Will Legal Action Help Me Get Rid of my TS?

[theo]

I had no idea this was a thing. If I had I would have done so. I regretted the decision immediately upon returning home.

By law, you must have been provided with formal notice of your rescission (cancellation) rights under applicable state law right at the time and place of your contract execution, but unfortunately that ship already sailed long ago.

Wastegate is actually notorious for "providing" the required rescission notice in "creative" ways that are very difficult to find --- placed within a "hidden" velcro pocket (an actual photo of which you can easily find right here on TUG), or buried somewhere within a provided CD. But again, for you that rescission ship has sailed.
You now need to focus on extricating yourself from a situation whose "easy exit door" closed behind you about 8 months ago now.

 

[prosam]

By law, you must have been provided with formal notice of your rescission rights under applicable state law right at the time and place of contract execution, but unfortunately that ship sailed long ago.

Wastegate is actually notorious for "providing" the rescission notice in ways that are very difficult to find --- placed in a "hidden" velcro pocket (a phto of which you can find here on TUG), buried within the contents of a provided CD, etc. But again, for you that ship has sailed. You now need to focus on extracting yourself from a situation whose exit door otherwise closed about 8 months ago.

Slimeballs Scumbuckets UGH!

 

[prosam]

P.S. I do not suggest or recommend fabricating any stories or tall tales; they don't and won't care anyhow. Just make it very clear that you believe that you made a serious mistake and are not going to pay another dime (if that is indeed your intent and position at this point) to perpetuate that unfortunate mistake.

Understand very clearly that there may be negative credit report consequences for defaulting if they decline to accept "deedback". It's entirely your personal decision to make whether those potential negative consequences outweigh the benefit of not spending any more money on (from a resale perspective) a nearly worthless "product".

Exactly what I'm doing.

If they don't accept the request I am ready and willing to take on the foreclosure. My credit is excellent. I have a house. I have two cars. I have credit cards. I don't see myself asking for more credit or buying any more cars anytime soon so I'm ready.

I am not sending them one more of my hard earned pennies.

Again, thank you for the advice. You have been awesome. You have no idea.

 

[prosam]

How does this sound?

Samuel Mateo, Jr.
Street
City, STATE ZIP
(413) 555-5555

Westgate Resorts
2801 Old Winter Garden Rd
Ocoee, FL 34761

September 22, 2016
RE: deed in lieu of foreclosure on {address}

To Whom It May Concern:

I am writing to begin the process of offering the deed to my timeshare, in lieu of foreclosure.

I did not make this month’s payment and intend on not making one more single payment. My wife and I believe we have made a very hasty decision based on pressure and lies told to us by your salesman.

We now regret and view this purchase as a huge mistake. It has destabilized our finances and we find ourselves struggling to make ends meet and worst of all feeding our children.

We deeply regret not having rescinded while we were still within the time period provided by state law to do so. We had no idea this was even an option as the provided notice was very well hidden in the paper work given to us.

We are not going to pay any more money to perpetuate our mistake. Rather than deal with the foreclosure process, I would like to give you the deed to my timeshare, in exchange for forgiveness on the loan.

Please contact me as soon as possible so that we may begin this process.

Sincerely,

Samuel Mateo, Jr.

 

[prosam]

Showed the letter to my boss and he seems to think that if I mention the word mistake and that I've struggled to make payments they will just throw this letter in the garbage. Those words will mean that I am able to pay and don't want to and that the mistake is not theirs and I should continue to pay.

He wants me to be more straight forward. Just say I am unable to make any more payments and instead of going into foreclosure proceedings and costing them more money they take the deed back and keep the money I've paid so far.

What he says makes sense to me.

 

[Passepartout]

I don't have a problem with the letter. As long as you are willing to accept that defaulting may influence your credit (or may not) be strong and take the consequences. Remember, unsatisfactory reports can be answered on credit reports. Most credit issuers are going to give you some slack when they see that the credit ding is for a timeshare default and foreclosure. Keep (a copy of) the letter that shows that you offered the interval back as soon as you recognized that it was dragging your finances down a black hole, you proactively offered it back to the developer and essentially abandoned your deposit to the deceitful seller.

Much good luck to you.

Jim

 

[prosam]

Updated letter, not sure if I should add the part at in the second to last paragraph

To Whom It May Concern:

I am writing to begin the process of offering the deed to my timeshare, in lieu of foreclosure.

I did not make this month’s payment and am financially unable to make additional payments. My wife and I believe we have made a very hasty decision based on pressure and lies told to us by your salesman.

This timeshare payment has destabilized our finances and we find ourselves having to pay this loan instead of feeding our children. This we will tolerate no longer.

We deeply regret not having rescinded while we were still within the time period provided by state law. We had no idea this was even an option as the provided notice was very well hidden in the paper work given to us.

We are not going to pay any more money. Rather than deal with the foreclosure process, I would like to give you the deed to my timeshare, in exchange for forgiveness on the loan. A deed in lieu of foreclosure is clearly the best option for all involved as the bank gets the same result without cost and delay.

Please contact me as soon as possible so that we may begin this process.

 

[taterhed]

I've been biting my tongue, but can hold it no more.....

A few comments on reading the OP's posts:

You regret your purchase, may not be able to comfortably pay for it and wish to unilaterally revoke your contract; ok, I get it. That's your right, your decision and your consequences.

You've hinted that this is a choice--not a necessity--and offered to submit "financial hardship, or death in family, or illness..." unless they might request "proof" of said condition. Sorry, but this sounds like outright deceit to me. I guess you think that you can lie or cheat with a clean conscience because you don't like their methods? Sorry, but that's not the way it works. Don't sink to that level.

You called the salesmen "slimeballs and scumbuckets." Well, you might be right, but really, they are just salesmen/women working hard to earn a buck. They are working for a company that fosters and promotes the 'anything for a sale' attitude. Ever bought a used car from a 'cheapo lot?' You'll find much the same thing. I blame the company personally. But, nobody tortured, drugged or forced you to sign. I'm sorry this happened to you, but assess the blame where it belongs.

Finally, some comments for your letter:

These people who will read your letter see a lot of such correspondence I suspect. My suggestions parallel Theo's; keep it short, keep it simple, be direct. 1) I made a bad financial decision under pressure--a mistake. 2) I failed to terminate this agreement during rescission for lack of understanding--another mistake. 3) I will not pay any more money and continue to perpetuate this mistake. 4) Rather than incur further expenses in foreclosure etc... I offer to 'deedback' the property etc... I am fully prepared to see this process through....etc.

My point: Mistake, pressure, no money, deedback. Words like 'regret', 'lies', 'struggle', 'would like to' are wishy-washy. Personally, I don't think you'll have much success, but it's worth a shot. Maybe they'll cut you a deal to reduce your outlay and their losses.

Good luck.

Sorry if you find my words hurtful or offensive, but the truth hurts.

 

[prosam]

Sorry if you find my words hurtful or offensive, but the truth hurts.

They do not hurt at all as I am none of these things. I was trying to figure out the best way to go about this. I was just curious. No need to bite your tongue around me.

Truth of the matter is it is a financial hardship. I am truly having trouble putting food on the table because of having to pay for this timeshare. Ever since we got into it I've not had one month where I had to eat at family members house or go without food and feed my kids instead of myself or even borrow money just to be able to eat. I had not had this problem prior.

We were seduced by the thought that this timeshare would pay for it itself by using their rental system. The saleman promised to help me setup VRBO and Homeaway listings. He promised to call me. 7 months later I have not had one call.

I understand they are just doing their job. That doesn't mean I can't call them what they are. They are using shady practices to make the sale no matter what and yes I know that comes from the top.

I am fully aware I signed the contract and nobody put a gun to my head but they might as well have with the tactics used and empty promises.

Thanks for the tips for the letter. See the revised version above. I might revise it again to make it even shorter and sweeter as you mentioned. For example I doubt adding the part about the salesman and hidden notice is going to make a difference at all.

 

[Pmuppet]

You sound like you have a good strategy for dealing with them. Just be warned, this won't happen quickly, as Westgate knows, a large percentage of folks will cave if they pressure them (with harassing calls, credit report dings, etc). So, they won't be quick to accept a settlement.

Be strong once you have committed to your resolution. You might consider consulting an attorney as the hour consultation might be worth $300-$400 for you (not that you are going to get your money back but they can advise you the laws in the state of timeshare what your risks/likely outcomes are so you can plan accordingly.)

Plus, it is much more effective to say, I have consulted an attorney, they advised me not to give another penny to you guys. I am happy to give you the deed back but that is all you are getting from me.

Lastly, I would block their calls for at least 90 days. This will show them you are serious. You don't want to talk to the bottom feeders who call you to collect. Those are the marines that can't help you get resolution. You need to go up a level and in order to negotiate a resolution, you need the generals to reach out to you.

 

[prosam]

Thanks for the advice @pmuppet. Will definitely look into these options.

You sound like you have a good strategy for dealing with them. Just be warned, this won't happen quickly, as Westgate knows, a large percentage of folks will cave if they pressure them (with harassing calls, credit report dings, etc). So, they won't be quick to accept a settlement.

Be strong once you have committed to your resolution. You might consider consulting an attorney as the hour consultation might be worth $300-$400 for you (not that you are going to get your money back but they can advise you the laws in the state of timeshare what your risks/likely outcomes are so you can plan accordingly.)

Plus, it is much more effective to say, I have consulted an attorney, they advised me not to give another penny to you guys. I am happy to give you the deed back but that is all you are getting from me.

Lastly, I would block their calls for at least 90 days. This will show them you are serious. You don't want to talk to the bottom feeders who call you to collect. Those are the marines that can't help you get resolution. You need to go up a level and in order to negotiate a resolution, you need the generals to reach out to you.

 

[gmarine]

Do not waste your money on an attorney. You signed a contract which WG can choose to enforce or they can choose to accept the deed back.
Also, do not stop taking the phone calls. If you stop communication with WG you can be sure they will notify the credit bureaus and will not accept the deed back. Since its likely a large amount of money they may also take legal action if you just stop communicating.

The key to getting them to accept the deed back is to communicate with them and explain that you cannot pay the debt. If they agree to accept they will likely require a fee of $800 - $1000 or so to process the deed in lieu.

Good luck, hope you get out of this without too much trouble.

 

[prosam]

Do not waste your money on an attorney. You signed a contract which WG can choose to enforce or they can choose to accept the deed back.
Also, do not stop taking the phone calls. This is bad advice. If you stop communication with WG you can be sure they will notify the credit bureaus and will not accept the deed back. Since its likely a large amount of money they may also take legal action if you just stop communicating.

The key to getting them to accept the deed back is to communicate with them and explain that you cannot pay the debt. If they agree to accept they will likely require a fee of $800 - $1000 or so to process the deed in lieu.

Good luck, hope you get out of this without too much trouble.

Makes a lot of sense. Thank you.

 

[prosam]

Ok here is the final draft going out today via certified mail. I removed any negative words towards Westgate and their salesman. I want to keep it friendly, all those negative things will not help my cause.

To Whom It May Concern:

I am writing to begin the process of offering the deed to my timeshare, in lieu of foreclosure.

I did not make this month’s payment and am financially unable to make additional payments. My wife and I believe we have made a very hasty decision when we purchased this timeshare.

This timeshare payment has destabilized our finances and we find ourselves having to pay this loan instead of feeding our children. This we will tolerate no longer.

We deeply regret not having rescinded while we were still within the time period provided by state law to do so. We had no idea this was even an option as the provided notice was not easily visible in the paper work given to us.

We are unable to pay any more money. Rather than deal with the foreclosure process, I would like to give you the deed to my timeshare, in exchange for forgiveness on the loan. A deed in lieu of foreclosure is clearly the best option for all involved as the bank gets the same result without cost and delay.

Please contact me as soon as possible so that we may begin this process.

Again, a HUGE thank you to everyone who has helped me through this. You have no idea how helpful you have truly been.

I will definitely comeback and give you guys updates on the process.

--Sammy

PS
I just got my first courtesy email from Westgate about missing this months payment. It was cordial and friendly, for now.

 

[rrsafety]

I've been biting my tongue, but can hold it no
You called the salesmen "slimeballs and scumbuckets." Well, you might be right, but really, they are just salesmen/women working hard to earn a buck. They are working for a company that fosters and promotes the 'anything for a sale' attitude. Ever bought a used car from a 'cheapo lot?' You'll find much the same thing. I blame the company personally. But, nobody tortured, drugged or forced you to sign. I'm sorry this happened to you, but assess the blame where it belongs.

The blame is appropriately place by the OP on the scumballs, liars and thieves that sell these timeshares. The OP made a mistake which he is must now accept the consequences. The sales people, on the other hand, purposely set out on a daily basis to deceive decent, hard working people. They are fully to blame for the sins they commit every day. How they can live with themselves is beyond me.

 

[taterhed]

The blame is appropriately place by the OP on the scumballs, liars and thieves that sell these timeshares. The OP made a mistake which he is must now accept the consequences. The sales people, on the other hand, purposely set out on a daily basis to deceive decent, hard working people. They are fully to blame for the sins they commit every day. How they can live with themselves is beyond me.

I'm sorry, but you are wrong.

You can not lump all salemen/women into your little hate-pot. If you're just referring to this particular company, then I'm sure you have a higher chance of being right than with other companies. If you're referring to the industry in general, then you're just axe grinding.

The people you're talking about set out everyday to sell timeshares. Some are honest, some are not. Some lie more than others. Every 'deception or omission' could be construed as a lie, therefore ALL salespersons--regardless of what or how they sell--are potentially liars. As to 'purposely...daily basis...deceive decent, hard working people...sins they commit...', perhaps you should direct your vitriol at some other more deserving group. Labeling people you've never met based on preconceived ideas is called prejudice. Look it up; that might be a sin too. "Sins they commit?" Are we in church? Is our next discussion about usury?

You're right: the OP must accept the consequences of the mistake. Sounds like they are moving in that direction.

But, you're also wrong: the temptation came from the serpent, but the blame lies firmly with Eve ( or Sam in this case?).

It's truly sad that people attempt to take advantage of others for their own benefit. The timeshare industry could certain stand some policing to weed-out the bad apples and those 'rotten to the core.'

All IMHO.

 

[Ty1on]

Ok here is the final draft going out today via certified mail. I removed any negative words towards Westgate and their salesman. I want to keep it friendly, all those negative things will not help my cause.



Again, a HUGE thank you to everyone who has helped me through this. You have no idea how helpful you have truly been.

I will definitely comeback and give you guys updates on the process.

--Sammy

PS
I just got my first courtesy email from Westgate about missing this months payment. It was cordial and friendly, for now.

Wastegate....

The will absolutely contact you.

With threats to make your payments. I sincerely wish you luck.

 

[prosam]

Wastegate....

The will absolutely contact you.

With threats to make your payments. I sincerely wish you luck.

Yup. Got my first call yesterday. Very nice and friendly at first, even offering a payment plan. As soon as I mentioned the deedback request her tone changed, A LOT. She became hostile and pushy. I just held my ground. She obviously went through the whole shpeal about affecting my credit and foreclosure yadda yadda yadda. I said I understood. She said their would be more calls. I said I understood and would accept the call and kindly explain the same thing to them as I did her.

 

[taterhed]

Yup. Got my first call yesterday. Very nice and friendly at first, even offering a payment plan. As soon as I mentioned the deedback request her tone changed, A LOT. She became hostile and pushy. I just held my ground. She obviously went through the whole shpeal about affecting my credit and foreclosure yadda yadda yadda. I said I understood. She said their would be more calls. I said I understood and would accept the call and kindly explain the same thing to them as I did her.

There is no way to tell where this will go or end, but remember one thing:

Don't take any of it personal or let emotion creep into the equation--hard as that might be. Putting emotion on the table or giving the person on the other end of the phone/letter a personality will only make the situation worse and more stressful. Pretend everything is a robo-call or robo-letter.

 

[DeniseM]

At this point, I would not pick up the phone - let it go to voice mail.

Something to keep in mind: It is less expensive for Westgate to accept a deed back, than to go into foreclosure.

But they would much rather have you as a paying customer, because they don't want the timeshare back either!

So they are going to put a lot of pressure on you to try to get you to pay up, before they will consider a deed back or foreclosure - it will probably take months.

 

[Miss Marty]

prosam

Post Deleted
You got email

 

[Miss Marty]

prosam

Post Deleted
You got email

 

[Miss Marty]

Buying a Timeshare

It is not paid off. I just got it in February.

Q:
What enticed you to go on the timeshare tour in the first place? What did you and your wife like about the idea of owning a timeshare in Orlando? Did you accept the first offer or did you wait for the salesperson to negotiate a second or third offer? Did you get a brand new unit in a new building or something that was previously owned. Is it deeded every year usage of every other year? What size unit? How much are the annual maint. fees? Why did you regret your purchase after you first returned home?

 

[Miss Marty]

Timeshare: Orange County Deeds


Do you know that you can view Orange County
Florida deeds/mortgages online @

http://or.occompt.com/recorder/eagleweb/docSearch.jsp

 

[Miss Marty]

Westgate Lakes Resort Map pdf

Westgate Lakes
10000 Turkey Lake Rd
Orlando, Florida 32819

https://westgateresorts.com/resources/resort-map/resort-map-lakes.pdf