With the economy bringing about tough times, more and more timeshare owners are realizing that they have to let go or suffer the consequences of hefty annual maintenance fees. Timeshare owners in New Jersey agree, with almost 30 of them at the Fairway Villas at Seaview, located in Galloway Township, having resorted to sheriff's sale over recent weeks.

To make matters worse, there have been no takers of their property offers. Atlantic County Sheriff's Department clerk Jillian Taylor shares that she has "never seen one go to a third-party bidder" ever since she started working in sales a few years ago.

Fairway Villas timeshare properties, numbering 27 total, have been posted up for sheriff sale dating back to the first of January this year, explains Deputy Sheriff Ted Kammer. Owners of 19 out of the 27 properties have been forced to revert to condominium association and even to bank lenders while 8 are still pending sale.