When owners of a property shares ownership of a vacation property it is considered a timeshare. Throughout the foreclosure crisis in the country, timeshares have not been hit too hard until recently when one of the largest timeshare corporations in the United States has faced foreclosure in one of their locations. Wyndham resorts have opened up new locations in several states, but are now finding that there are not enough buyers to keep them afloat.

In Durango, Colorado there were 33 Wyndham timeshare condominiums that foreclosed. A foreclosure sale is scheduled for May 21, 2009. There are 16 owners among the 33 units and each owes about $10,000. Some of the foreclosures are owned by several people for one unit. Even though a few owners are able to continue paying their payments on the timeshare there are others that are unable to and are being foreclosed on. Without enough buyers able to pay on their portion of the timeshare they end up in foreclosure.

In Orlando, Florida Wyndham resorts are a subsidiary of Wyndham Worldwide which is a part of the corporation that own hotels and inns such as Ramada and Super 8. They have revenues of more than $4 billion. Timeshares in Florida are being rented out for up to $1,150 a week. The Wyndham Corporation eliminated around 4,000 jobs and also pulled back on more timeshare development especially due to the foreclosures in Durango.