| Get Rid of Your Timeshare and Use The Money To Pay For Your Home |
| Articles - Lifestyle |
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During these harsh economic times, it's stressful enough to think about how to pay for your home mortgage, putting food on the table, and filling up the gas tank. So, as foreclosures reach all-time highs and thousands of people are losing their jobs each month, timeshare owners have actually been billed special assessment fees for hundreds, and in a number of cases, thousands of dollars. When added to rising maintenance fees paid every year, homeowners should consider getting rid of their timeshare(s) before it's too late.
During these harsh economic times, it's stressful enough to think about how to pay for your home mortgage, putting food on the table, and filling up the gas tank. So, as foreclosures reach all-time highs and thousands of people are losing their jobs each month, timeshare owners have actually been billed special assessment fees for hundreds, and in a number of cases, thousands of dollars. When added to rising maintenance fees paid every year, homeowners should consider getting rid of their timeshare(s) before it's too late. If you are financing your timeshare, you must pay it off as quickly as possible. First, you'll end your interest payments that make your timeshare even more costly. Remember, these interest payments are not tax deductible like the interest payments for your primary home mortgage. Secondly, by having a mortgage on the timeshare, the likelihood of getting an offer is the same as seeing flying elephants. There are simply too many timeshares for sale on the market without mortgages. The timeshare resale market has historically been a difficult one for sellers. In a report by the FTC, only 3.3 percent of timeshares listed have been sold on the resale market over the last 20 years. Attempting to sell it in today's economic climate may prove even more difficult. You may end up waiting for a long time even after spending good money on advertising and broker fees. It's time wasted that you can ill afford not knowing if a special assessment is on its way. 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! Furthermore, fewer charities are taking ownership of timeshares because of the inherent cost and liabilities. Again, like selling, donating your timeshare may take too much time to find a proper charity that will take it. Unfortunately, the clock is always ticking and the next timeshare bill may be just around the corner. 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. These timeshare transfer companies will get your name off of the timeshare so that you will no longer be liable for any of the maintenance fees or special assessments. You'll need to pay a fee to the transfer company of course, but it is far less expensive than continuing to own your timeshare and can be done quickly. You sign a contract and following this, you will no longer bear financial responsibility for the property. 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. Whether you go with a timeshare transfer company or sell it on your own, when you get rid of your timeshare you also free yourself from a financial burden and a great deal of stress. This lets you turn your attention to the important task of keeping your home! DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. Want to get rid of your timeshare? Discover what over 31,000 other distressed owners did with their unwanted timeshares. Contact Timeshare Relief for more information. Dial 1-866-797-0535 and request a no-cost consultation right now. |