Posted on: 14th Jul, 2006 07:23 am
I would like to refi my tiemshare to a 30yr loan, is there any companies out there to do that?
Thanks,
Loree
Thanks,
Loree
hi loree,
time shares have no resale value practically and as such you won't find too many companies or banks willing to refinance a time share.
you may try for a personal loan to refinance or a home equity loan on your primary house to pay it off. i am sorry to say that timeshares are a horrible deal. my personal experience says that. are there partners with you or you are alone?
time shares have no resale value practically and as such you won't find too many companies or banks willing to refinance a time share.
you may try for a personal loan to refinance or a home equity loan on your primary house to pay it off. i am sorry to say that timeshares are a horrible deal. my personal experience says that. are there partners with you or you are alone?
Hi Loree,
Welcome to MortgageFit Forums.
Yeah, I agree that time shares are not a good deal but not that you won't get anybody to refinance on it. Perhaps it is not too easy as with traditional loans as correctly said by Colin that time shares have little to almost no resale value.
If you have a house with some equity built on it you can utilize that equity to pay off the time share loan. A home equity loan or line of credit can be taken.
In case you don't have a home you may have to take a personal loan but that won't do too good to you interest wise.
If you want to have a home equity loan you may do a no obligation free loan sign up with us so that we can forward your request to the loan department.
We maintain a vast network of lenders nationwide and we would be happy if we can assist you. Our loan department will contact you to discuss your situation and suggest some possible way.
Feel free to ask if you have more doubts. BTW, which state are you in?
God bless you.
For MortgageFit,
Samantha
Welcome to MortgageFit Forums.
Yeah, I agree that time shares are not a good deal but not that you won't get anybody to refinance on it. Perhaps it is not too easy as with traditional loans as correctly said by Colin that time shares have little to almost no resale value.
If you have a house with some equity built on it you can utilize that equity to pay off the time share loan. A home equity loan or line of credit can be taken.
In case you don't have a home you may have to take a personal loan but that won't do too good to you interest wise.
If you want to have a home equity loan you may do a no obligation free loan sign up with us so that we can forward your request to the loan department.
We maintain a vast network of lenders nationwide and we would be happy if we can assist you. Our loan department will contact you to discuss your situation and suggest some possible way.
Feel free to ask if you have more doubts. BTW, which state are you in?
God bless you.
For MortgageFit,
Samantha
Hi,
If you are in Hawaii you can check with the Pacific Crim bank. I heard of it from a friend of mine.
Although, I don't know much about it or whether they work outside Hawaii but what I have heard is that they specialize in timeshare refinancing.
If you are in Hawaii you can check with the Pacific Crim bank. I heard of it from a friend of mine.
Although, I don't know much about it or whether they work outside Hawaii but what I have heard is that they specialize in timeshare refinancing.
Rolling your balance into an equity line of credit on your residentail morgage is the only way I know of to get a 30 year note out of it...