A global pandemic isn’t exactly something you can anticipate or really even prepare for. Within weeks, each of our lives have been altered in some way shape or form. No matter how social you were before, we’re all getting used to the disappearance of familiar faces and places.
Although it may be difficult to make a timeshare payment right now, facing reality can help you avoid a number of devastating outcomes. At some point, the resort has to acknowledge the aftermath of a pandemic. Staying in communication with them is the best thing you can do – even if making payments isn’t an option.
While the timeshare purchase is sold as an affordable expedition with ideal dates that are too good to pass up – you must understand that you’re still going to pay a premium to vacation this way. Nothing is guaranteed unless it is in writing and you should remain skeptical until evidence is presented or you’ve had time to compare your options.
Floating the idea that buyers can effortlessly resell or rent a timeshare is down right criminal to say the least. But resorts aren’t the only entities that deceive fractional owners. Learn more about the process of leasing timeshare intervals and why it’s risky business for nearly any type of consumer or investor.
After speaking with thousands of timeshare owners over the years, we’ve confirmed that a majority are completely misinformed on the way the resale market works. Some of our clients were even told that purchasing multiple agreements creates multiple revenue streams that’ll cover the purchase while allowing them to travel nearly anywhere.
When seeking timeshare relief, owners normally have no idea where to begin. Most file complaints or join online conversations to share their story with users who’ve experienced similar misconduct. When complaints aren’t pursued to their satisfaction, they have no choice but to find someone who can advise them on what to do with their timeshare.
Annual timeshare fees for maintenance and special assessments can really add to the constrained burden of fractional ownership. Receiving unforeseen charges that weren’t even included in the contract can be maddening. Especially when these invoices arrive in owner’s mailboxes during the holiday season.
For the most part, fractional ownership is one of those major purchase decisions that can be a shot in the dark. Whether potential buyers know nothing about timeshare travel or they are fully aware of the industry’s pitfalls, both are essentially rolling the dice when they don’t thoroughly analyze what they’re signing up for.
Most owners are eager to refinance their timeshare because they’ve been battling high interest since making the purchase. Like we’ve mentioned before, timeshare presentations do a great job of misleading potential buyers. Many would have never signed the agreement had the timeshare salesman not told them they could revise their borrowing rate shortly after signing.
At some point in time, you’re going to have to realize that whatever you were promised during the timeshare presentation is questionable at best. To the timeshare, it never happened if you can’t prove it. You’ve signed an agreement and they’re going to do everything in their power to collect the payments you already acknowledged – whether you agree or not.
When it comes to most major purchases, borrowing money is a common way to get what you want. The ability to easily do so in today’s culture is the main reason why so many people are in debt. Things that used to be out of reach can be had for “affordable” monthly payments.
Timeshare companies continue to prove they have no interest in improving timeshare products or the overall experience of the purchase. Now that people are canceling vacation ownership more than ever before, developers are frantically trying to slander relief while attracting new buyers.
Before selecting an interval exchange company, you have to understand what you’re exchanging so you aren’t taken advantage of. A timeshare interval is the actual length of time that you bought from the resort. While most time periods come in week-long intervals, some resorts sell one tenth or a quarter (year) intervals.
Many timeshare owners despise the sight of their annual timeshare maintenance fees. They just so happen to arrive in the mailbox during this time of the year. Just in time to spread, or kill, some holiday cheer. If money is tight or the timeshare owner is simply fed up with the expense, they might consider doing something drastic. Some might look to make a statement and seriously consider walking away from timeshare maintenance fees altogether.
At first glance, it may seem like unhappy timeshare owners are fools or bad investors. But, it’s important that we understand their perspective. Getting out of a timeshare mortgage is easier said than done. A lot of people actually think it’s impossible. Even when the property is paid off, it’s extremely difficult to escape the grasp of timeshare companies.
