The Best Way To Save Your Home – Get Rid of Your Timeshare
Times are tough at the moment, with a lot of us having a hard time juggling our mortgage, paying the bills and keeping the gas tank full. At the same time, people are being laid off by the thousands and wave after wave of home foreclosures are sweeping across the country. If you happen to own a timeshare, then things are even worse. The maintenance fees keep going up every year and owners are frequently invoiced hundreds or even thousands in special assessment fees. Now is the time to get rid of your timeshare before the added expense causes even more economic stress on your household.
If your timeshare is financed, then you’ll want to pay everything off as soon as you can. This will get rid of those interest payments which can be very high on their own (and unlike the interest payments for your primary residence, these payments are not tax deductible). Additionally, you’ll find it difficult, if not impossible to sell your timeshare if there is still a mortgage on the property. With so many other timeshares on the market that no longer have mortgages, it is extremely unlikely that you’ll find a willing buyer.
It’s always been tough to resell a timeshare; a report from the FTC tells us that only 3.3% of timeshares listed by owners have been sold in the last twenty years! Given the state of the economy at present, a timeshare is an especially tough sell. You may have to wait a long time to sell your timeshare — and you’ll have to pay for advertising and broker’s fees, even as you continue to pay for maintenance and special assessments! You need to get rid of that timeshare right away to be rid of this financial burden.
If you’re thinking about renting out your timeshare, realize that a special assessment bill could be on its way to your mailbox. The net effect would be losing money and you wouldn’t even go to the resort!
Many charitable organizations no longer accept timeshares as donations because they know of their long-term cost and liability. So, like finding a proper buyer, you may end up spending a good deal of time finding a charity that will accept your timeshare. There’s no guarantee with donation and the timeshare bills will not wait for you.
If your checkbook cannot handle a sudden $1,000+ special assessment with the possibility of future fees, do your best to part with your timeshare as soon as you can. As you have read, trying to discard it yourself may or may not quickly end in success. Meanwhile, the time spent waiting will only build more stress on yourself. So, if you want a fast solution, go to a timeshare transfer company to get relief from your timeshare today.
A timeshare transfer company can get the timeshare out of your name so that you won’t be responsible for any further assessments or maintenance fees. Of course, there will be a fee for this service but when compared to the cost of owning a timeshare, it’s a small price to pay. The transfer can be done very quickly and once the contract is signed, you won’t be liable for any expenses related to the timeshare.
Be sure to go with a transfer company with a long track record. The company should be in business for a minimum of four (4) years. This rule of thumb will eliminate nearly all of the transfer companies that are not looking out for best interest of their customers. Also, check the Better Business Bureau for ratings. No company is perfect and without complaints. But, verify that the complaints on the report are addressed and that the company has a high rating.
No matter how you go about it, getting rid of your timeshare frees you from the financial and emotional stress of maintenance fees and special assessments — which lets you focus on more important matters like ensuring that your mortgage is kept in good standing.
Want to get rid of your timeshare? Find out how over 31,000 other timeshare owners solved their timeshare dilemmas. Contact Timeshare Relief for more information.
Tags: get rid of timeshare, Personal Finance, sell timeshare, time share, timeshare, timeshare relief, timeshare resale, tourism, travel, vacation
