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wanting out and desperately looking

Discussion in 'New to Timesharing? Look Here!' started by dnlb, Aug 27, 2018.

  1. dnlb

    dnlb Guest

    Joined:
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    Resorts Owned:
    Orange lake
    I have tried to research thru the links and threads but i am not sure where to look or begin.
    I have a timeshare with orange lake holiday inn. This ts is the product of two previous ts one for odd the other even years of points. The new ts is annual points of 160k. The loan amount is for 500$x10yrs with taxes and maintenance of $1000yr. We bought into the ts because yes we wanted vacations but now things have changed financially for us. I was wondering if we could downgrade to a cheaper ts? If we could downgrade is it possible to rescind the new contract? I did see someone suggest rescinding a contract if it took the place of the previous one but dont know if thats possible. If we lost what we have already paid but could get away from the contract period would be great but right now i would settle with a downgrade better than nothing. Also i am not behind on monthly pmts or annual fees if i cant downgrade is it possible upgrade and rescind that new contract? I am just looking for any and all options. When we bought the current ts the contract took the place of the previous so my rationale of thinking is with a new contract in place we could rescind it am i wrong??....any help????
     
    Last edited: Aug 27, 2018
  2. Passepartout

    Passepartout TUG Review Crew: Veteran TUG Member

    Joined:
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    You cannot upgrade then rescind in order to 'get out' of a previous contract. All that would do would be to revert back to the contract(s) you are under now. There is no easy way out after the original rescission period. Do not sign up for any of the upfront fee, 'get you out of your timeshare' or 'charity donation' outfits. They are all scams that will just relieve you of more money.

    We are sorry for your reversal of fortune, but as long as your payments and MF are current, your timeshare company knows nothing about it. If you want to end your relationship with them, stop paying. Eventually, they will foreclose and you'll be done. They may offer you a way to deed it back to them in lieu, but don't bet on it. It may reflect negatively on your credit report, but over time that will come back.

    Good Luck.

    Jim
     
    TUGBrian likes this.

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