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New owner what are options to cancel

Eball

newbie
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Resorts Owned
Hgvc
First time poster and new owner. I have owned the TS for 1 year. What are my options since I still owe on the loan.
 

CalGalTraveler

TUG Review Crew: Veteran
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Resorts Owned
HGVC, MVC Vistana
What do you own? It is too late to rescind and you cannot sell or give it away until the mortgage is paid. You can pay off your loan and then sell/give it away for a loss, or learn to use/mazimize or rent it out until the mortgage is paid off (with other people's money) then give it away on TUG.

Last resort you can walk if it in states like Florida, South Carolina or California where you are protected by consumer law but this will likely affect your credit.

 
Last edited:

tschwa2

TUG Review Crew: Veteran
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A few in S and VA, a single resort in NC, MD, PA, and UT, plus Jamaica and the Bahamas
There is no option to simply cancel.
Your options are to continue to pay or to default on the loan. Defaulting on any loan can have consequences to your credit and depending on the state where you purchased, they may still be able to go after you for balance.
 
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