When you buy a timeshare you’re buying an interest in a vacation property. To buy a timeshare you usually have to pay a down payment and then monthly payments. As an owner of a timeshare you usually have a right to stay at a participating property for several weeks throughout a year. But be aware, it’s difficult to sell a timeshare. Some people give timeshares to charity. Learn about timeshares here.
Use Home Equity Loan To Pay Off Timeshare
A timeshare owner is enjoying their property, but not their 17% interest rate. Taking money out of their home equity to pay off the timeshare or getting a personal loan are better solutions. A home equity line of credit or a home equity loan would cost anywhere from 6.5 percent to 9 percent.
Travel Scams
Planning a vacation? If so, watch out for vacation scams. Here are some of the top travel scams that are out there and how you can avoid being conned.
Timeshare Seized For Late Payment
Timeshare properties are rather unique and the association may have greater powers to enforce their rights to collect unpaid bills that you otherwise might be used to. Your timeshare documents should indicate what your responsibilities are in paying bills.
Real Estate Gift Must Include Willing Receiver
Giving the gift of real estate or investment property requires a willing giver and a willing taker. A person cannot gift property if the person they are giving to declines the real estate gift. If the receiver accepts the gift, he or she is responsible for all taxes, fees and payments associated with the property.
Not Easy To Sell Timeshares From Estate
An estate includes various timeshares. Unfortunately, there aren't any good ways to get rid of timeshares. You can go to the timeshare and try to find other owners of timeshares of the property who might be interested in purchasing yours.
Second Thoughts On Timeshare
Timeshares are a horrendous business for consumers as there is typically is no ability to resell or even abandon the property (without causing huge problems for your credit history). Consult a real estate attorney to find out about your options for getting out of timeshares.
Making A Gambler Feel Right At Home
The rewards of creating the right "home away from home" are rich. Many gamblers will hop on a plane a half dozen times a year, check into the same hotel, and play the same tables, no matter if they win or lose $500,000 each time. Is Las Vegas the place to build your getaway?