Frequently Asked Questions
Below you’ll find answers to the questions we get asked the most about exiting timeshares.
A: Every timeshare ownership is unique. In fact, even two ownerships at the same resort can be different. Because of this, there is no “one-size-fits-all” approach or fee structure. Timeshare Exit Team will evaluate the specifics of your unique ownership which will determine the exit fee required to eliminate your timeshare burden. Click here to schedule a free consultation.
A: Unfortunately, the timeshare exit industry is a completely unregulated marketplace, making it difficult for consumers to find a way out. Many exit options are not consumer facing, meaning they are not available to the public and/or cost prohibitive. We put together an expert team from our exclusive network of partners who will transfer ownership or negotiate to get you out of your timeshare. Our multi-faceted team approach is unmatched and has allowed us to obtain exits from over one thousand different resorts.
A: It’s incredibly rare for a consumer to recover any timeshare fees or payments. If your goal is to recoup any money paid, check to see if your timeshare has any re-sale value through a reputable listing company that does not charge upfront fees. Timeshare Exit Team does not recover money you have paid to the timeshare, nor do we profit off the ownership. Our services exit you from your timeshare completely to prevent the lifetime of future fees.
A: Every customer that commits to using Timeshare Exit Team’s services receives a commitment from us in return. While the customer is obligated to help provide us with needed information in a timely manner, we are contractually obligated to honor our money-back guarantee.
If we do not obtain an exit offer after three years, you get a refund of your exit fee. To read our full contractual guarantee terms click here.
A: Timeshare Exit Team by Reed Hein & Associates, is not a law firm, and Timeshare Exit Team does not provide legal advice or representation. There is no attorney-client relationship between you and Reed Hein. Timeshare Exit Team will assess your opportunities for an exit without the need for using an attorney, and should it be necessary to hire an attorney on your behalf, Timeshare Exit Team will help guide the strategy of the attorney on your behalf, as outlined in our contract with you and the Power of Attorney you provide to us in connection therewith.
A: ReedHein & Associates LLC is the legal entity that was formed by Brandon Reed and his business partner when they began helping consumers successfully exit their timeshare burdens. Timeshare Exit Team is the DBA name ReedHein uses for publicly facing operations and marketing.
A: In addition to our in-person consultations, we also offer online consultations that you can attend from the comfort of your own home. This affords you the option of a secure portal through which you can speak with a Consultant and ask any questions you may have. You can choose to video chat or simply call in as they assess your timeshare status and walk you through what to expect during the exit process.
Timeshare Industry FAQs
A: Yes. 74% of timeshares owners have lifetime contracts and many of those contracts have perpetuity commitments.1 While the issue of inheritance is a legal one for which you should seek legal counsel, Timeshare Exit Team understands that some timeshare interests might continue to burden an owner’s heirs or estate after the owner’s passing. Timeshare Exit Team has helped thousands of customers out of their timeshares as they plan and prepare their estate and finances for the benefit of their family.
1. State of the Vacation Timeshare Industry: United States Study, 2017 Edition, 2017
A: The short answer is, maybe.
Here’s why: Whereas many traditional refinance options are unavailable to you because there is no equity in the timeshare, Timeshare Exit Team has several partnerships with local credit unions willing to work with our customers. Here are the top three categories that many of our customers fall into:
- HELOC – if you have equity in your home, a Home Equity Line Of Credit (HELOC) could be the best solution to reduce your interest rate by upwards of 70%.
- Reverse Mortgage – if you have equity in your home and are 62 1/2+ you may be qualified for a reverse mortgage, that could allow you to unlock the equity of your home without having to pay increased monthly mortgage payments. This can free up cash flow, while at the same time, allowing you a quicker exit.
- Unsecured Loan – though these tend to be a higher interest rate (8-12%), they still typically fall well under the interest rate you received from your timeshare, plus make you eligible for an expedited exit (if you choose to pursue that route). Timeshare Exit Team has partnered with the American Consumer Council (ACC) to bring several local credit unions to the table to help our customers trapped in bad timeshare loans.
A: Here are four considerations to help you determine when refinancing makes sense. If you answer “Yes” to any of the below, it might be time to refinance:
- Have you found a cheaper way to vacation?
- Will foreclosing on your timeshare impact your employment due to job requirements that obligate you to maintain a minimal credit rating?
- Do you want to exit your timeshare, and quickly?
- Do you need to free up monthly cash flow?
A: The majority of timeshare exits do not require a timeshare lawyer service; they can be done directly with the resort by means of a transfer. Timeshare Exit Team works with more B2B exclusive timeshare transfer companies than any exit company in the country.
A: In the case that a timeshare attorney is needed, Timeshare Exit Team works directly with multiple that have successfully litigated against some of the largest developers in the industry.
During your free, no-obligation consultation with Timeshare Exit Team, we will review your contract to determine the best route for exit, including potential need for a timeshare lawyer. If a lawyer is needed, we would pair you with the right attorney for your unique timeshare situation.