Tag Archives: ending timeshare contract

Timeshare Mortgage

When buying a timeshare there are many things the average consumer does not know, and the old saying what you do not know will not hurt you, does not apply to a timeshare.

Here are the Top 5 things you need to know about a timeshare mortgage and how it is different from a regular home mortgage:

  1. The number one thing you need to know about a timeshare mortgage is that the interest rate is significantly higher than a home mortgage. Usually the interest rate is “Between” 13% to 18%.
  2. The second most important thing about a timeshare mortgage is that you cannot refinance for a lower rate. Even though you were told this at the closing by the sales staff.
  3. Generally all timeshare mortgages are 7 to 10 years long and cannot be extended or amended.
  4. Having a timeshare is not an ASSET and owing a mortgage on something with no value will greatly affect your credit and buying power.
  5. No matter what the timeshare sales staff told you cannot cancel the mortgage if you are unsatisfied with the timeshare. It is legally binding just like your home mortgage and the only way to get out of the mortgage is to pay it off.

These are the top 5 things you need to be aware of when purchasing a timeshare and getting a timeshare mortgage. Most people fall for the sales pitch and believe that they can refinance for a lower rate with their own bank, or can cancel their mortgage if they are unhappy, or many of the other lies told to get you to buy the timeshare. But there is help, Timeshare-Answers specializes in helping consumers get out of their timeshare mortgages and recover money they have paid the resort. We have helped thousands of timeshare owners and have cancelled over 45,000,000 in mortgages and recovered over 1,500,000 of timeshare owner’s money.

Call us today and GET OUT OF YOUR TIMESHARE MORTGAGE. 1-888-722-2648