Our team of dedicated professionals was brought together with one thing in mind, and that’s to assist those families who have been victimized by predatory lenders. The Chief Executive Member in charge of day to day operations has been a timeshare owner since the early 1980’s, and he and his family have been witness to many of the fraudulent sales practices that are so common in the timeshare industry. The Executive Members are well versed in timeshare law, and they have over twenty tears of combined experience fighting the giant timeshare sales companies. This gives them a very unique perspective, and also a firsthand view, of the underhanded and deceptive sales tactics that started to pervade the whole industry in the aftermath of the economic down turn in 2008, and most importantly, the crash of the secondary finance markets in 2009.
The largest precursors for these events started with the Clinton-era document “The National Homeownership Strategy: Partners in the American Dream” that eventually evolved into The National Homeownership Strategy, which began in August 1994 when Clinton directed HUD Secretary Henry Cisneros to move forward with the plan. This allowed millions of unqualified families to either purchase a first home, or for existing home owners to move into much larger homes than they could actually afford. Many of these unsuspecting families were victimized by unscrupulous builders and lenders into signing variable rate, interest only, or balloon mortgages with artificially low monthly payments. The whole situation was then pushed to the brink when the Bush Administration moved forward with its Ownership Society plan that not only encouraged unqualified lending, but also allowed the banks and brokerage firms on Wall Street to bundle these toxic loans into so called “derivatives”, and sell them off for huge but temporary profits. The rest is history, with most of those mortgages, and then the derivatives they backed, going bust. The resulting backlash in the timeshare industry was near catastrophic. None of the developers, even the largest, could sell any of their paper, cash flow dried up in just a few quarters, and most were on the verge of insolvency by the end of 2009. This led to tens of thousands of people losing their jobs with almost no notice, and the closing of most of the front line sales departments, all over the country. Without the influx of new owners needed to feed the in house sales departments, most of the remaining developers became overly aggressive in marketing the existing owners, and that’s when things started to get ugly. “Cash is King” became the rally cry around the industry, and for the first time in decades, the sales people were now being heavily incentivized to get larger and larger down payments. This led to many families being buried not only in high interest rate developer debt, but also huge amounts of credit card and Bill Me Later debt that they had no idea they were signing on for due to deceptive sales and closing tactics.
The Research Consultants that make up a very important part of our team are well versed and highly trained to investigate each and every case to ensure that there is sufficient misrepresentation or malfeasance to escalate your case for review by one of the Executive Members. We DO NOT handle cases of buyer’s remorse, or cases of negative life change, even though our deepest sympathy goes out to those unfortunate families who were ravaged by the economic crisis.
The final part of our team is also one of the most important, and these are the Referral Law Firms that we engage on your behalf to provide you with the finest legal representation and protection during our process. One of the things that set us apart from most of the companies in this industry is that EVERY SINGLE CLIENT of ours will have a signed ATTORNEY / CLIENT AGREEMENT with a reputable law firm, at the onset of our services. This not only gives all of our clients additional peace of mind, it also affords them every legal protection possible to avoid any possible backlash or harassment from these unscrupulous lenders during the process.
Mortgage Wellness Solutions, LLC
d.b.a. Legal Timeshare Aid
823 Peavine Rd.
Crossville, TN., 38571
Toll Free: (855) 720-2555
Office: (615) 850-1999
1321 Murfreesboro Rd.
Suite 511 E
Nashville, TN., 37217
Toll Free: (855) 720 - 2555
Office: (615) 850-1999