Transfer Smart News: BBB warns Timeshare Owners of the Increasing Scams

These are tough times and plenty of people today are struggling just to make their home mortgage payments. It is also not surprising that many owners nowadays are hoping to cutback on their expenses by getting out of their timeshare contracts. But there’s a recent warning about a scam targeting thousands of timeshare owners across the country.

Take for example the case of Patricia Valdez and Art Heist, timeshare owners facing similar ordeals, and they both say the craziness all started with a phone call and a promise to sell their properties. As heist said, they'd say well, we hear you got a timeshare for sale, we have a buyer for you. Then, they were both asked to do the same thing - give the company the money upfront.

As they were excited about dumping their vacation properties, and the extra expense that came along with them, both Valdez and Heist paid the fees. But after that, they never heard from the companies again and their timeshares were never sold. As they tried to call there, they would not answer the phone. According to Heist, they just took my money and claimed they would sell my timeshare and they haven't done anything.

Meanwhile, the Better Business Bureau says that they were targets of one of the top scams operating in the country. The agency has been flooded with complaints from thousands of timeshare owners across the country with the same statement. They get a phone call from a company with a hard to resist offer promising to get rid of their timeshares immediately or there’s an interested buyer and claiming they can close in 30 days.