GrandCalifornian
Can't Wait To Go Back
- Joined
- Mar 16, 2012
- Messages
- 3,809
I suspect that the vast majority of the foreclosures are financed through Disney. Like others mentioned, covering the fees, principal, and interest can be tough with renting out the points.Thanks for the responses. It is my understanding that most owners think renting out is relatively easy and I do hope this is the case for me. However, if this is really the case, how come there are foreclosures? Are all the foreclosures within DVC using financing? I paid cash for my contract. If renting out is not an issue, I will be very comfortable about signing my contract (I got the package yesterday). I don't think that my family will lose interest in WDW but I am just taking the worst scenario into consideration. Thanks,
Another "worst case" situation to consider is the ability to resell your contract if things really change drastically. Unlike many timeshares, there is healthy demand for Disney resales.
I know you are in that agonizing stage right now of deciding whether to commit, but know that we all have been there, and if you do it you'll have priority access to a wonderful resort, coupled with the flexibility to use your points differently over time.

I completely agree. I bet the foreclosure rate for cash paid contracts is near zero, because the contract has value. Worst case, they could sell it if they thought ahead far enough before not being able to cover the maintenance fees...Could be that, also could from not paying dues in a timely manner or at all. There's probably a subset of owners who are unaware or untrusting of the rental process. Remember, people are paying dues every single year per point regardless of whether they finance or not. So if someone got a hefty loan to cover their purchase and have to pay dues as well, the rental may not cover all the dues. Especially if they are at a lower demand resort. Or just things happen in life and people just don't prioritize and take care of financial commitments before it's too late. That's my thinking anyway, I'm sure more experienced DVCers can chime in on that.