How Should I Know If I Should Sell Or Cancel My Timeshare? I'm Lost!

As the editor of quite a few timeshare sales and cancellation websites, I have come to find out that a great deal of people don't generally realize the multiple differences between the two. When people land in a financial hardship, it is imperative that they make the right decision when it comes to selling or canceling their timeshare. Personally, I believe that if consumers qualify for timeshare cancellation it will be their best bet but here are the pros and cons of both:

Selling Timeshares:

Pros:

Financial relief: Due to the current state of the economy and other hardships, quite a few Americans have gotten in a situation where it is hard to decide what bill they are going to pay with their next pay check. Even though, this is a very unfortunate situation, a lot of Americans will be able to find relief from monthly mortgage and maintenance fees associated with their timeshare.

Credit relief: One major factor when it comes to the calculation of consumer FICO ratings is the amount of debt compared to the amount of income also called the debt to income ratio. When consumers sell their timeshares that still have a mortgage attached, the sale of the timeshare will cause the amount of debt that consumer has to go down ending in a better debt to income ratio!

Profits: Although, some people do realize profit, profits are extremely difficult to come by these days when it comes to timeshare sales. This is because of the simple laws of supply and demand. As the economy continues to dwindle, the demand for the luxury of a timeshare follows. With the major amount of timeshares available and the demand continuously dwindling, the possibility of Americans selling their timeshare for a profit gets lower and lower.

Cons:

Time: One of the things that Americans will need to understand when selling a timeshare is that the process takes time. I'm not talking about 30 to 90 days, there have been thousands of people that I have personally talked to that have had a timeshare on the sales market for years.

Mortgage: Another con to selling timeshares is that because of the laws of supply and demand that I explained above, many consumers find that when they sell their timeshares, the money earned isn't even enough to pay off the mortgage on the property.

Expense: Because there are not many Americans these days that are actively looking to buy a timeshare, it has become a very expensive task to try and sell one. The expenses usually include hiring quite a few timeshare sales agents to try and sell the timeshare, the cost to consumers of placing a timeshare on a couple of sales sites such as Ebay.com, Craigslist.org and Tug2.com! Over time, this expense can grow to amounts above $10,000.00!

Timeshare Cancellation:

Pros:

Financial relief: As stated above, a great deal of Americans have found themselves in the middle of a severe financial hardship that the timeshare mortgage and maintenance charges don't help! As with the sale of a timeshare, canceling a timeshare helps with the mortgage and maintenance charges associated with it! As a matter of fact unlike the sale of timeshares where consumers tend to end up with more to pay on their timeshare mortgage, when a consumer decides to go with timeshare cancellation, this will completely stop all mortgage and maintenance fees.

Credit relief: When Americans decide to cancel a timeshare, the resulting reduction of debt as a result of the timeshare mortgage being null and void helps that consumer by reducing their debt to income ratio!

Loss recovery: Many consumers who decide to get rid of their timeshare one way or another do it as a result of financial hardship. Fortunately, in the majority of cases, timeshare cancellation companies are able to recover losses associated with that timeshare. Sometimes these companies will recover a down payment, sometimes they will recover the maintenance fees and some times they are able to recover every penny ever spent on the timeshare!

Cons:

Qualification: Timeshare cancellation is the process of deeding a timeshare back to the developer and recovering a portion of any or all losses associated with that timeshare due to discrepancies in the timeshare sales process. This means that not everyone will qualify!

As you can see, I am a timeshare cancellation advocate because the benefits are far greater! However, there is the qualification issue. If you are interested in timeshare cancellation or selling a timeshare, feel free to click on one of the links below to get more information!

This article was written by Joshua Rodriguez and is brought to you by:

American Resort Resolutions: Timeshare Cancellation
A Timeshare 2 Sell: How To Sell A Timeshare