Investing in real estate often comes with the opportunity to rent out the property for income, potentially sell it and enjoy special tax breaks. But purchasing a timeshare, which isn’t considered a true piece of real estate but rather a right to use vacation interval options, doesn’t carry the same benefits for owners. And it […]
Timeshare Debt – What Happens If You Can’t Get Rid of Your Timeshare? Read More »
A timeshare contract is unique among consumer contracts, in that it typically creates a non-cancellable lifetime obligation. In exchange for a vacation ownership interest in a resort condominium, timeshare buyers pay tens of thousands of dollars in upfront or finance charges, and are responsible for annual maintenance fees and property taxes. These costs can rise
Timeshare contracts can be a great way to enjoy vacations without the hassle of finding a hotel room, renting a car or booking airfare. But they can also be very problematic. Many consumers find themselves struggling with onerous financial obligations or reselling fees, and often seek to exit the contract. However, it is important to
Timeshares can be great, giving you a vacation home away from home year after year. But many people buy these properties with financing from the developer, and the interest rates can be high. One option for lowering your rates is refinancing to a personal loan, which can offer much cheaper rates. However, it’s important to