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Option to defer your Marriott timeshare loan payment

needvaca

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After hearing this from MVC's CEO recently on CNBC, I looked up the transcript of the recent investor call and see this:
"for our owners who have timeshare loans and have temporarily lost their income or a substantial portion of their income due to COVID-19, we are working closely with them, deferring loan payments where we can, as well as halting foreclosure activity, as we work with our owners to help them transition through this difficult time. To date, only around 2% of our borrowers have inquired about deferring their loan payment, with only a portion of those people actually taking us up on the offer, speaking to the strength of our owner base and our targeting efforts "

It's worth asking about a deferral, if you have a loan.
 

Dean

TUG Review Crew
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After hearing this from MVC's CEO recently on CNBC, I looked up the transcript of the recent investor call and see this:
"for our owners who have timeshare loans and have temporarily lost their income or a substantial portion of their income due to COVID-19, we are working closely with them, deferring loan payments where we can, as well as halting foreclosure activity, as we work with our owners to help them transition through this difficult time. To date, only around 2% of our borrowers have inquired about deferring their loan payment, with only a portion of those people actually taking us up on the offer, speaking to the strength of our owner base and our targeting efforts "

It's worth asking about a deferral, if you have a loan.
If they allow deferral it's likely they do not halt the interest at the same time so the interest will still be accruing. It still may be helpful for some if they are struggling to make the payments but at the MVC interest rates, it's painful if one can avoid the option.
 
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