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Thursday, August 5, 2010
Knowing Smartly the Timeshare Financing Options
Although there are several owners who are trying to get out of their timeshare contracts these days, many holidaymakers are into timeshare ownership as a way to vacation. Meanwhile, some people opt for loans to pay for such purchase. And once a timeshare is financed, they can opt for refinancing. Refinancing refers to the replacement of an existing debt obligation by another debt obligation of different stipulations. Be warned though that there are also risks involved with this. This article presents some insights into the common timeshare refinancing options.First, check your personal credit report as a bad credit usually results to a higher interest rate to refinance a timeshare. You may also order a copy of your credit report before contacting a lender. Your aim here is to get as lowest rate as possible.
You may also contact a timeshare refinancing company. Today, several companies specialize in timeshare refinances wherein you can obtain a better interest rate or extend your loan term. Look at 3 to 4 different companies and request a no-obligation quote.
Another option is to refinance the loan with a bank or credit union. Banks and credit unions typically offer the lowest interest rate on timeshares. You may purchase the timeshare with in-house financing first and then refinance it at a later date.
Moreover, you can apply for a home equity loan or cash-out mortgage refinancing for your timeshare. You'll then receive a lump sum of cash which can pay off the timeshare loan since home equity loans and mortgage refinances have lower rates, you'll then save money.
On the other hand, the best option when purchasing a vacation property such as timeshares is still to pay through cash. But for those who are interested in buying a timeshare can also use the above-mentioned options to obtain funds for the purchase. As refinancing a timeshare is considered a risky option, any potential owner must look at the details of these options in any aspect before jumping to any deal.
Wednesday, August 4, 2010
Transfer Smart News: Accor Vacation Club Standout during the ATHOC Awards
Recently, the Timeshare Industry held its 19th annual National Industry Awards designed to recognize the best of the best in each Member Company’s employees and Accor Vacation Club was the standout performer, taking five of the night’s major awards for Marketing, Innovation and Sales Team amongst others. Although many owners are trying to get out of their timeshare contracts these days, this vacation club still get a 2800+ members this year.According to Craig Wood, CEO of Accor Vacation Club, their business has proven its resilience over the last 12 months. Having a quality product offering exceptional value for money always gives you an advantage in any market conditions, but without doubt their success can be attributed to the individual and team efforts their members of staff have made over the past year.
Wood added that all of Accor Vacation Club’s employees have been pushing for excellence in 2009/2010 to achieve their goals that then reflect back positively to their 28,000+ Members. This is constantly reinforced by the positive feedback and comments that they receive from their satisfied member base. Wood further stated that that awards are recognition of the hard work and effort provided by all of the team at Accor Vacation Club and the support that they receive from their parent company ACCOR.
Accor’s commitment to their members is to provide a world-class service, and these awards recognize their commitment in employee development to achieve this objective. Wood congratulates all their Accor Management and staff who are extended to these new industry ambassadors of Accor Vacation Club.
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