I was in Florida and was given an interest rate of 17% or the option to refinance. I have a warranty deed for vacation club interest.
2006-12-19 05:14:06 · 8 answers · asked by kcbrown1979 3 in Business & Finance ➔ Renting & Real Estate
There are very few lenders who finance timeshares, which is what you have.
All of them that do finance them, do them at very high rates. Because they have a brutal default rate, since they are often hard-sold to people who can barely afford them in the first place.
People who have good credit will often take the financing offered at closing, then use a home equity loan on their own home to pay off the higher-rate timeshare loan.
Wells Fargo has a large division that does timeshare loans, but I'm certain you won't find anything with a single-digit interest rate.
If you have any equity in your own home, use it. If you have very good credit, see if you can get a personal loan from a bank or credit union to pay this off, maybe you can get something at 8-10% instead of 17%.
2006-12-19 06:12:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Timeshare Refinance
2016-10-06 10:54:37 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Don't refinance it. Sell it. It is not worth what you paid for it. And in addition to double digit interest rates, you also have to pay maintenance fees every year.
2006-12-19 19:54:57 · answer #3 · answered by Michael S 3 · 0⤊ 0⤋
Yuch ! Stayed there, hated it. besides, there are a range of apartment resalers accessible yet be careful! a number of them value stiff prices to promote your timeshare. flow by skill of between the Orlando area realtors that deal in time stocks. you'll discover them on-line. i believe I bear in mind a Coldwell Banker realtor who bargains with timeshares. sturdy success.
2016-11-27 20:14:38 · answer #4 · answered by desantiago 4 · 0⤊ 0⤋
I do not believe that's accurate
2016-09-19 09:23:28 · answer #5 · answered by ? 2 · 0⤊ 0⤋
I would like to ask the same question as the user above.
2016-08-23 13:11:32 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Not completely sure about this one
2016-07-28 06:30:30 · answer #7 · answered by Sondra 3 · 0⤊ 0⤋
Sorry to hear that! WOW! Did they ever see YOU coming or what?
2006-12-19 05:19:03 · answer #8 · answered by Bostonian In MO 7 · 0⤊ 1⤋