How can I legally get out of my Westgate timeshare?

How To Get Out Of A Westgate Timeshare Mortgage?
  1. Rescission. Every Westgate timeshare contract has a stipulated “cooling-off” period.
  2. Cancellation. Your Westgate timeshare contract can also be eligible for cancellation via consumer rights violations.
  3. Resell Timeshare.
  4. Deed Transfer.
  5. Donate.
  6. WestGate Legacy Program.

What happens if you stop paying Westgate timeshare?

Simply stated, if you stop making payments on your timeshare loan, you will eventually face foreclosure since a timeshare is considered real property just like a residence (note that the other owners of the timeshare property are not affected in any way by the foreclosure of your interest in the property).

Can you get out of a timeshare with a mortgage?

Timeshare exit companies may be able to help you get rid of a timeshare with a mortgage balance. If you choose to work with a timeshare exit company, we recommend choosing one that offers an escrow payment option so the timeshare exit company does not get paid in full until after the timeshare is cancelled.

How do you get out of a timeshare you still owe on?

Looking to Get Out of a Timeshare? Here’s How to Do It Legally
  1. Call the developer.
  2. Rent it out.
  3. Sell it on the resale market (expect to take a hit).
  4. Gift it to a friend, family member or stranger.
  5. Stop your payments (but expect consequences).
  6. Avoid scams.

Can you just walk away from a timeshare?

You can’t just walk away from a timeshare. That’s because they often come with an obligation to pay maintenance fees for as long as you own them. It says 85 percent of timeshare owners who go to contract regret their purchase.

What happens after you pay off your timeshare?

If you stop paying it, the timeshare company will do whatever it takes to collect. They’ll make phone calls and send letters, then they’ll assign it over to (you guessed it) a collections company. If you still don’t pay, the situation sinks even further into foreclosure and possible legal action against you.

Is RCI a ripoff?

In reality, the RCI timeshare scam is well documented and has a very bad reputation within the timeshare community. Customers are locked into RCI and forced to pay large hidden fees, just like their timeshare contract. Massive deposits have to be put down for exchanges, unbeknown to customers until it is too late.

Can I refuse to inherit a timeshare?

If you are either left a timeshare in a will or are the legal heir of someone who owned a timeshare and died without a will, you may choose to refuse to accept your inheritance. In legal terms, this is generally called “renunciation of property.”

Why is it hard to exit a timeshare?

Canceling your timeshare can also be difficult due to financial reasons. Resorts are notorious for encouraging people to make a down payment on a credit card. Putting a substantial investment on your credit card is never a wise idea. Your interest rates will skyrocket, and it’ll take you a while to pay it down.

Can I cancel my RCI timeshare?

You may cancel your membership by notifying RCI by telephone or in writing.

What is the average cost to get out of a timeshare?

about $5,000 to $6,000

How much do lawyers charge to get out of a timeshare?

Costs to Get Out of a Timeshare

On average, it costs about $5,000 to $6,000 and takes 12–18 months to get out of your timeshare contract using a timeshare exit company. But the cost and the timeframe can vary depending on a number of factors including, how many contracts are attached to your timeshare.

Can you sell your timeshare back to the resort?

Here’s some insight into costs and what to expect.

On average, the cost of professional cancellation services is around $4,000. This typically gets you a team that will work with your timeshare company on a settlement or manages the resale process for you.

What happens if I don’t pay RCI membership?

If you can’t sell your timeshare on the open market, one option is to offer it back to the resort. As long as the unit is paid off and you are an owner in good standing, there’s a chance that the resort will take the unit back from you.

How can I get out of my timeshare without paying fees?

Your RCI Weeks subscribing membership will be cancelled if you do not renew within 120 days after your membership period expires. If after the 120 days, you decide to Reactivate your RCI Weeks membership, there will be a $49USD charge to reinstate your account, which is in addition to your standard membership fee.

What can I use my RCI points for?

Interval had 5 times the availability, but RCI was 40% cheaper. On the other hand, if you’ve got schedule flexibility, then RCI has a much better price. If you have dual exchange affiliations like we do, it’s definitely worth doing some comparison shopping!

How does timeshare cancellation work?

Together with an exchange fee, your points can be used to book exchange holidays at RCI-affiliated resorts or for RCI Points Partners products, including car hire, hotel stays, city breaks with flights, attraction tickets and more.

Which is better II or RCI?

While it’s usually not necessary to provide a reason for canceling the timeshare contract, you do need to explicitly state that the purpose of the letter is to rescind the contract. A statement like “I am contacting you within the rescission period to cancel this timeshare contract” will usually work.

Which timeshare exchange company is the best?

The general consensus is that II has higher quality resorts (Marriott and Starwood) than RCI. Owners like that II’s membership and exchange fees are cheaper than RCI’s. Several owners find II’s procedures for extending deposits don’t work for them and they have trouble using their deposits with them.