Wedding Vail Colorado
Will anyone loan money using a time share as collateral?
We have timeshare in Vail, Colorado and we haven’t been able to locate anyone that would use it as collateral for a secured loan. We need the money for our wedding this fall. We don’t really want to sell the timeshare because it’s a very hot time of the year.
Please help us find a lender that will use our asset as collateral.
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?
Sonnenalp Wedding Video in Vail Colorado