No.. Developer loans for Disney Vacation Club timeshare cannot be transferred or assumed. During a resale transaction, any remaining loan balance must be paid as part of the closing process. Currently, the only vacation ownership developer that allows a buyer to assume an existing mortgage on a timeshare is WorldMark the Club by Wyndham. For all other developers, the timeshare loan must be paid in full in order to transfer ownership of the interval ownership.
There are, however, a few private lenders who offer third-party financing on the resale market. It may be possible for the buyer to secure a private loan, and thereby clear the primary mortgage at closing through the escrow or title agent.
Your real estate broker should be able to help you with specific lender referrals for the resort you are buying. You should also check with your own bank and mortgage lender for a personal line of credit, or if available- a home equity line of credit which may offer better rates and tax benefits. You can also email me if you need a referral to a timeshare lending company.
Timeshare loans historically have high interest rates, so always try to obtain several quotes for the purpose of comparison.
There are, however, a few private lenders who offer third-party financing on the resale market. It may be possible for the buyer to secure a private loan, and thereby clear the primary mortgage at closing through the escrow or title agent.
Your real estate broker should be able to help you with specific lender referrals for the resort you are buying. You should also check with your own bank and mortgage lender for a personal line of credit, or if available- a home equity line of credit which may offer better rates and tax benefits. You can also email me if you need a referral to a timeshare lending company.
Timeshare loans historically have high interest rates, so always try to obtain several quotes for the purpose of comparison.
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