Get Out of Timeshare Mortgage: Legal Strategies and Exit Solutions

Let’s be real: buying a timeshare probably seemed like a great idea at the time. A slice of vacation heaven you could return to every year? Not bad. But fast-forward a few years—and maybe a few surprise fees later—and it doesn’t feel so dreamy anymore.

If you’re staring down a timeshare mortgage you desperately want out of, you’re not alone. Thousands of people are in the same boat, and yes, there are ways out.

Here’s what to know, what to watch for, and how to avoid falling into deeper traps while trying to escape the first one.

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So, What Exactly Is a Timeshare Mortgage?

If you financed your timeshare (and most people do), you didn’t just buy vacation rights—you took out a loan to pay for them.

These loans often come with:

High interest rates (like, credit-card-high)
No real resale value
Ongoing maintenance fees—forever

Worse? Timeshare mortgages aren’t like typical real estate loans. There’s rarely equity, and selling it isn’t as easy as listing it on Zillow. That’s why many people feel stuck.

Your Options for Getting Out of a Timeshare Mortgage

1. Check Your Contract for a Rescission Period

This only works if you’re still in the early stages (like, days—not months).

Most states give you a short window—usually 3 to 10 days—to cancel your timeshare contract without penalty. It’s called a “rescission period,” and it’s legally required in places like Florida, Nevada, and California.

Tip: Send a written cancellation letter immediately via certified mail. Follow the contract instructions exactly.

2. Call the Resort and Ask About Exit Programs

Some big names (like Wyndham, Marriott, or Hilton) have “deed-back” or owner exit programs, but they don’t always advertise them loudly.

If your timeshare is paid off—or close to it—they might take it back voluntarily, especially if you’re not behind on payments or fees.

This is often the simplest, cleanest way out if your loan is nearly paid.

3. Hire a Reputable Timeshare Exit Company (But Read This First)

There are legit companies that help people exit timeshare contracts—including the mortgage part. But the industry is full of scams.

Watch out for:

Upfront fees without a written guarantee
Pushy sales tactics
Promises to “sell your timeshare fast” (spoiler: there’s barely a resale market)

If you go this route, research the company. Look for:

BBB accreditation
Verified reviews (not just on their site)
Transparent, written agreements

🔗 Check for complaints via the Better Business Bureau

4. Try to Sell or Transfer Your Timeshare

This one’s tricky. Timeshares often have little to no resale value. But you might be able to:

Give it away (literally) on forums like TUG (Timeshare Users Group)
Transfer ownership to a willing buyer or relative
List it on reputable resale sites (RedWeek, TUG, or eBay)

Just be honest about the mortgage and fees. Most buyers won’t want a timeshare and a loan payment.

5. Stop Paying—But Understand the Consequences

Some owners get to a point where they simply… stop paying. This will:

Wreck your credit
Potentially lead to collections or foreclosure
Stay on your report for 7+ years

This is a last resort. Talk to a timeshare attorney or consumer rights lawyer before going this route. They might be able to negotiate a cancellation or settlement.

Real Talk: Is It Hard to Get Out of a Timeshare Mortgage?

Yes. But not impossible.

The biggest problem is misinformation. There are so many scammy “exit companies” promising quick fixes. But the reality? It takes patience, strategy, and—if needed—a professional who doesn’t just want your money.

Frequently Asked Questions

Can I just walk away from a timeshare mortgage?

Technically yes, but not without consequences. Your credit will tank, and you could face legal action from the lender.

Do I still have to pay maintenance fees if I stop paying the loan?

Unfortunately, yes. Until you legally get out of the contract, you’re on the hook for those annual (and increasing) fees.

Are timeshare exit companies legit?

Some are, but many are scams. Stick to companies with a long track record, good BBB ratings, and no upfront payment demands.

Can bankruptcy discharge my timeshare mortgage?

In some cases, yes—but it depends on whether it’s treated as secured or unsecured debt. You’ll need to talk to a bankruptcy attorney to know for sure.

Final Thoughts: You Can Escape—Just Don’t Rush It

Getting out of a timeshare mortgage can feel like trying to escape quicksand. But it is possible. Don’t panic. Don’t fall for “we’ll get you out in 7 days” pitches. And definitely don’t pay thousands up front to some random company you found on Facebook.

Start by reviewing your contract. Call the resort. Then, if needed, bring in a professional—just the right kind.

And remember, you’re not alone. So many people are in this same frustrating boat. You’ve got options—and the sooner you act, the better.