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The Best Way To Save Your Home – Get Rid of Your Timeshare
With the current economic slump, an increasing number of people are having difficulty paying their mortgage, keeping up with their bills and the increasing prices of food and fuel. Worse yet, thousands are finding themselves out of work each month and a lot of homeowners are in danger of losing their homes to foreclosure. If you have a timeshare, it can be especially tough with maintenance fees increasing annually and special assessments in the amount of hundreds or even thousands of dollars can come at any time. It’s a good idea to rid yourself of your timeshare now before things get even worse.
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 never been easy for timeshare owners to resell — a FTC report reveals that over the last two decades, a mere 3.3% of timeshares listed for resale have actually been sold. With the current economic climate, it’s even tougher to sell and it can take a long time; during which you’ll have to pay for advertising and broker’s fees! With those special assessments coming ever more frequently, you can’t afford to wait a second longer than absolutely necessary.
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!
What’s more, charities have known for years that timeshares are not assets. So, many of them have stopped accepting timeshares as donations. Similar to the sale process, finding an organization to even take your timeshare for free will take time. But, time is not on your side when the timeshare bills keep coming.
To keep from having to pay those hundreds, perhaps thousands of dollars for special assessments, you need to get rid of your timeshare. You may not be able to sell your timeshare quickly enough to avoid being hit with these charges and the longer it takes the more stressful and expensive it will be. If you need to be rid of your timeshare quickly, then your best bet is to get in touch with a timeshare transfer company.
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.
Regardless of how you get rid of your timeshare, once it is gone, you will never have to worry about another maintenance fee or special assessment ever again. You’ll be able to turn your focused attention to the necessities, like your home.
Want to get rid of your timeshare? Discover how over 31,000 other timeshare owners solved their timeshare dilemmas. Contact Timeshare Relief for more information. Call 1-866-797-0535 and sign up for a free consultation right now.
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