Financing DVC Resales!

[T.E. Yeary]

This information was just faxed 7/28/05 to The Timeshare Store, Inc. from Tammac Financial Corp.

Effective February 5, 2005

TAMMAC FINANCIAL CORP.
Basic Lending Guidelines

Lowest Rate 10.99% - minimum 10% down, excellent credit and debt to income 45% or less

Rate starts at 11.74% with less than 10%

Rates would adjust higher if not within those guidelines.

Loan term guidelines-
2,000.00 - 2,499.00 24 months
2,500.00 - 2,999.99 36 months
3,000.00 - 4,999.99 48 months
10,000.00 - 14,999.99 72 months
15,000.00 - 25,000.00 84 months

There are no fees charged and no prepayment penalties.

NOTE
The loan can be made for the purchase price, 1st year's maintenance fee and closing costs.
The 10.99% rate is available with 10% down of the TOTAL cost for qualified buyers.

Automatic denial for foreclosure or repossession

Automatic denial for delinquent or charged-off student loans

Will consider bankruptcy after 3 years with clean credit since bankruptcy

Monthly debt to income ratio should be 45% or less

ESTIMATED MONTHLY PAYMENTS
Purchase Price $3,000
10% Down 300
LOAN AMOUNT 2,700
10.99% for 36 months $92.99

Purchase Price $8,000
10% Down 800
LOAN AMOUNT 7,200
10.99% for 60 months $156.45

Purchase Price $12,000
10% Down 1,200
LOAN AMOUNT 10,800
10.99% for 72 months $205.43

Purchase Price $18,000
10% Down 1,800
LOAN AMOUNT 16,200
10.99% for 84 months $277.19

Tammac also included a payment schedule for those wanting 100% financing, rates start at 11.74%

Note from Tom:
This type of financing could be a benefit to those who are wanting to purchase that perfect package that just came along and you know you might have money coming in the future, tax refunds, inheritance, insurance settlement, or a better loan with lower interest rates.
Since Tammac's loans have NO prepayment penalty, you could use their money for a short period of time, paying very little in interest, pay off Tammac with your windfall. If your windfall doesn't materialize, you've still got a monthly payment you can live with and everybody wins!

I hope this information will be helpful.

Thomas E. Yeary (Tom)
Owner/Broker












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[vascubaguy]

Hey Tom,

It looks like there might be a line missing in the "loan term guidelines". Would it be safe to assume that for $5,000-9,999.99 it would be for 60 months? Thus:

Loan term guidelines-
2,000.00 - 2,499.00 24 months
2,500.00 - 2,999.99 36 months
3,000.00 - 4,999.99 48 months
5,000.00 - 9,999.99 60 months
10,000.00 - 14,999.99 72 months
15,000.00 - 25,000.00 84 months


Oh, and as always... thanks for the info!