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 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.
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.
You could try to rent your timeshare. Even if you are able to rent it, the income may not be enough to pay for your maintenance fees or that surprise special assessment. Is losing money and not going to your timeshare resort worth the hassle?
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 you’d like to avoid these surprise charges for special assessments (which can be in the thousands of dollars), then you’ll want to get that timeshare of your hands as quickly as possible. Trying to handle the sale on your own can have mixed results; and the longer you wait, the more fees you’ll end up being assessed with and the more stressful the experience will be. The best way to go if you want to get rid of your timeshare in short order is to work with a timeshare transfer company to get rid of your timeshare right away.
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.
You’ll want to choose a timeshare transfer company which has been in operation for at least four years; this will weed out the fly-by-night operations. You should also look up any company you are thinking of working with at the Better Business Bureau. Of course, no company has a track record which is completely free of complaints; but you should make sure that complaints have been addressed by the company and that it is highly rated by the BBB.
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? Discover how over 31,000 other timeshare owners solved their timeshare dilemmas. Contact Timeshare Relief for more information. Call 1-866-797-0535 and request a free consultation right now.
categories: get rid of timeshare,timeshare relief,sell timeshare,timeshare resale,timeshare,time share,travel,tourism,vacation
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