At great personal sacrifice, I recently offered myself up to a company that had invited me for a complimentary meal to learn how people could safely cancel or exit their timeshares. But when I told them who I was, I was turned away.

Granted, I don't own a timeshare. Never have. But I wanted to be able to impart the valuable information from this function to my readers. Still, the lady on the other end of the line would have none of it. Apparently, this outfit didn't want me to steal its thunder.

But I soon learned there wasn't a whole lot of lightning in that bottle, anyway. This timeshare exit company is registered as a nonprofit in Missouri, but the Better Business Bureau has been unable to verify that claim. (All nonprofits are required to register with the Internal Revenue Service.)

I also discovered that the Missouri attorney general has obtained a default judgment against the company and its owner. This supposed nonprofit is the subject of no less than 84 complaints about everything from repeated, unwanted calls to failing to provide the promised help in vacating a timeshare -- even after accepting thousands of dollars in payments.

And therein lies the rub: There are numerous charlatans out there who will promise to buy your timeshare or help you sell it. There is little substance to most of their assurances, at least not until they get their hands on your money. Then, they'll hound you to death for more.

This is not to say timeshares aren't worthwhile. They are a great, often less-expensive way to vacation. And not necessarily just in one location: Most timeshare communities offer numerous exchange opportunities with others around the world.

Many timeshare owners seem to love them. According to a recent poll of 1,600 owners for the American Resort Developers Association, 87% rated their overall ownership experience as excellent, very good or good.

Just the same, there are good reasons to get out of a timeshare. Perhaps you're getting on in years and can no longer travel, or the pandemic has forced you to stay put. Maybe the annual maintenance fees are too burdensome. Or maybe you just don't use it and want out.

Whatever the reason, the correct first step is to contact your timeshare company. If the property is still in active sales, it will tell you your options. You may not recoup any money, but ARDA CEO Jason Gamel says it's fairly easy for the company to put your slot back into its inventory. Some will do so for free; others might charge an administrative fee.

If the property is sold out, contact the management company to discuss your alternatives. If it doesn't have a resale program, perhaps it can recommend a trusted resale company, some of which are listed on the ARDA-sponsored responsibleexit.com. The management might even be able to match you with a satisfied owner who wants to purchase more weeks.

Another possibility: Gift or deed your timeshare to a family member or friend. Almost every timeshare company allows buyers to do so.

If you want to drop your timeshare because of the pandemic, but would otherwise hang on to it, know that many companies have hardship programs that allow owners to defer their payments -- sometimes for months. You may even be able to defer your maintenance fees. (Note that you might have to be current, with no outstanding charges, to qualify.)

"It's up to the owners' association," says Gamel.

The ARDA executive says there are "a number" of legit resale companies that offer their services for a flat fee or a percentage of the selling price. But beware of any company soliciting your business without hearing from you first.

Always make sure the company you choose is licensed in the state where your home property is located. Check out the company with the Better Business Bureau and your state regulator. Also, connect with the Timeshare Users Group (tug2.com), a nearly 30-year-old family-run organization offering unbiased information and advice.

Always require a written contract with detailed terms and a specific description of the services being provided. Beware, though, of a large pile of documents when signing an exit agreement.

"Scammers can use this tactic to confuse consumers" by making the process seem legitimate, or by discouraging them from reading the contract, says Caitlin Maxwell, executive director of the Tennessee Real Estate Commission.

Pay only after the promised services are performed and confirmed. It's OK to pay a reasonable fee in advance, as long as you've confirmed the company is legit. But otherwise, never pay a dime in advance. If the company tells you to stop paying your mortgage or homeowners' association fees, run -- don't walk -- to the nearest exit.

Finally, if you believe you were lied to during the original sales process, file complaints with the attorney general in your home state and in the state where the business is headquartered. Also file with the BBB and your local law enforcement agency. If they receive enough allegations, they may act.

Last year, for example, timeshare company Welk Resorts agreed to pay up to $5.5 million to settle a suit filed by the San Diego County District Attorney's Office. The suit alleged that false promises were made during sales presentations.

According to news reports, the investigation was prompted when the DA's office received "hundreds of complaints."

There's no doubt that owning a house changes people's lives, largely for the better.

For one thing, real estate is the basis for most people's wealth. Studies show that owners accumulate more dollars than renters.

Then there's the happiness factor. In a Bank of America report a couple of years back, more than half of the nearly 2,000 current or soon-to-be owners said the emotional factor of their homes held more weight than the investment aspect.

Homes give their owners pride, bring their families and friends together and provide a place to unwind, decorate, dine, work on hobbies and generally do as they please. Nearly two-thirds of the respondents told BoA they were more emotionally attached to their places than they expected, with more than 80% saying they'd never go back to renting.

But this isn't a love letter to homeownership. Rather, it's a warning: Some homebuyers, even those who absolutely adore their places, have "buyer's remorse" -- second thoughts about their purchase.

Money was the top regret among the 1,000 buyers surveyed last year by Flyhomes.com, an online real estate brokerage. About 40% said they spent more than they were comfortable with, and 20% said they flat-out spent too much.

In another study, 43% of homebuyers polled by LendEDU believe they made the right decision. But 47% said they made the wrong one. Thirty percent said they should have waited because of their finances; 20%, for social/life reasons; and 7% because they were unprepared to be owners.

Similarly, a survey of 2,250 people by personal finance site Nerdwallet found that about half would have done something differently if they could go through the process again. And 20% wished they'd saved more money before taking the leap. Among the other regrets: "should have gone with a larger house," "should have waited" and "house was too expensive."

These findings are interesting because a survey by Midwest builder Lombardo Homes found that 82% of buyers said they'd be willing to go over budget -- to the tune of $31,000, on average. At the same time, 63% said the pandemic has caused them to lower their sights by an average of $28,400.

Another poll, this one by LendingTree, shows roughly the same: that buyers are willing to go beyond their budgets to acquire what they consider "the perfect house." And a Realtor.com poll found that 1 in 5 buyers had to bump up their budgets to get what they wanted.

Of course, there is no such thing as a perfect house. Listen to what some Flyhomes survey respondents had to say: "property taxes higher than expected," "should have purchased a larger house," "kitchen too small," "not enough bathrooms" and "upkeep and maintenance cost more than thought."

Yes, reality sometimes bites. But you can take some steps to protect yourself from making these kinds of mistakes.

To get an exact handle on what you can afford, get preapproved by a lender. Once the lender goes over all your documentation, you will know exactly how large a mortgage they are willing to commit. Add that amount to the cash you have for a down payment and closing costs, and you'll know exactly how high you can go without breaking the bank.

Next, set your sights a little lower than your maximum amount, the folks at Flyhomes suggest.

These days, with bidding skirmishes breaking out all over, it's so tempting to raise your offer to beat out the other buyers. If you aim a little lower initially, and find yourself going toe-to-toe with others, you will have the wiggle room to do so.

In other words, search below your max so that you can comfortably bid up. LendingTree Chief Economist Tendayi Kapfidze agrees.

"I urge buyers to be very cautious about going over budget," he says.

If you are lucky enough to come in under budget, you might even have money left over to start taking care of some of the things the survey respondents griped about: Pay those higher-than-expected taxes. Add on to the house -- perhaps expanding the kitchen or adding the extra bathroom you didn't realize you needed. Take care of the maintenance and upkeep you failed to consider when you were going gaga over the place. And remember, you're also going to need cash to turn the house you bought into your home: purchasing furniture, window treatments, tools, stuff like that.

By the way, lots of people underestimate maintenance costs. But "if you are stretched financially and under-invest in maintenance, it can diminish the value of your home," warns Kapfidze.

Another way to stretch your budget is to look farther afield. Identify your favorite neighborhood and then widen your circle. By doing so, you're likely to grab more square footage and better amenities for less money. "We too often see people overlook beautiful neighborhoods with great schools just because they aren't 'buzzy,'" said the Flyhomes brokerage.

Realize, though, that another lament -- this one voiced by 10% of participants in a BankRate.com poll -- was not about what they bought, but where. These folks purchased in less-than-ideal neighborhoods and were sorry they did.

Seniors trying to figure out how to cash in on their home equity without having to leave their houses now have another choice. So do low-income borrowers who've yet to refinance their government-owned loans.

First, the new option for seniors. Typically, they tap into their equity either by refinancing or by opting for a reverse mortgage, which pays them an amount based on the value of their house and their projected remaining longevity.

If they refi, they still have to make house payments and pay their taxes and insurance. When they finally leave the nest, willingly or otherwise, the remaining mortgage amount has to be paid in full.

With a reverse mortgage, there is no payment, but you still have to cover your taxes and insurance. When you leave, the house reverts to the lender to satisfy your debt, and any profit left over after the place is sold belongs to you or your estate. But you never owe more than the home is worth at the time it is sold.

Now, Oklahoma-based company Finance of America Reverse is creating what it calls a "new category" of retirement financing, combining aspects of forward and reverse loans to give borrowers at or near the end of their working lives greater flexibility.

FAR President Kristen Sieffert calls the hybrid product, EquityAvail, a "retirement mortgage" -- something that makes sense for those preparing to transition to life on a fixed income.

EquityAvail was just rolled out last month, and is currently only available in six states: California, Florida, New Jersey, Virginia, Connecticut and South Carolina. But the plan is to offer it in at least 15 states within 12 months, Sieffert told me in a phone interview.

Here are a few more details: EquityAvail is a proprietary fixed-rate product with a minimum loan amount of $100,000 and a maximum of $4 million. Because government-insured reverse mortgages, more properly known as Home Equity Conversion Mortgages (HECM), currently come with an upper limit of $822,375, you may be able to get more money out of your house this way.

Also, whereas the typical reverse mortgage might have a maximum 55% loan-to-value ratio, EquityAvail is a tad higher at 60% to 65%, depending on the borrower's age.

"We can go higher because the borrower makes payments," Sieffert said.

The proceeds are distributed at closing. Borrowers are required to make payments for 10 years, but the monthly cost is about half of what it would be for a typical refi, according to Sieffert. That's because EquityAvail is a negatively amortizing loan in which the principal rises rather than falls. In this respect, it resembles a reverse mortgage.

After the loan is on the books for a decade, it becomes even more like a reverse mortgage, because you need no longer make any payments to principal and interest. Again, though, you still have to pay your taxes and insurance.

Borrowers must be at least 60 years of age to qualify, versus 62 for a HECM. So that means you'll be on the hook for house payments until you are at least 70. But that's better than a regular refi, which can obligate you for 15, 20 or even 30 years. FAR is considering lowering the age requirement so that early retirees could apply, along with people forced into retirement and other interested parties.

The outstanding balance must be paid when you pass away, or when the house no longer serves as your principal residence, but you never owe more than the house is worth. And unlike pure reverse mortgages, there are no origination fees, nor monthly servicing charges.

FAR says it created the new loan when it identified a need that wasn't being met by traditional loans or reverse mortgages.

Meanwhile, low-income borrowers whose mortgages are either owned or controlled by Fannie Mae or Freddie Mac are now able to refinance into less costly loans. The two government-sponsored enterprises will even throw in $500 to pay for an appraisal if one is necessary. And if you are low on cash for closing costs, you'll be able to roll up to $5,000 into the loan amount.

Fannie and Freddie's regulator, the Federal Housing Finance Agency, estimates that by using the new option, the more than 2 million low-income families who have yet not taken advantage of today's near-record-low mortgage rates will save upwards of $250 a month -- $3,000 a year.

The loan will be available through Fannie this month; Freddie is shooting for August. To be eligible, borrowers must occupy the house, have incomes at or below 80% of the area median and have not missed a payment in the past six months (or no more than one payment in the past 12). Also, debt-to-income ratios cannot exceed 65% and credit scores must be 620 or higher.