Lonestar Transfer is a timeshare exit company based out of Rockwall, TX. The company has two services, timeshare title transfer and timeshare mortgage cancellation. To qualify for the timeshare title transfer service, your timeshare must be paid off without any mortgage. If you still have a mortgage, you’d have to use their timeshare mortgage cancellation service instead.
The timeshare title transfer service seems pretty straight forward. According to the website, the service involves transferring your timeshare property title out of your name and into to a 3rd party acceptance corporation. This could be a concern if Lonestar Transfer simply lets the 3rd party acceptance corporation go bankrupt after the transfer is complete because this would be referred to as a “Viking ship” and is illegal in some states such as Florida. At this time, it’s unclear if that is what Lonestar Transfer is doing.
The timeshare mortgage cancellation service can help you cancel your timeshare even if you still have a mortgage. According to the website, Lonstar Transfer says that when sales staff at a resort say certain things, consumer protection laws are broken and there are grounds for contract termination. These things can include lies about tax benefits, fees and limitations, rescission period and more. The website later goes on to say that you should not contact your resort and tell them you want to cancel your contract because they may use the things you say to trap you in your contract. We here at TimeshareExitCompanies.com always recommend contacting your resort first because some resort developers such as Wyndham have timeshare exit programs of their own already set up.
Lonestar Transfer appears to have a large marketing budget because it advertises on popular T.V. and radio shows such as Sean Hannity, KRLD 1080, WBAP 820am, Fox Business, Fox News, 94.9 KLTY, 660 AM The Answer, The Hugh Hewitt show, The Michael Medved Show and more. This could be a good thing for Lonestar Transfer reviews because popular T.V. and radio shows are unlikely to endorse an illegitimate company.
Lonestar Transfer Reviews
Lonestar Transfer has several positive reviews online. In addition to the various T.V and radio hosts endorsing the company, there are also several reviews on their website from actual customers. The reviews don’t have pictures though, so it’s hard to tell if these are legitimate or not.
Looking off the website, Lonestar Transfer reviews on Facebook, Angie’s List, the BBB and Yelp are very positive. It is a little odd that the company only has 8 positive reviews on the BBB considering they claim to have been in business for more than 10 years on their website. It is also interesting that their BBB page shows their business started in 2013, but their website says they’ve been in business for more than 10 years. Perhaps they went through a name change at some point or another?
Overall, there are very few complaints about Lonestar Transfer online. There is one complaint on the BBB that was resolved and that was all we could find.
Lonestar Transfer Cost & Fees
Timeshare cancellation is a customized service, so it’s usually pretty difficult to find a cost online. However, in this case, there was one person who made a post on Redweek that says the cost for their services to her was $3,495. This was posted on Jul 27, 2016 and does not specify if it is referring to the mortgage cancellation service or the timeshare transfer service.
Overall, this appears to be a legitimate operation. It is unclear if the company charges money up front for their services. Their website mentions a “100% written guarantee” but that doesn’t really mean anything because they could go out of business and the guarantee would be useless. Our recommendation does not change. Never pay an up front fee to cancel your timeshare. This is the only way to protect yourself from scams.