# Need out of my timeshare ASAP!!!!!



## ldub (Oct 30, 2012)

Hello.

  Does anyone know how I can legally get out of my timeshare with Wyndham? I was a fool last summer to buy into the resort in San Antonio while at Sea World.  It sounded good, until I went home and did further research. I have been paying on this property for 13 months now and have yet to use it because we only purchased 64K points w/64K bonus.  I know sit with 128K points but cant even get a room for two nights at my resort during peak season!:annoyed: I feel like such a heel, but need to get from under this if possible. I pay $200 a month including maint fees, so I have already paid over $2600 into this and haven't used once!  Really need sound advice.  Please help if you can.


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## am1 (Oct 30, 2012)

You will be lucky to pay off the timeshare, offer it for free and pay the closing and transfer fees.


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## vacationhopeful (Oct 30, 2012)

Keep reading. You can't sell anything with a loan on it. 

Look in you Owner's Manual for "Credit Pooling" your 2013 points (banking). 

Deposit your 64K of Wyndham 2012 points into RCI.

Remember, MOST Bonus Points are good for 18 months - so look for a place to use them within the next 4.5 months. Even for a midweek stay.

And to NOT pay for Reservation Transactions (RTs), do all this within 1 calendar day.

Other reading (terms to learn): Credit pooling, reservation transactions, housekeeping credits (HKs), RCI & exchanging, ARP transactions, external exchange companies, ARP (Advance reservation priority).

Also, look at eBAY. For as little as $1, you can add MORE Wyndham points to your member number. Yes, you would have more MFs, but you could book a week somewheres for a vacation. *BUT* study this site for 6 months and learn how to use Wyndham and the number of points YOU truly need before you impatiently buy something stupidly.

PS People on these boards also regularly GIVE away for free Wyndham points contracts all the time. Yes, free points!


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## lcml11 (Oct 30, 2012)

am1 said:


> You will be lucky to pay off the timeshare, offer it for free and pay the closing and transfer fees.



OR

Learn to use and enjoy the timeshare.  There are some off peak periods that you points are large enough to get into.  You do not want to hear this, but you could buy another one re-sale to bring your point count up.


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## ldub (Oct 30, 2012)

am1 said:


> You will be lucky to pay off the timeshare, offer it for free and pay the closing and transfer fees.



Thanks am1,
  But if I just give it away, am I not still liable for the remaining balance on my loan? Or are you saying, when I give it away and pay the closing and transfer fees, the other party becomes liable for the deal?  Do you know anyone who has had success with this regarding a Wyndham timeshare?


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## vacationhopeful (Oct 30, 2012)

ldub said:


> Thanks am1,
> But if I just give it away, am I not still liable for the remaining balance on my loan? Or are you saying, when I give it away and pay the closing and transfer fees, the other party becomes liable for the deal?  Do you know anyone who has had success with this regarding a Wyndham timeshare?



am1 first line was to "pay off the timeshare".


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## ldub (Oct 30, 2012)

vacationhopeful said:


> Keep reading. You can't sell anything with a loan on it.
> 
> Look in you Owner's Manual for "Credit Pooling" your 2013 points (banking).
> 
> ...



Excellent info, thanks vacationhopeful!   Time for me to get to reading and studying, may not be as bad as I thought!:whoopie: Do you have a quick link to a posting for free points?


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## vacationhopeful (Oct 30, 2012)

ldub said:


> Do you have a quick link to a posting for free points?



No, read my advice ... DON'T increase your point count UNTIL you learn what and how much you need!


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## ldub (Oct 30, 2012)

lcml11 said:


> OR
> 
> Learn to use and enjoy the timeshare.  There are some off peak periods that you points are large enough to get into.  You do not want to hear this, but you could buy another one re-sale to bring your point count up.



Never thought about that.  May be worth looking into.  Thanks lcml11!


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## ldub (Oct 30, 2012)

vacationhopeful said:


> No, read my advice ... DON'T increase your point count UNTIL you learn what and how much you need!



Understood.  Thanks again.


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## Rent_Share (Oct 30, 2012)

Doesn't hurt to ask for a deed back in lieu of foreclosure - Not likely with Wyndham

Let it go into default at the cost of yoru credit profile for 7 Years

If you can protect your home that may not be as big of a hit as paying the loan with the interest


BTW - Free Points Increase your monthly maintenance fee obligations, that's why they are being given away free.


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## ldub (Oct 30, 2012)

vacationhopeful said:


> am1 first line was to "pay off the timeshare".



Understood.  I will just look at paying it off as quickly as possible, study this site and get into fully understanding my timeshare and what it has to offer me and my family.  Thanks again to everyone for there very quick replies.


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## ldub (Oct 30, 2012)

Rent_Share said:


> Doesn't hurt to ask for a deed back in lieu of foreclosure - Not likely with Wyndham
> 
> Let it go into default at the cost of yoru credit profile for 7 Years
> 
> ...



Thanks Rent_Share.  Now I see why vacationhopeful was telling me not to increase my points until I know exactly how many points I will need.


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## ronparise (Oct 30, 2012)

As you have figured out 64000 is a very small account. The bonus 64000 were designed to give you enough ppoints to use, and the expectation was that you would like it so much, you would come back and by more to replace the bonus points

You probably owe something in the neighborhood of $10000 on this purchase.

As has been said or at east alluded to;  the one way to get out of this, other than defaulting on your loan, is to pay off the loan and give away the contract..

or you figure out how to use it

The cost in points to stay at your home resort is high, but drive a few hours to New Orleans, for example, and you have enough for a weekend in the Fall

Other possibilities

1) throw good money after bad and average down...buy more points on the resale market (they are almost free) so that your average cost per point is much less.   I just bought a million points for $1000 If you were to do this, you would have new maintenance fees of about $450 a month, plus the $200 you are spending now, but you would have something you could use..about 5 weeks at your home resort in prime season for about $200 a night...not great but not terrible either

2) use Your RCI account to make last call reservations at under $300 a week. 5 of these will cost about $1500 add that to the $2400 a year you are spending now and your vacation cost will be about $100 a night

Of course the last resort would be walk away, ie to default There will be consequences, like a hit to your credit, but its not illegal, and you wont go to jail


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## ldub (Oct 30, 2012)

ronparise said:


> As you have figured out 64000 is a very small account. The bonus 64000 were designed to give you enough ppoints to use, and the expectation was that you would like it so much, you would come back and by more to replace the bonus points
> 
> You probably owe something in the neighborhood of $10000 on this purchase.
> 
> ...



Thank you ronparise! Excellent info! You are right I owe about $10K!  I stay only 3 hrs from New Orleans, so that is definitely worth a shot! :whoopie: I am traveling to VA for Thanksgiving and I am hoping to use my points at a resort or an RCI exchange.  I am newbie to all of this, so is there any additional info you can provide or a maybe a link to somewhere on this site so I can really learn about RCI and how that relates to my Wyndham points?  I am excited about the possibilities now, versus selling.  I just need to figure how many points I want so I can determine what the maint fees would be.


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## vacationhopeful (Oct 30, 2012)

ldub said:


> ... I am traveling to VA for Thanksgiving and I am hoping to use my points at a resort or an RCI exchange...:



See, you have owned for over a year. I booked Kingsgate for Thanksgiving 8+ months. Need to rent a unit.

Planning is a BIG requirement of owning Wyndham points.


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## ldub (Oct 30, 2012)

vacationhopeful said:


> See, you have owned for over a year. I booked Kingsgate for Thanksgiving 8+ months. Need to rent a unit.
> 
> Planning is a BIG requirement of owning Wyndham points.



Linda,

  Do you think its too late to book a room at the Kingsgate? Not quite sure what you mean when you say "Need to rent a unit".  I apologize for my ignorance when it comes to this, but it's my fault for not asking these type questions sooner.


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## Rent_Share (Oct 30, 2012)

Depending on your overall sitiation I don't know that I would tank my credit over a a $ 10,000 mistake.  I assumed it was in the $30-40,000 Range

For less than $ 250 you should be able to get competent advice from a local attorney, preferably inthe bankruptcy area


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## ronparise (Oct 30, 2012)

Rent_Share said:


> Depending on your overall sitiation I don't know that I would tank my credit over a a $ 10,000 mistake.  I assumed it was in the $30-40,000 Range
> 
> For less than $ 250 you should be able to get competent advice from a local attorney, preferably inthe bankruptcy area



David

Just to be clear I wasnt suggesting bankruptcy. I wasnt even suggesting a default, I was just presenting it as an option. 

As it turns out the op has reversed his thinking completely and is now excited about his ownership


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## ldub (Oct 30, 2012)

Thanks David.


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## lcml11 (Oct 30, 2012)

ldub said:


> Linda,
> 
> Do you think its too late to book a room at the Kingsgate? Not quite sure what you mean when you say "Need to rent a unit".  I apologize for my ignorance when it comes to this, but it's my fault for not asking these type questions sooner.



If you get it before it is gone.  You can get a 1 bedroom B-side unit at Patriot's Place for 5 nights.  This is one of the 3 Williamsburg Wyndham locations.

11/18/2012 5 1 Bedroom B-side   35,000  17,500


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## ldub (Oct 30, 2012)

ronparise said:


> David
> 
> Just to be clear I wasnt suggesting bankruptcy. I wasnt even suggesting a default, I was just presenting it as an option.
> 
> As it turns out the op has reversed his thinking completely and is now excited about his ownership



That's correct Ron.  I just need to learn as much as I can and potentially get more points and figure out the maint fees based upon my budget.  Q.  If I picked up an additional 128K points from soneone, then my fees would go from $50 to $150 a month right? Since my total number will increase to 192K points anually.  Am I off in my thinking?


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## ldub (Oct 30, 2012)

lcml11 said:


> If you get it before it is gone.  You can get a 1 bedroom B-side unit at Patriot's Place for 5 nights.  This is one of the 3 Williamsburg Wyndham locations.
> 
> 11/18/2012 5 1 Bedroom B-side   35,000  17,500



Woohoo!!! Thanks lcml11!!!! So, do I need to just deposit that number of points into my RCI account, book and I should be good to go?  Are there any fees I will have to pay upon departure?  At my resort there are no departure fees, however this will now be through RCI.


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## lcml11 (Oct 30, 2012)

ldub said:


> Woohoo!!! Thanks lcml11!!!! So, do I need to just deposit that number of points into my RCI account, book and I should be good to go?  Are there any fees I will have to pay upon departure?  At my resort there are no departure fees, however this will now be through RCI.



Not through RCI.  Just go to your Wyndham Account, select the region as southeast, select Patriot's Place, and book it.


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## vacationhopeful (Oct 30, 2012)

ldub said:


> Woohoo!!! Thanks lcml11!!!! So, do I need to just deposit that number of points into my RCI account, book and I should be good to go?  Are there any fees I will have to pay upon departure?  At my resort there are no departure fees, however this will now be through RCI.



That is a booking directly with your Wyndham points. 35K in Wyndham points (the 17.5 is there 50% Platimum discounted costs in Wyndham points)

. Go looking in your Owner's Manual --- for the makeup of size for that small unit. It might only sleep 2 persons, have only a kitchenette to cook your T-giving turkey or have no living room. Patriot Place is the oldest and smallest of the Wyndham's in Williamsburg. Read and look at the others 2 Wyndhams -- both of which have indoor pools; both which takes more points.


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## lcml11 (Oct 30, 2012)

vacationhopeful said:


> That is a booking directly with your Wyndham points. 35K in Wyndham points (the 17.5 is there 50% Platimum discounted costs in Wyndham points)
> 
> . Go looking in your Owner's Manual --- for the makeup of size for that small unit. It might only sleep 2 persons, have only a kitchenette to cook your T-giving turkey or have no living room. Patriot Place is the oldest and smallest of the Wyndham's in Williamsburg. Read and look at the others 2 Wyndhams -- both of which have indoor pools; both which takes more points.



Room is on the small side.  However, guests of Patriot's place get use of the in-door facilities (including a in-door pool) at Kingsgate for free.  Kingsgate guests have to pay for the use of the facilities.


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## ldub (Oct 30, 2012)

Even better!! Thanks lcml11!!


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## lcml11 (Oct 30, 2012)

ldub said:


> Even better!! Thanks lcml11!!



Your welcome.


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## ldub (Oct 30, 2012)

Understood, thanks Linda.


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## Passepartout (Oct 30, 2012)

I certainly wish ldub nothing but the finest timeshare vacations. In some years hanging out here, I can't remember being witness to so sudden a reversal. From his/her first 'How to get out of this timeshare ASAP' to being ready, willing and able to buy more points resale and book a week ASAP all in the course of 1 1/2 hours. It's like an epiphany.

Best wishes and welcome to TUG.

Jim


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## ldub (Oct 30, 2012)

Passepartout said:


> I certainly wish ldub nothing but the finest timeshare vacations. In some years hanging out here, I can't remember being witness to so sudden a reversal. From his/her first 'How to get out of this timeshare ASAP' to being ready, willing and able to buy more points resale and book a week ASAP all in the course of 1 1/2 hours. It's like an epiphany.
> 
> Best wishes and welcome to TUG.
> 
> Jim


LOL!!:hysterical: :rofl: Thanks Passepartout.  You are right, I have had an epiphany! This is due to the fact that I am now just asking questions that I should have asked last year.  Just found a resort I can go to for 64K pts and that's due to the info I've received from the fine folks here on TUG!!  I am thankful for all the help and will continue to see what more i can learn to properly use my timeshare.  Bottom-line, my wife will be pleased with the findings, so I may have earned some points with her!:rofl:  Thanks again all!!!


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## vacationhopeful (Oct 30, 2012)

All he needs to do now is spend his $15 to become a MEMBER here ... to get access to Resort Reviews and the Sightings/Distressed thread.  He then could leverage his Wyndham points into full weeks at Disney Vacation Club units.


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## lcml11 (Oct 30, 2012)

vacationhopeful said:


> All he needs to do now is spend his $15 to become a MEMBER here ... to get access to Resort Reviews and the Sightings/Distressed thread.  He then could leverage his Wyndham points into full weeks at Disney Vacation Club units.



Giving away good deal secrets?


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## ldub (Oct 30, 2012)

lcml11 said:


> Giving away good deal secrets?



:hysterical: Love it!! Thanks all!  I am getting my full membership ASAP!!!!! :whoopie:


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## vacationhopeful (Oct 30, 2012)

lcml11 said:


> Giving away good deal secrets?



Figured you knew all the secret handshakes with your Wyndham Platimum account and your 15 day old membership here on TUG. 

So, you too can become a TUG MEMBER for $15 and view both the member/peer resort reviews and the Sightings/Distress Thread.


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## markb53 (Oct 30, 2012)

I was exactly where the OP was. I bought a small contract from Wyndham about 18 months ago. Spent way to much money (fortunately I was able to pay it off in 9 months). Like the OP, I thought I was going to have a hard time using just 77k points. Then I found TUG. I read the directory cover to cover probably about 5 times. Spent a year reading and learning from the great people on TUG. And about a month ago I bought my first resale contract on eBay. Hopefully it will be in my account within a few weeks.  As many people have said, best to spend a lot of time learning before you ever buy more points resale. The best news is, the OP bought an even a smaller contract than me. 

Enjoy your many years of Wyndham Vacations.


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## ldub (Oct 30, 2012)

markb53 said:


> I was exactly where the OP was. I bought a small contract from Wyndham about 18 months ago. Spent way to much money (fortunately I was able to pay it off in 9 months). Like the OP, I thought I was going to have a hard time using just 77k points. Then I found TUG. I read the directory cover to cover probably about 5 times. Spent a year reading and learning from the great people on TUG. And about a month ago I bought my first resale contract on eBay. Hopefully it will be in my account within a few weeks.  As many people have said, best to spend a lot of time learning before you ever buy more points resale. The best news is, the OP bought an even a smaller contract than me.
> 
> Enjoy your many years of Wyndham Vacations.



Thanks markb53.  I will definately do my research and learn all I can so I too can eventually buy my first resale contract on eBay .


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