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Timeshar cancellation
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timeshare exits

Can Your Timeshare Get Foreclosed On?

Timeshare exits are happening at incredible rates, largely thanks to companies helping people break free of their overpriced timeshares. Timeshares are not only a bad investment; if you don’t pay up, your credit can take a huge ding. Many timeshare investors ask if their timeshare can be foreclosed on. If you own a timeshare, you need to read this.

The Short Answer

If you’re wondering if not paying your timeshare would put you in foreclosure, the short answer is yes, it can. If you’re thinking about timeshare exits and considering simply not paying for your timeshare anymore, don’t take that route. The consequences could be dire. You may be thinking, “How bad could foreclosure be? I don’t want my timeshare anyway.” However, the truth is that foreclosure can have long-term repercussions on your financial life.

Credit Problems

You may pay every one of your bills on time. You may keep your credit utilization low. You may do everything you should do to maintain a good credit score, but that timeshare foreclosure will drop your score way down. If you try to buy a car or a house or take a personal loan, that foreclosure will be on your credit report, and lenders will see it. It won’t appear as a timeshare foreclosure. It will just look like any other foreclosure to lenders.

You Don’t Hurt Anyone But Yourself

You’re not hurting the developer by letting your timeshare go into foreclosure. You’re helping them out by enabling them to resell your timeshare to the next person. In fact, according to a recent study by Ernst & Young, 56% of reclaimed timeshares resulted from foreclosures. The developer was able to collect your money for however long you paid, and now they get to collect more.

There Is a Better Way

There are better ways to exit your timeshare than letting it get foreclosed on. You don’t have to do anything drastic to be free of the timeshare nightmare — timeshare exits can be worked out when you have the right support. Don’t make any desperate moves to get rid of your timeshare before speaking to a professional. Contact Lonestar Transfer today to learn more about how our team of experts can help you exit your timeshare.

Why Trust us

Testimonials
Timeshare exit call to action

Our primary service is our title transfer service. This service helps timeshare owners by legally transferring their timeshare property title out of their name. Once the transfer is complete, all financial liability and obligation is removed.

Timeshare owners that still have a mortgage on their timeshare may qualify for our Timeshare mortgage cancellation which is the most successful timeshare exit strategy available. Throughout this process we work directly with you to cancel your timeshare with the resort where you purchased it.

Please call our office today for a free consultation

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Every clients situation is unique and therefore the costs vary.

After your consultation we will give you specific cost and a guaranteed time of completion in writing for your exact situation.

We provide a 100% written guarantee and have earned glowing testimonials.

Every clients situation is unique and therefore the costs vary. After your consultation we will give you specific cost and a guaranteed time of completion in writing for your exact situation.

We provide a 100% written guarantee and have earned glowing testimonials.

A recession period is outlined in your timeshare agreement and is usually 3-10 calendar days where you can cancel your timeshare contract. Each state and resort have different guidelines for this, which are outlined in your contract. If you happen to be in your recession time period, you can cancel your timeshare. Be aware that timeshare companies will often make it very difficult to contact them and cancelling often requires filling out paperwork and mailing it in.

If you are in your recession period, act quickly. You can also contact our team for help cancelling your timeshare.

Call our office today

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Timeshares are difficult to cancel due to the nature of the contracts that timeshare companies and resorts use. Recession periods are generally very short and difficult to navigate. Writing a letter to cancel your timeshare is often lost or not received by the resort, or that is what they’ll say.

Our team of experts know how to navigate the process and guarantee your freedom from your timeshare.

Call our office today

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