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Is Foreclosure An Option For Timeshare Owners?

timeshare foreclosure

August 5, 2020 – by Primo Management Group

timeshare foreclosure

There are thousands of timeshare owners around the country. Some people own one unit while others own several, either as an investment or so that they can enjoy different travel destinations throughout the year. For these people the question doesn’t come down to how many timeshares you own, it comes down to what your options are is the costs have become too much to handle. The United States and most of the world has been hit hard in 2020 with the coronavirus pandemic. It’s lead to thousands of people struggling to pay their bills. While there is some relief and regulations that protect you from getting pushed out of your home during these times, the same doesn’t exist for resorts. 

If you have to pay a monthly mortgage for your timeshare it could create some frustration as you look for ways to cover your personal bills. Vacation spots are the last thing on your mind as you have to make sure that your bills for your home and necessities are covered first. This leads a lot of people to the question, can they foreclose on your timeshare? It honestly is not only a fair question but something you probably wouldn’t mind right now. Having that cost removed from your money expenses would provide much relief and financial flexibility right now. 

Here’s the part that you probably won’t love, timeshare companies have no interest in letting you foreclose. Why? Because their goal is to keep you hooked and paying for as long as possible. Further, the only reason these resorts would want you out is if they could easily rent out the space to someone else for more money. Since no one is renting these resorts right now these companies are more focused on you paying your mortgage than ever before. If you actually are experiencing a battle with these companies and want to not only end it but also get out of your contract for good, you should give a timeshare cancellation advocate a call and learn what your options are. 

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Get A Free Consultation

Relieve Yourself of the Unwanted Timeshare Burden

Your information is 100% secure and encrypted. We will never sell or share your information with anyone.

Frequently Asked Questions ?

How does PMG get me out of my timeshare contract?

PMG is not a resale, transfer, or donation company. We are consumer advocates—we help to negotiate the release of your timeshare contract obligation. We do not buy, sell, or rent your timeshare. Simply put, we help you to get out of your timeshare contract forever.

How long does the process usually take?

Usually less than 12 months, but it all depends on your situation. Let us help you. Speak to your advisor about the time, and what delays the resorts have put into place to prevent timeshare owners from departing their ownership. If you have a mortgage or past due maintenance fee, the process takes more time.

How much is my timeshare worth?

This is probably going to hurt, but whether you paid $5,000 or $50,000 for your timeshare, the IRS values all timeshares as worthless investments. In addition, that timeshare would have negative value due to the annual maintenance fee bill which compounds year after year. That is until PMG helps you cancel your timeshare.

Can I use your service if I still have a balance owed on my mortgage?

Yes. Whether you bought your timeshare 20 days ago or 20 years ago, PMG has a solution for you and is here to help.

Will my name be off the timeshare?

Yes! Permanently! GUARANTEED!

In addition to getting me out of my timeshare, can you recover the money I’ve already spent on mortgage payments and maintenance fees?

While we are able to recover money in rare cases, beware of any timeshare cancellation company that entices you with the promise of fund recovery. The truth is, the resorts are loath to give back the money they’ve already taken for timeshares.

Are your consumer advocates really “consumer advocates”, or is that just a fancy word for salesperson?

Because most of our clients have had their trust betrayed by timeshare salespeople, we understand how some consumers can become a bit jaded. When you call us for a consultation, that’s exactly what you get, a consultation. At PMG, our job is not to sell you; our job is to help you get out of your timeshare. Which is why we have numerous 5-star reviews and an “A” (excellent) rating from the BCA.

Why should I choose PMG to get me out of my timeshare?

We go above and beyond for our customers by helping to protect you, and have the best success rate in the industry, rated 5-stars by clients. We pride ourselves on providing our customers with the best customer service in the industry. When you contact our company, you speak to a live person, not an automated system or voicemail. We offer a 100% money back guarantee, and we can provide documented proof of our success in helping customers just like you.

What happens after I sign up with you? Will I be apprised of your progress?

At PMG, we pride ourselves on our hands-on, boutique-style customer service, so every new client will work with our expert, experienced team whose job is to keep you in the loop throughout the entire cancellation process. We are always just a phone call away.

How much is your fee?

Not all timeshare experiences are created equal. Some are more complicated than others, and every situation is different. That’s why our trained timeshare elimination consultants will ask you a series of questions designed to determine exactly what needs to be done to terminate your timeshare, how long it will take, and how they can best advocate for you. We will always seek the most cost-effective route for you.

What if I still have more questions?

Canceling a timeshare contract is not a cookie cutter process. With each situation being unique, once you complete the form below an experienced consumer advocate will call you today to discuss your options.