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Time-Shares/Cancel time share after cool off period

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Question
Hi
My husband and I signed the time share at Orange Lake Florida, not knowing we will be out of job just 3 weeks after that. I did called and wanted to cancel but was denied as we have past the cooling off period. We hardly can pay our rent and groceries, let alone the time share. Please advise, we will really appreciate your response. Thank you. Sincerely, nuri

Answer
Nuri,

Unfortunately once your cooling off period is over there is not really a cheap way to get out of the ownership. There are companies that will help you cancel the ownership/mortgage but they will cost you money upfront. The resort may listen to you if you explain that you will not be paying any money towards the ownership and it may be cheaper for them to take the ownership back then to go through the foreclosure process.

Time-Shares

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John Kushman

Expertise

I can answer any questions regarding the timeshare industry, developer sales, resales, vacation clubs, donation, liquidation, listing, for sale by owner, RCI, II, SFX exchange. Anything related to timeshares or campground memberships or fractional vacation real estate

Experience

I have been in the industry for 7 years. I started selling timeshare for a developer in South Dakota. I then transitioned into the escrow side of the resale market and I am currently the VP of Sales and Marketing at Resort Closings, Inc. Resort Closings Inc is the largest timeshare escrow service in North America. It provides full service timeshare transfer as well as sales.

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High School Diploma. 3 years of Higher Education.

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