Hi all,
I just bought a VOI at Westin Los Cabos Resort and Spa and immediately realize it is a mistake. Following the rescind instruction posted here and the contract package, I have sent out a rescind letter to Vistana Cancun Lagunamar office (winin 5 business days). Keep my finger crossed everything works out alright ....
When I signed off on the purchase, I also used the financing options and filled up the financing document. Basically what I did was, applied for a new Amex Starwood credit card on the spot... used the Amex Starwood credit card to pay the deposit and closing cost.... The remaining balance was put on the financing offered by Vistana and I was planning to pay it off within 30 days with the credit card.
My question is that, when I rescind the whole purchase, the financing (loan) is also cancelled, right? There is no complication involved with the loan application, etc.... right? Once they received the rescind letter and refund within 15 days the deposit and closing cost that was charged to my new Amex card, the slate will be cleaned and the loan is also cancelled altogether. Is this understanding correct?
Do I need to do anything additional besides the rescind letter (sent out by registered mail with return receipt)? Do I need to do anything additional to take care the loan application?
Thank you all in advance!
I just bought a VOI at Westin Los Cabos Resort and Spa and immediately realize it is a mistake. Following the rescind instruction posted here and the contract package, I have sent out a rescind letter to Vistana Cancun Lagunamar office (winin 5 business days). Keep my finger crossed everything works out alright ....
When I signed off on the purchase, I also used the financing options and filled up the financing document. Basically what I did was, applied for a new Amex Starwood credit card on the spot... used the Amex Starwood credit card to pay the deposit and closing cost.... The remaining balance was put on the financing offered by Vistana and I was planning to pay it off within 30 days with the credit card.
My question is that, when I rescind the whole purchase, the financing (loan) is also cancelled, right? There is no complication involved with the loan application, etc.... right? Once they received the rescind letter and refund within 15 days the deposit and closing cost that was charged to my new Amex card, the slate will be cleaned and the loan is also cancelled altogether. Is this understanding correct?
Do I need to do anything additional besides the rescind letter (sent out by registered mail with return receipt)? Do I need to do anything additional to take care the loan application?
Thank you all in advance!