Post reply

Re: I need EVERYONE'S opinion please! (by R P.):

phill12 wrote:

I know there was few companies that would refinance a timeshare if the balance was more than $5000.

I have to say I'm shocked that there are still companies out there that would do this. Talk about bad loans in the making! The way owners are just walking away why would any company still want to handle refinancing on a timeshare.PHILL12

I would be curious to know of any banks or finance companies that are financing timeshare loans (even via developers) with the rate foreclosures are climbing. Making bad loans was the reason for the recent major bank failures. Timeshare loans are a very risky business as they would be the first for an owner to default on (not their homes).

This is one reason I say the timeshare industry will never be the same after this recession ..... banks will (or already have) stop financing developer bought timeshares as being far too risky.