Timeshare

[mighty306]

So I was just given a South Florida timeshare as a wedding present. Dump it now and pay off credit card debt or do I have any reason to hold it?

 

[bran987]

So I was just given a South Florida timeshare as a wedding present. Dump it now and pay off credit card debt or do I have any reason to hold it?

dump it if you can. that market is about to get ugly. You will get a certain 15% or 20% return on your money by paying off the credit card debt (assuming that's the rate you're being charged), versus most likely losing money on that timeshare over the next couple of years as that market slowly becomes glutted with investor units being foreclosed on because of nonpayment of ARM mortgages etc.