Was I scamed??

I'm new to TUG but have had a timeshare with Atlantic Palace in NJ since 2006. The mortgage was paid in full last year but the maintenance fee has not been paid for 2014 due to a job loss. Our fees are every even year for around $500 and our unit is a studio but has 1 bedroom trading power with RCI.

My husband and I received a call from Flagship (a sister property a few blocks away) asking us to come to their property in an effort to have our maintenance fees wiped clean. Despite being VERY skeptical we went to see what they had to say.

During the meeting they told us that our maintenance fees cover New Jersey taxes and that since we didn't pay the fees, Atlantic Palace can send us to court for non-payment despite us paying off the mortgage and RCI will also terminate our membership. Basically, we would have paid the mortgage and still have nothing.

Here's the kicker....
Flagship then says that since they NEVER called us about our fees, they can move us from Atlantic Palace to their location. We would have to switch from Weeks with RCI to 33,000 points with Interval International. They will honor the principle amount we originally paid and apply it to a studio unit there and we would pay the difference for the mortgage. The fees at the new place would change from every even year to EVERY year at $80 more a pop, the location is further down the boardwalk where nothing is, the rooms at Flagship are smaller and don't transfer to a 1 bedroom with Interval International.

I'm wondering if they just bought it from us because we got it for cheap in 2006 so they can sell it to someone else for more. Should we rescind and just pay the maintenance fees at Atlantic Palace???

I think you should rescind, pay your MF, and hang around TUG to get hints on maximizing use while minimizing cost. The whole tax business and who called or not was so much salesman BS. If his lips were moving, he was lying. Or at least just blowing smoke.

Welcome to TUG. We've missed you.

Jim

I have no idea what this scammer is trying to sell, but no way is any salesman doing anything to "help" you with a timeshare. This is definitely a huge red flag. Do not do anything! They aren't going to sell your timeshare for any kind of profit, either.

Don't believe anything they say, and any person with a job loss and cannot afford fees should not buy anything else. So rescind if you can.

To summarize your post, you bought something and paid it off and a sister property said they will wipe your MFs away for you if you trade in what is paid off and buy something more expensive with higher MFs? How is this a good idea? I don't see it as being a scam. I see it as upselling you legally at zero benefit to you.

HOW TO TELL IF A TIMESHARE SALESPERSON IS LYING?

Their lips are moving!


Pay your MFs - and if you phrase it as a ONE TIME hardship with the unemployment, they might wave the late fee or other fees they charge....

AND RESCIND whatever the other TS company SOLD you ... trust us here at TUG -- the TS salesperson was NOT truthful, only gets paid IF you buy something, is not YOUR financial advisor, and somewhere in that thick packet of papers is a new LOAN AGREEMENT AND PAYMENT schedule most likely in the range of $15,000-30,000 .....

Was I scammed and should I rescind?

Yes and Yes

OK, correct me if I'm wrong but it looks like you went from paying $500 every other year to now paying $580 EVERY year so that you could get a smaller unit in a worse location with poorer trading power. Is that about right? What's wrong with this picture?

Rescind!!! Immediately.