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Timeshare Mortgage & Maintenance Fee Cancellation
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Every month, you get a bill from your timeshare company asking for a mortgage or maintenance fee payments. You probably have noticed over the years these fees have just gone up without you even knowing. If this sounds like your situation, we’re here to provide you a few options so you can exit your timeshare. Timeshare mortgage and maintenance fees tend to increase based on your timeshare contract. If you were not aware, the maintenance fees can double or triple in the 10-year time frame. Some timeshare contracts have maintenance fees that can increase up to 25% a year, something that should be avoided at all costs.


Is your Timeshare an Asset?

During the presentation, your timeshare sales representative may have misled you by stating your timeshare purchase will be beneficial or increase in value. If this sounds like your situation, you have a valid case. The majority of the time, the salesperson violates timeshare laws and regulations by the statements they make, and that is your way out. If you feel that you were told multiple lies to sign the contract or if the salesperson used emotional tactics claiming you are family, then you have a legal ground to get out of your money pit of a timeshare.


 


When you purchase a timeshare, your mortgage is financed either through the resort where your timeshare is located or a third-party Timeshare Freedom Group company that works for the resort. The first thing our team recommends is to contact your resort and see if they have an option for you to exit your timeshare legally. If you are a lucky owner and own with either Marriott, Hilton, Wyndham or Westgate, you have exit options if you meet the requirements. Head over to our other article on how to get rid of a timeshare legally to understand the choices you have. If you are like the majority of the timeshare owners and do not own with a timeshare company that will take your timeshare back, rest assured you have options.

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