What to do?

[Figment56]

Just recently had a reduction in income. DVC time share all paid for, but sister thinks we should sell to get extra cash to cover bills. We bought in 2003 and it is the only thing we look forward to yearly. Should we try to keep, or take our loss?

 

[mulberrybush]

It IS a luxury and you might have to do without the luxuries when finances change...we certainly don't know your details, but would the sale bring you enough to make a big impact? There might be a better way if you're looking to make up a month/two.

 

[Figment56]

Hopefully, income only a few months loss, can collect unemployment in the meantime. Should be recalled back to job in August.

 

[chalee94]

it's a great time to sell. so there is that...

but if you think it's a short term pain issue, maybe just rent your pts for a year or so and hold on...

 

[BestDadEver]

it's a great time to sell. so there is that...

but if you think it's a short term pain issue, maybe just rent your pts for a year or so and hold on...

That's a great idea especially if this is a short term thing .

 

[ELMC]

Only you know where you're really at. If this is a big time problem and you have other debts that will be mounting because of a loss of income, it might be a good idea to sell and get out ahead of that. But if you really do feel like it is short term, renting the points turns DVC from a cash flow negative to a cash flow positive immediately, and might be a good idea. Only you really know whether your situation is dire or a bump in the road. Good luck working things out.

 

[sweetdana]

It is an easy cut to make.. but if you will re-buy it in 5 years.. it is also an illogical one. If it is a temp thing.. do not rush and instead sell your points (transfer/rent.) you can sell 2 yrs worth if you have 13 and 14.



If you feel the income cut is pretty permanent* AND you need the funds now* AND you will not be vacationing at DVC any more.. ( skipping it.. values, off site ect..) then . sell. .. and no looking back.

Please do not just jump and do it in 2 minutes, without looking at it from a long term things and just end up buying back again in 8 yrs..

 

[e46m3]

There are always 0% interest credit cards you can apply for if this is just a short term thing