if I just stop paying maintenance fees

Where is your unit located? Is it deeded, a vacation club, or a Right-to-Use? If it's one of the latter two, then you don't actually own anything. The club may bombard you with collection calls and letters as well as threaten to ding your credit rating. Outside of that, if you just stop paying maintenance fees, they will likely terminate your membership or "repossess" your RTU.

Hello. Thanks for what you do. I own a lifetime timeshare based on Cancun for years now and have been a loyal client. They may have a base in Florida. The timeshare is paid in full but the maintenance fee is soaring off the roof while my income is sinking. I am ready to email them a hardship letter and stop all payment. Besides the harassing letters and my credit getting hit, what other repercussions will there be?

franks649 wrote:

I am ready to email them a hardship letter and stop all payment. Besides the harassing letters and my credit getting hit, what other repercussions will there be?

Chances are no other repercussions.