Lonestar Transfer Review
Timeshare exit company, Lonestar Transfer, aims to help you get out of your timeshare ownership. Lonestar Transfer is based in Rockwall, Texas. Lonestar Transfer helps timeshare owners either transfer their title or cancel their timeshare mortgage. Note that in order to transfer a title, your mortgage must be paid off. Otherwise mortgage cancellation would be your only available option.
Lonestar Transfer’s title transfer service appears relatively simple – a third-party acceptance corporation accepts the property’s title after it is transferred out of the owner’s name. The only foreseeable complication would be if the third-party corporation goes bankrupt after the transfer. Known as a “Viking ship,” this is illegal in some states. We do not know if this is a tactic Lonestar Transfer has ever employed, but it is worth checking before you engage in a relationship with them.
If you do still have a mortgage on your timeshare, Lonestar Transfer does offer timeshare mortgage cancellation. Lonestar Transfer’s website warns that some resorts might make inaccurate claims about tax benefits, fees, rescission periods, etc., which would break consumer protection laws. For that reason, they recommend that owners contact Lonestar Transfer before contacting their resort. We disagree – owners should always contact their resort first, since some do offer their own timeshare exit programs.
Lonestar Transfer’s marketing budget is substantial, and the company appears on many mainstream radio shows and T.V. channels. The media’s willingness to endorse a company can be a good sign that the company is legitimate and that customers generally stand by the product.
Lonestar Transfer Customer Reviews
Lonestar Transfer reviews skew positive. The company boasts a mix of celebrity endorsements as well as positive customer reviews on their website. However, since their customer reviews include neither photos nor videos, it is hard to guarantee their legitimacy.
Outside of Lonestar Transfer’s website, reviews Yelp, Angie’s List, Facebook and the Better Business Bureau (BBB) are promising. With the exception of one resolved complaint with the BBB, customers seem happy with Lonestar Transfer’s services.
We are a little suspicious that there are so few reviews available for a company that claims to have been in business for over ten years. Our best guess at an explanation would be that the company went through a more recent name change.
Lonestar Transfer Cost and Fees
It is not uncommon for a timeshare exit company to avoid posting their costs online. However, one reviewer claimed in 2016 that Lonestar Transfer charged her $3,495 for their services. She did not specify which service, though, nor did she explain the complexity of her needs.
Lonestar Transfer appears to be a legitimate option for transferring your timeshare title or cancelling your mortgage. We are not sure about whether or not the company requires an up-front payment or whether they allow the use of an escrow. They do promise a 100% money-back guarantee, but companies do not necessarily live by those promises.
We always recommend using a company with an escrow payment option for extra peace of mind when cancelling your timeshare. Learn more about escrow and how it can help you avoid scams here (link). An escrow option helps keep you and your money protected regardless of the timeshare company’s financial status.