Thank goodness for the help that you found from the timeshare resales group!
When you initially made your time share purchase five years ago, you were certain that you had selected a vacation destination that would allow you to spend time with your extended family. In the last two years, however, some unexpected circumstance and long distance relocations have made it so that getting to this particular location has been a real struggle.
Fortunately, after a good deal of time working with timeshare lawyers they were able to help you find a way to use timeshare resales to get rid of the property and make an investment that made more sense. The timeshare rescission period had already expired, but the legal team that you found was experienced in situations on how to cancel timeshare after grace period. Your property and its contract provided some room for negotiation, and your legal representatives were able to help you out of what was otherwise becoming a very difficult situation.
Consider some of these facts and figures about the timeshare industry and the impact that it has on both an individual’s vacation funds and the nation’s economy:
- $70 billion is the current value of the timeshare industry in America.
- Only 3% of U.S. households own a timeshare.
- Nearly, 7% of U.S. households, which is equal to 9.2 million, own one or more types of a shared vacation ownership product, according to the 2016 U.S. Shared Vacation Ownership Consolidated Owners Report.
- 1,547 is the total number of timeshare resorts in the country.
- $20,040 is the average price of a new timeshare.
- Financial hardship is one reason people want out. An industry study, by Ernst and Young, indicated that 56% of reclaimed timeshares, which are defined as properties that revert to the developer, stem from foreclosure.
It is not possible to get out of all timeshares, but there are attorneys who can look at your legal paperwork and determine whether or not you may have a chance. Circumstances in your life change, and there may come a time when you need to make a change in the vacation space that you use. When you own a timeshare, however, you often need legal help to make sure that you can work these details out.