Deedback Solutions, a division of Reservation Services International (RSI), has confirmed a strategic partnership with Stewart Title Co. to provide a professional and seamless service that sees the return of recovered timeshare inventory to a resort or its designee.
Since 2008, the real estate market has been devastated by the global economic downturn. Timeshare real estate is no exception. Owners are defaulting at rates never before seen.
“When owners default, resort developers and Home Owners Associations have little choice but to raise fees or impose assessments to cover the delinquencies of these defaulted owners,” RSI stated. “This in turn, causes more owners to default due to the increased or additional fees creating an almost irreversible effect.”
Deedback Solutions has developed a program specifically to help resurrect delinquent owners and generate revenue from inactive accounts using state of the art contact methodology designed to engage the owner. The program regains control of resort inventory while circumventing ongoing collection calls or expensive foreclosure costs. The program also provides a way to monetize a resort’s remaining and recovered inventory through the RSI travel club.
Deedback Solutions believes the partnership with Stewart will further improve the program by combining the expertise of the two companies. This provides security for timeshare owners when choosing such a program as a way to avoid foreclosure.
“We were able to gain control over a significant number of property deeds that we may never have been able to and we also revived a surprising number of our nonpaying owners that elected to continue with their ownership,” said Shawn Banks, broker-in-charge at The Highlands at Sugar, N.C. “I would recommend anyone considering use of the Deedback system to do so; this was a win-win for all parties.”
RSI has more than 250,000 dues paying members with offices currently located in Florida, Georgia and North Carolina.