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The Queen Of Versailles

Friday’s Letter From America

Here we go it’s Friday again, the end of another busy week in the world of timeshare, it does seem to be a world that never sleeps. There is always something new to be reported, be it another “bogus” company or an old company coming up with a new “scam”, the ingenuity of some is beyond belief.

So far this week the news from the Spanish courts has been flooding in, with more owners having their contracts declared null & void and the return of all their money. The intrepid lawyers that form Canarian Legal Alliance have been very busy. Most of these judgements have been from the lower courts, who are applying the Supreme Court rulings with a vengeance, leaving no doubt what the interpretation of the timeshare law is.

Inside Timeshare has also been receiving a great deal of information about one company and their new product, yesterday’s article “New Name Same Company” shows the lengths some will go to appear to be different. Unfortunately for them, some of us can see through their smoke and mirrors, so we shall be keeping a very watchful eye on their activities.

On the “Bogus” law firm front Litigious Abogados and their other associated “lawyers” are still at it, the UK Action Fraud website has been receiving many reports of their activities. Inside Timeshare can also report that the Guardia Civil have an extensive file handed to them for investigation. So we wait with anticipation as to what the outcome will be.

So, now on to this Friday’s article from Irene and Irina, Resale and Rentals.

Consumer Advocate Las Vegas Attorney Bob Massi Launches Season 3 of Property Man in Arizona on Business FOX  

https://www.facebook.com/RealBobMassi/

Two more Timeshare Rs – Resale and Rentals

By Irene Parker – Resales

Irina Allen – Rentals  

April 20, 2017

Sign post 

If you own or are thinking of buying a timeshare – the Bob Massi Property Man show has provided important tips for timeshare buyers and sellers. In Season 2 Florida, Mr. Massi interviewed members of the Licensed Timeshare Resale Broker Association. The LTRBA members offered important tips for consumers interested in buying a timeshare as well as tips on how to avoid a scam when a timeshare member or owner needs to sell.

https://www.youtube.com/watch?v=VHCdcS2Ds-U

As a follow up to Mr. Massi’s prior timeshare segments, my husband and I were interviewed to express concerns and problems faced by Diamond Resorts International timeshare members. There are many who use and enjoy their Diamond timeshare, but as has been widely reported, rising maintenance fees and the lack of a secondary market can spell disaster for families who need to get out from underneath their Diamond timeshare. Timeshares can cost $100,000 or more so walking away with nothing can financially devastate families.

Our interview airs this Friday, April 21 at 8:30 PM EST on FOX Business. Las Vegas attorney Bob Massi has been a champion consumer advocate for the underdog. While showcasing spectacular homes of the wealthy, he also contrasts the flip side of wealth by interviewing consumers struggling with faulty or predatory lending practices.

Mr. Massi interviewed my husband and me after receiving a multitude of complaints after his segment featuring the home of Jackie and David Siegel. The Siegels own Westgate Resorts, a timeshare company based in Florida. The segment, “The Queen of Versailles” resulted in a multitude of complaints about timeshare. The Queen of Versailles is the name of the documentary featuring the Seigel’s massive 90,000 square foot home with 30 bathrooms, a 20 car garage and a 4,000 square foot clothes closet. The original documentary took Best Director at Sundance. Many wealthy Americans have built large homes, but with enough complaints to prompt a two year Consumer Financial Protection Bureau investigation of Westgate’s business practices, I wondered about such wealth at the expense of timeshare owners unable to sell and sometimes not even able to give back their timeshare.

Mr. Massi’s Licensed Timeshare Resale Broker Association segment warned timeshare owners to work through a licensed timeshare broker. Ironically, FOX Celebrities Dave Ramsey and Laura Ingraham are paid to endorse firms like Resort Release, transfer agent firms licensed timeshare brokers warn consumers to avoid.

http://thetimesharecrusader.blogspot.com/2016/11/an-open-letter-to-dave-ramsey-and-laura.html

A sequence of events led up to our interview with Mr. Massi. My husband and I attended a grueling and demeaning timeshare presentation at Diamond Resorts Grand Beach Resort July of 2015. We had purchased two Diamond contracts with few problems, but when I witnessed the tactics being used during this predatory sales presentation, I became alarmed. I returned to our unit at Mystic Dunes, turned on the television, watched “The Queen of Versailles”, and wondered how the wealth was won.

I wrote to Mr. Massi about my concerns. Never dreaming a response, I was surprised to receive a call from a FOX producer asking if my husband and I would be willing to be interviewed by Mr. Massi. Having just accepted a position as an interim music director, I declined, but was contacted again six months later and agreed to the interview. The producer said they had a multitude of responses to their first timeshare segment, but I was the only one invited to be interviewed, as I was the only respondent who wanted to talk about the positives, in addition to the negatives of timeshare.

To prepare for the interview I contacted LTRBA member David Cortese of Magical Realty in Orlando and asked if he would list our Diamond points. David was one of the LTRBA members interviewed by Mr. Massi. David sadly informed me he doubted that any of the LTRBA members would our list Diamond points as they felt the restrictions the company places on the use of secondary points are more onerous than that of any other major timeshare company.

To me this sounded like unfair business practices and a violation of fair trade. I filed a complaint with the FTC, but they just sent an autoreply pointing me in the right direction. If thousands of people complain, they go to Congress to enact better laws. That hasn’t happened.

Timeshare attorney Mike Finn of the Finn Law Group maintains a steady 500 timeshares cases. Mr. Finn said about 20% to 25% of his timeshare cases are against Diamond Resorts. He said he has never had a Disney client. I asked Mr. Finn why legislators have not addressed the harm done to consumers when a perpetual contract does not have a secondary market. A secondary market is not to be confused with a voluntary surrender or exit plan as those leave the consumer who has spent $25,000 to over $100,000, often financed at 12% to 18% interest, with nothing. The timeshare developer takes back the points and resells for full value.

“Instead of shunning the secondary market, embrace it; the developers should invest some of their profits into stabilizing the resale market. Take the lesson the auto, boat and camper industries have long ago learned, that a healthy resale market is essential to the entire industry, from beginning to end there must be a continuous flow, a circle of economic life, if you will. If you can’t set up a used timeshare lot across the street from your project, at least sponsor knowledgeable licensed real estate brokers well offsite so as not to compete directly with your retail operations. Sure you’ll lose some initial business to these brokers, but by indirectly supporting these brokers, you’ll make timeshare interests affordable to the folks who really can’t afford to buy retail, but can perhaps afford to repurchase the interest of your newly divorced initial purchaser (something that you arguably owed the poor gal or guy anyway) and, more importantly perhaps, support the continuing financial health of the resort via the annual maintenance payments now to be made by the new owner, and ever crucial to the future of the resort you built and developed. Timeshare developers could take pride, not just profit, from making family vacations an affordable part of the American lifestyle by opening up that opportunity to even more folks!”

http://www.finnlawgroup.com/learning-center/the-unconscionable-suppression-of-the-timeshare-resale-market

“Timeshare doesn’t need new litigation to assist the establishment of a re-sale market. All they need to do is support it from a market standpoint! They clearly have zero interest in doing that,” Mr. Finn added.

The Second R: Rentals (to be continued)

Part I – The 3Rs or F of Timeshare

http://insidetimeshare.com/3-rs-timeshare-part-1/

Part II – The 3Rs Resolution, Relinquishment, Refund

http://insidetimeshare.com/part-ii-three-rs-timeshare/

If you or someone you know has a timeshare problem, contact Inside Timeshare or one of our Advocacy groups. Our advocates are members helping other members, bringing our experience and knowledge to other members or owners while providing a clearinghouse of information about legal and legislative issues facing timeshare today.

Diamond Resorts has implemented a new Clarity Program after the Arizona Attorney General issued an “Assurance of Discontinuance” and an $800,000 settlement. Diamond also has a Consumer Advocacy Department that claims to help members from Day 1 if they have concerns about their membership or purchase.

Timeshare owners worldwide would like to thank Mr. Massi and Business Fox for bringing this important topic to the attention of the public in America, Europe, Australia, New Zealand and the Philippines. Inside Timeshare works with contributors and timeshare members in an ever expanding horizon.

We seek to provide Diamond Resort members a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers.

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

https://www.facebook.com/timeshareadvocategroup/

Jigsaw men

So there we have it, the end of another week, Inside Timeshare again thanks Irene and Irina for their contribution, we also thank all who have contributed information to help others. Next week we will be highlighting another military family who have fallen foul of the sharp practices of some timeshare sales agents. These stories are all too familiar, the consistency of the testimonies of different families bares witness to some very nasty sales techniques.

If you have a story to tell or have any information about a company that you would like to share with others, Inside Timeshare would love to hear from you.

Have a great weekend.

friday cat

Europe: Silverpoint News. US: News from Irene

Recently Silverpoint has been making the headlines due to the rulings against them not just at the Supreme Court, but all the lower courts on Tenerife have also followed suit.

Now it has been announced that Silverpoint has withdrawn its membership to the Resorts Development Organisation (RDO), this will come as a blow to the timeshare industry trade body, as Silverpoint was a major contributor.

Another announcement was from The Association of Timeshare Owners Committees, (TATOC), only recently Silverpoint downgraded their membership from Platinum to Silver, now they have withdrawn their membership completely. Again Silverpoint was a major source of funding to TATOC. So the donation to them of $30,000 by ARDA has come at the right time. TATOC have also stated that the following resorts will remain affiliated members: Palm Beach Club, Hollywood Mirage Club and Beverly Hills Heights. We also have to remember, part of Beverly Hills Heights is being sold off, with many members being moved to other apartments or to the Hollywood Mirage.

beverly hills heights
Beverly Hills Heights

Silverpoint have also announced that they will no longer be selling “Timeshare”, well that is a surprise, as according to them in their own evidence to the courts, they sell affiliations to a club and “weeks to investors” and this was not timeshare. Fortunately the Supreme Court did not agree with them, this court stated they did sell timeshare, that the so called “investors” were in fact consumers of timeshare.

Many of these cases have been reported here on Inside Timeshare, for more information on this have a look at the Canarian Legal Alliance website news section. All the Supreme Court judgements have been published by them.

https://www.canarianlegalalliance.com/category/silverpoint/

So now the question has to be asked, what are they going to be selling if they are not selling timeshare?

Rumour has it, from very reliable sources, Silverpoint are going to be selling “Holiday Packs” and “Freehold Property”. Obviously, if they have withdrawn membership from the timeshare industry trade body, the “holiday packs” will not be coming under timeshare law, so what will that be regulated by?

On the “Freehold” side, is this going to be full freehold or is it going to be a rehash of Fractional?

Is this going to be regulated by Real Estate Laws?

Another question that needs to be asked is, could all this be down to the the courts now rejecting Silverpoints defence and finding at last in favour of the consumer?

Will the RDO and TATOC also now acknowledge the fact the law in Spain as laid down by over 50 Supreme Court rulings is correct?

Only time will tell, we will be keeping an eye on developments and report them here, as and when the news comes in.

Today we also publish another story from our US writer Irene, in this short article she announces the start of the new series from Fox News Property Man Season 3 with Bob Massi.

Bob Massi is a renowned Nevada lawyer with many years experience as well as a TV celebrity.

Irene and her husband Don will be on his show on 14 April, they recorded an interview segment some time ago with Bob Massi, on their own timeshare experiences. So Irene and Don have become “timeshare TV rock stars”. (I must get their autographs).

rock star cartoon

FOX News Property Man Season 3 Premiere airs Friday April 7

Follow up to first timeshare segment “How to Get Rid of Your Timeshare”

news paper

By Irene Parker

April 5, 2017

Season 3 of The Property Man with Bob Massi will begin airing this Friday, April 7th at 8:30 PM ET on FOX BUSINESS NETWORK. The show will continue to air on Friday evenings on Fox Business Network (FNC’s sister channel) at 8:30 PM ET.  We are looking forward to Season 3 in Arizona airing and wanted to thank all of you for joining us on the show.  I will send individual emails to all of you with the exact air dates for your segment(s).  We welcome all social media promotion and interaction:

Bob Massi Facebook: www.facebook.com/RealBobMassi

Bob’s prior Timeshare Segment featuring Licensed Timeshare Resale Broker Association Members:

http://insidetimeshare.com/?s=bob+massi

Bob Massi Twitter: @RealBobMassi

In case you haven’t checked out Property Man website and clips,

http://www.foxnews.com/shows/the-property-man/index.html

http://video.foxnews.com/playlist/on-air-the-property-man/

calender sheets

My Vacation Plan has turned my life upside down. Let’s review the timeline.

July 2015 I attended a timeshare sales presentation where my husband and I were blatantly lied to. The same day I learned 4500 hundred promised exchange points were credited only 3000 the third year I used the program. I turned on the television and watched Las Vegas Attorney Bob Massi, host of Property Man air “The Queen of Versailles” about Westgate timeshare owners. I wrote to Mr. Massi and was selected for an interview because, out of a multitude of respondents, I was the only one who wanted to talk about the positives of timeshare, in addition to the negatives.

http://insidetimeshare.com/?s=peasant+of+venice

Second, advocacy efforts contributed to the Arizona Attorney General’s $800,000 settlement against Diamond Resorts and the issuance of an “Assurance of Discontinuance.”

http://insidetimeshare.com/?s=arizona+attorney+general

Last, but not least, one of the oldest law firms in Nevada filed a billion dollar class action against the company. A motion is pending, as reported by Irina Allen.

http://insidetimeshare.com/timeshare-news-across-atlantic/

http://insidetimeshare.com/?s=billion+dollar+lawsuit

Diamond Resorts was acquired by Apollo Global Management. Apollo was founded by banker Leon Black. Mr. Black also founded Drexel Burnham Lambert of junk bond fame. When DBL declared bankruptcy, Mr. Black founded Apollo.

https://www.thestreet.com/story/13624491/1/is-apollo-returning-to-its-junk-roots-with-its-acquisition-of-diamond-resorts.html

Stay tuned to Inside Timeshare and FOX News Property Man for upcoming turns of events.

Advocacy Works!

http://insidetimeshare.com/?s=advocacy

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

around globe

Related story: FOX Celebrities Dave Ramsey and Laura Ingraham endorse

http://thetimesharecrusader.blogspot.com/2016/11/an-open-letter-to-dave-ramsey-and-laura.html

So there we have it, Silverpoint no longer selling timeshare, the RDO and TATOC losing a major source of revenue and long standing member.

Consumers purchasing in Spain now being protected by the strongest timeshare laws in Europe, with massive payouts for past infractions of these laws. Let us hope that other countries will enforce the law to the same degree and protect timeshare consumers all over Europe, no matter where they bought. After all, that is what the EU Directives on Timeshare were put into place.

If you have any questions about this article or any published on Inside Timeshare, contact us and we will try to answer them for you. If we don’t know the answer we will find out for you. If you have been contacted by or are looking at dealing with any company and want to know more Contact us and we will point you in the right direction.

More News from Across the Pond

With the US Presidential election now coming to a close over the next week, Irene Parker, who collaborates with Inside Timeshare on matters which affect timeshare on both side of the Great Lake (or Pond as our American friends call it), has sent in her most recent article.

It very much focuses on the political game that is affecting timeshare in the US, showing how it splits into Republican and Democrat, as she explained, the industry is very much pro Republican, the Trump camp, the Democrats seem to be supported by the timeshare owners. We should not be surprised by this.

Irene has very often commented on the documentary “The Queen Of Versailles”, the wife of the owner of Westgate, David Siegel. It shows the 90,000sq ft property they have been building as their home. It is quite staggering, with a walk in wardrobe (sorry closet), bigger that most homes in Europe. Irene has in many writings dubbed herself “The Peasant of Venice” in contrast to The Queen. Have to admit Irene does have a great sense of humour. Irene claims it’s not humour if one studies Polish and Russian history and the need for peasant uprisings.

Irene opens her article on the New York Manhattan Club, when the Democratic New York Attorney General Eric Schneiderman halted trading of timeshare. As you will see from her article, it is a very murky world indeed, the lines between timeshare and politics are blurred to say the least. Enjoy her article it reveals a lot.

Timeshare Battles Split Down Political Party Lines

October 26, 2016

By Irene Parker submitted to Orlando Sentinel

Democratic New York Attorney General Eric Schneiderman made headlines taking on presidential candidate Donald Trump and the Trump Foundation. Mr. Schneiderman claimed the Foundation did not meet certain administrative requirements necessary to receive donations in New York.

In addition to challenging Trump, Mr. Schneiderman has also taken on another developer and billionaire, Bruce Eichner, and Eichner’s Manhattan Club timeshare. Mr. Schneiderman halted timeshare sales at the Manhattan Club due to allegedly fraudulent sales practices involving a “bait and switch” scheme. Manhattan Club buyers learned there was a lack of availability for those who purchased memberships, while the general public could easily book online. A court battle that began in 2014 continues today.

The New York Post unleashed an onslaught of criticisms against Mr. Schneiderman accusing him of picking his fights based on political motives.

Republican Florida Attorney General Pam Bondi created her own headlines when she accepted a $25,000 donation from Donald Trump while considering whether to participate in a Trump University investigation. Her investigation was dropped after receiving the donation.

There is an eerie similarity between Trump U and timeshare sales, illustrated in an extraordinary CNN interview between Trump U salesperson James Harris and CNN investigative reporter Drew Griffin. Not all timeshare sales agents are predatory, but complaints about overly aggressive sales tactics abound.

In the CNN interview, Harris is accused of exploiting the elderly by selling them classes averaging $34,000 and then “up selling” them to attend more classes. In rogue timeshare presentations, an average timeshare week costs $25,000 and after the initial purchase, owners are barraged to purchase additional points or weeks.

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