Need help canceling timeshare!

[Njramsey]

Hello, me and my husband bout our time share when we where young and niece, thinking it was a great investment and way for our children to have great vacas and experiences. We have owned for 6 years and upgraded and sadly until two years ago when where planning our wedding I never looked at what we owed, and it’s ALOT. The financial burden it puts in us makes me sick! We need our now.. does any one have any advice of what we can do!!?

 

[bnoble]

Unfortunately, I suspect you only have two choices. One, pay it off and then if you no longer want it, try to sell it or give it away. Two, default on it and allow it to be foreclosed, taking the credit hit.

You can ask HICV if they will take it back as a deed in lieu of foreclosure, but they are very likely to say no.

There is no magic strategy that will allow you to cancel a legally executed contract that you agreed to two years ago.

The good news is that it is a way to take great vacations. If that’s what you decide to do with it, stick around. Folks here can help you turn lemons into lemonade.