My family is under a tough time now. We have 2 little girls, we just bought our first home, and suddenly financial troubles hit. I lost my job, and although I am looking, I can’t find another one. We have this timeshare that we have to make payments on every month. It’s frustrating because we don’t want the timeshare and we can’t even afford to use it. We need the money to pay our bills. We just need to sell the timeshare, but we don’t know what site will sell it fast. Please help.
How much do you owe and how much do you want for it? Defaulting will screw the credit up and they may need that credit to get by.
This depends if you’re a weeks or points owner.
If a weeks owner, contact the resort where you own your weeks. Speak with the folks in the mortgage dept, and ask their procedure for giving back the week. There will be some forms that have to be notarized and sent back to them.
You won’t get paid for your equity, but it will be off your back, without your credit taking a dive.
Timesharesonly.com is a way to try to sell it, but there’s so much stock there that it’s a buyers market.
Example, I own a week at Vacation Village at Bonaventure in Westin Fl. VV is a gold crown resort, red time. I paid $12,000 for it in 2000. I can buy the same week, same resort, on timesharesonly.com for $3000.
Good luck!
Unless you have a lot of "equity" in that timeshare, a quick sale probably isn’t going to happen. And if you do have any equity, it will be gone but so will the payments.
If worst comes to worst, let the timeshare go to forclosure. Your cash flow will improve and at least you’ll still have the roof over your head — that’s priority one right now.