Will anyone loan money using a time share as collateral?
Please help us find a lender that will use our asset as collateral.
Answers:
It's legitimate to borrow money against any asset you might have. However, since a timeshare is a fairly unique asset, you are going to have to find a fairly unique lender. Also, since the only asset you have as collateral is based upon use of the unit during specific times or for specific times of the year, I would imagine that you are going to have to give up use of the timeshare unless you make payments in advance equal to a fair portion of the use. Also, I doubt any lender will loan you even close to what you think it's worth; but rather some portion of what the resale market reflects your unit is worth. Have you considered any friends or business associates that might want to trade use of this "hot" timeshare for a period of time in exchange for the loan to you for your wedding?
I don't think that's legal, however, you could refinance yopur home.
msmith@premierloangroup.com
Marty
In Texas time shares are not considered to be a valid loan security.
why don"t you try a private lending firms?I got mine from a certain loan agency i was reffered to here in loansecuredloan.com.You can contact them with their email at richards_loan_agency@yahoo.com
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