# [ 2019 ] What about foreclosure?



## awa (Jul 2, 2019)

I’m just curious about this after seeing that Transitions is $1000/contract now. Has anyone just stopped paying the maintenance fees and let Diamond foreclose?  I suppose someone who did that may not have much occasion to hang out on TUG but I thought I would ask. I’m curious how many years they let go by and how damaging it actually is to your credit rating. We have 7 paid off contracts and don’t intend to stop using them soon, but there seems to be a pretty clear trend of declining benefits and I suspect that soon we won’t think the MFs are worth it anymore. If we don’t need credit for any major purchases coming up... why not?


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## OldGuy (Jul 2, 2019)

It would be nice if people would post what the hit on their credit is . . . . since that has been speculated about since just before dirt.


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## Passepartout (Jul 2, 2019)

Everyone's situation is different. Some people- or their estate after they pass, might want to have their affairs 'in order'. If you are through traveling, and want to just stop paying MFs, why not give 'em away. Re-home them. List them fir free in Bargain Deals or Craig's List. This probably doesn't answer the OP's question, but it's my feelings on the subject. When you default, someone has to pay to keep the resorts maintained, and attractive. What is contemplated here is not fair to the rest of the owners.

My usual $.02 worth.

Jim


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## OldGuy (Jul 2, 2019)

Passepartout said:


> When you default, someone has to pay to keep the resorts maintained, and attractive. What is contemplated here is not fair to the rest of the owners.
> Jim



What do you think would happen if there was an annual Purge?

https://en.wikipedia.org/wiki/The_Purge_(TV_series)


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## awa (Jul 2, 2019)

We own points in a trust.  It’s not some small resort with only a few owners to share the burden of unforeseen expenses.  And it wouldn’t be a surprise to them. I’d offer them $250/contract to take them back, like it used to cost. $7000 to take them back is ridiculous. This is a case where they’ve identified a way to gouge people with no consequences. 

Besides, I’m sure their confident sales force could resell them in no time.


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## Grammarhero (Jul 2, 2019)

awa said:


> We own points in a trust.  It’s not some small resort with only a few owners to share the burden of unforeseen expenses.  And it wouldn’t be a surprise to them. I’d offer them $250/contract to take them back, like it used to cost. $7000 to take them back is ridiculous. This is a case where they’ve identified a way to gouge people with no consequences.
> 
> Besides, I’m sure their confident sales force could resell them in no time.



Up to you.  No one can accurately predict what the resort will do.  However, if the resort forecloses, they have a right to report such to the three credit agencies.  I understand you may not even need credit soon, so that might be your leverage.

Whether the TS go through with the hassle is another story.  Depends how diligent or lazy the TS default processor is.


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## WVBaker (Jul 2, 2019)

Also keep in mind how a change in your credit standing may affect you now.

_"Employers in most states have the right to run credit reports (the document that's reflected in your credit score) on their prospective employees. The version of the report presented to employers is not exactly the same that a lender would see, but it can still bring major red flags to light. According to LearnVest, "47% of employers run credit checks on job candidates primarily to reduce the potential for theft and embezzlement, reduce liability for negligent hiring, and assess trustworthiness."_


This is especially important in high-stakes jobs that require a lot of responsibility or deal with a lot of money, like positions in banking or government, but it can play an important role in an employer’s opinion of you for any position. People will always disagree whether or not it’s fair to consider an employee's credit report however, truth of the matter is that many do. A foreclosure will affect your credit score and if your credit is less than stellar, it may just keep you from getting that dream job.


_"When you have a low credit score that denotes a spotty credit history, lenders can decrease your limit if you do not make your payments on time. They could also decline your request for a credit line increase or lower APR on an existing card, Credit.com reports."_

https://www.businessinsider.com/how-your-credit-score-can-impact-your-life-2016-5#-5


Also, if you think may refinance your home loan, should you have one, you may not get the best interest rate? What if interest rates drop significantly in the future, and you decide you’d like to refinance?

Just some things to keep in mind.


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## Passepartout (Jul 2, 2019)

I think the OP is wanting somebody- ANYBODY- to give a decision he's already made validity. It isn't coming from here. Not when it's so easy to give away timeshares.

Jim


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## clifffaith (Jul 2, 2019)

Passepartout said:


> I think the OP is wanting somebody- ANYBODY- to give a decision he's already made validity. It isn't coming from here. Not when it's so easy to give away timeshares.
> 
> Jim



But is it easy to give away Diàmond? Then the new owner can't use Transitions to get out because Transitions claims not to be available to resale contracts. They'd also need to find someone to give it to. Anyone know how much the transfer of ownership fee is?


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## Grammarhero (Jul 2, 2019)

clifffaith said:


> But is it easy to give away Diàmond? Then the new owner can't use Transitions to get out because Transitions claims not to be available to resale contracts. They'd also need to find someone to give it to. Anyone know how much the transfer of ownership fee is?



I just bought a diamond.  Transfer fee is $300.


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## awa (Jul 2, 2019)

Passepartout said:


> I think the OP is wanting somebody- ANYBODY- to give a decision he's already made validity. It isn't coming from here. Not when it's so easy to give away timeshares.
> 
> Jim


Your assessment is incorrect, actually. I said we are going to keep using our membership for awhile. OP is a she, btw. And if you think it’s easy to give away a 4000 point contract in the US collection, then you haven’t looked recently. I just asked the question to gather data for a future decision that becomes more and more likely as the benefits continue to get stripped away. I just wanted to see what people had to say about it and maybe connect with someone who had done it. I appreciate all contributions to the conversation.


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## awa (Jul 2, 2019)

clifffaith said:


> But is it easy to give away Diàmond? Then the new owner can't use Transitions to get out because Transitions claims not to be available to resale contracts. They'd also need to find someone to give it to. Anyone know how much the transfer of ownership fee is?


Very good point. Three of our contracts are resale. I’d definitely try to give them away first and pay the $300. But if there are no takers then I’m wondering what comes next.


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## Grammarhero (Jul 2, 2019)

awa said:


> Very good point. Three of our contracts are resale. I’d definitely try to give them away first and pay the $300. But if there are no takers then I’m wondering what comes next.



What DRI TS do you have?


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## awa (Jul 2, 2019)

Grammarhero said:


> What DRI TS do you have?
> 
> 
> Sent from my iPhone using Tapatalk


They are points contracts in the US Collection.


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## OldGuy (Jul 3, 2019)

I'm just tickled pink that it has suddenly become easy to give away timeshares.  Wouldn't you know it, just after I spent ten years trying to give away 6 of ours!


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## awa (Jul 3, 2019)

OldGuy said:


> I'm just tickled pink that it has suddenly become easy to give away timeshares.  Wouldn't you know it, just after I spent ten years trying to give away 6 of ours!



LOL
If only you had waited until July 2019...


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## Egret1986 (Jul 4, 2019)

For anyone needing an estoppel from Diamond to give away or sell their contracts, think ahead and request it now.  At one time they indicated 7-10 days to get one.  My most recent request took 3 months and I had to keep checking on it.  I decided to go ahead and order estoppels for my remaining contracts.  The reason for the wait?  Heavy volumes.  Maybe that's due to the Transitions program and the flood gates opening for owners wanting out, when the idea of giving these things away doesn't pan out.  No matter what some say, not all timeshares can be given away.  That's the standard suggestion when folks start talking about walking away from their never-ending obligation.  Diamond saw another money-making opportunity.  Why should the exit companies get all that cash?  Diamond started charging $250, then $750 and now $1000 per contract.  This has been in a fairly short span of time.  What might it be by next year?  Charge what the market will bare, right?   Remember, Diamond has to agree to take your contract back; it's not a given.  So before you find that person to take your "free" contract, you better have that estoppel in hand or they may rethink things and walk away before Diamond sends it to you.


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## awa (Jul 4, 2019)

Egret1986 said:


> For anyone needing an estoppel from Diamond to give away or sell their contracts, think ahead and request it now



Holy cow, this is exactly the kind of info I was hoping for! Would you mind explaining to someone with no legal experience what that means? That’s a document that serves what purpose in the transaction? They don’t need to be dated within any particular time period before the change in ownership happens? How do you request them from Diamond?  Thanks so much for posting!


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## artringwald (Jul 6, 2019)

awa said:


> Holy cow, this is exactly the kind of info I was hoping for! Would you mind explaining to someone with no legal experience what that means? That’s a document that serves what purpose in the transaction? They don’t need to be dated within any particular time period before the change in ownership happens? How do you request them from Diamond?  Thanks so much for posting!



A seller needs to request an Estoppel letter from the resort in order to show the current status of the timeshare, points, usage availability and that there are no outstanding fees/loans. You can obtain this for free by contacting Diamond Resorts at: estoppelprocessing@diamondresorts.com  You will need to provide them with your member ID number and resort information to request this information.


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## awa (Jul 6, 2019)

artringwald said:


> A seller needs to request an Estoppel letter from the resort in order to show the current status of the timeshare, points, usage availability and that there are no outstanding fees/loans.



Thanks! So if I order them in 2019 to show the above but I don’t try to give the contracts away until 2021 (or whenever), will I need a new letter showing that MFs were paid in 2020 and 2021, etc. or will they just use the 2019 letter for loan and usage info and verify MFs with a phone call or something?


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## artringwald (Jul 6, 2019)

awa said:


> Thanks! So if I order them in 2019 to show the above but I don’t try to give the contracts away until 2021 (or whenever), will I need a new letter showing that MFs were paid in 2020 and 2021, etc. or will they just use the 2019 letter for loan and usage info and verify MFs with a phone call or something?



You need to ask for one each year. I don't know if it's the same for all timeshare companies, but DRI won't let buyers assume the loan. The loan must be paid in full before the transfer.


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## Xolodno (Aug 7, 2019)

awa said:


> I’m just curious about this after seeing that Transitions is $1000/contract now. Has anyone just stopped paying the maintenance fees and let Diamond foreclose?  I suppose someone who did that may not have much occasion to hang out on TUG but I thought I would ask. I’m curious how many years they let go by and how damaging it actually is to your credit rating. We have 7 paid off contracts and don’t intend to stop using them soon, but there seems to be a pretty clear trend of declining benefits and I suspect that soon we won’t think the MFs are worth it anymore. If we don’t need credit for any major purchases coming up... why not?




I'll tell you my experience. I had 10k in points, completely paid for, but bought them way below what they are selling them for now.  So long story short, wife had serious medical issues, my father passed and left my mother essentially homeless, etc. Long story short, bought a place super cheap for her, took a hard hit on my credit.  No way in hell I was going to make the 2k payment in time.  I called DRI (when Cloobeck ran it) and explained the situation and told the agent I could make the full payment with late fee's once I got my bonus in spring. He explained that I could post date the payment and avoid the late fee's, I was thankful. I also told him that given the circumstances, I'm probably going to be late for a couple of years.  He stated he didn't see a problem with that and just call if I couldn't make it by the due date.  One problem solved...so I thought....

Next year, still trying to keep the screws down, with both my wife's and mothers health. Again, wasn't going to make the MF payment until spring.  So I called, like I was instructed...and the agent said they could not do that (Cloobeck was pretty much out of power by this point).  So he referred me to the manager....that bitch was giddy with the fact that I might lose my timeshare.  I made the payment in spring with the late fee's...and they hit my credit report on one of the companies.

But something happened shortly after that, I got a promotion with a huge pay raise, my Mom was taken care of and my wife was well.  So we decided, to "go for it" and take that European Vacation.  But when I was looking at booking the DRI resort near Paris...noticed the obscene point cost.  Points to dollars, it was about $1200....yet Interval had the week for $450 in January.  I booked through Interval....and I was pissed, fyi, this was in May.  Fast forward to September, we were staying at the Polo Towers for the weekend....and gave in to the "Owners Update".   Said "no" to everything...then the closing manager came by and said "Well, if you buy the Sampler, we will waive your Maintenance Fee's for next year".  I inquired the price, surprise, surprise, it was the same price as the MF's, but slightly higher. And as someone who works in Marketing Analytics, seemed plausible, they were on the hook for the MF's already. So I make payments with interest, slightly higher than my MF's while trying to sucker me into buying more later via hard sell.  I get it, I'm still paying for the MF's in a round about way, but also subsidizing their cost a little.  Make's sense to me.  On top of that, the Sales Manger stated that I will get a MF bill, but to just ignore it as it's pre-programmed into their system.

I really underestimated their greed....

So I had the cash on hand to pay for the maintenance fee's on time for the first time in two years.  But since it wasn't all "due at once" being waived and in the form of payments of the sampler, decided to splurge a bit while in Europe.  And we had an awesome time...and used Interval the whole time as DRI points didn't make any economical sense.

So, we get back home.  And about late February, given the threatening notices...I call DRI.  Long story short, Sales Manager was fired, and MF's would not be waived AND I was still required to pay the MF's with late fee's.  I had one thing on them....the Sales Manager wrote the MF's waiver on paper...and texted me the guarantee, which I kept.  In this rare case, I got my money back on the Sampler.  But it was too late....

I had spent the money for the MF's already on a false pretense.  My patience had come to an end.  Given the false assurance from the Sales Manager, the cost per point on a off season vacation and the rude manger who was all to happy to wish me misery....I had enough.  No point in throwing good money after bad...even if I do take a hit on my credit report....which I was prepared to challenge.

I emailed DRI, given the circumstances (mentioned above), I would not make any MF's.

I got one email that someone would reach out to me.  We got one message on our phone from a rep from DRI....I didn't return the call. I wanted to see if they would make more attempts...they didn't.  End of story, I logged into my account on DRI, and it said I no longer had a membership.  No hits to my credit report (aside from what I mentioned above). 

But what's weird, they are still paying for my II membership. but have not used it.  I have bought Worldmark on Ebay since then for less than the MF's for DRI...and we are enjoying it.  I think about buying DRI on Ebay every once in awhile, because I do like some of the resorts...but then I see the price of MF's for 5k points...and it brings me back to my senses.


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## awa (Aug 7, 2019)

Thanks for posting your story!


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## Grammarhero (Aug 7, 2019)

Xolodno said:


> I'll tell you my experience. I had 10k in points, completely paid for, but bought them way below what they are selling them for now.  So long story short, wife had serious medical issues, my father passed and left my mother essentially homeless, etc. Long story short, bought a place super cheap for her, took a hard hit on my credit.  No way in hell I was going to make the 2k payment in time.  I called DRI (when Cloobeck ran it) and explained the situation and told the agent I could make the full payment with late fee's once I got my bonus in spring. He explained that I could post date the payment and avoid the late fee's, I was thankful. I also told him that given the circumstances, I'm probably going to be late for a couple of years.  He stated he didn't see a problem with that and just call if I couldn't make it by the due date.  One problem solved...so I thought....
> 
> Next year, still trying to keep the screws down, with both my wife's and mothers health. Again, wasn't going to make the MF payment until spring.  So I called, like I was instructed...and the agent said they could not do that (Cloobeck was pretty much out of power by this point).  So he referred me to the manager....that bitch was giddy with the fact that I might lose my timeshare.  I made the payment in spring with the late fee's...and they hit my credit report on one of the companies.
> 
> ...



Sorry for what you went through.  Thanks for sharing.  Your story will be helpful for other DRI TS owners.


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## chemteach (Aug 14, 2019)

For those posters who think giving away a DRI timeshare is easy, please do your homework.  I have watched eBay auctions over the past few years.  DRI US Collections don't sell.  Not even when current year maintenance fees are paid and the current use year is free to the buyer.  DRI deeds/collection ownerships are VERY Difficult to get rid of.


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## Grammarhero (Aug 14, 2019)

True story.  At work, I’m known as the Timeshare Shark for my $1 TS purchases.  Two Co-workers both offered me to buy their timeshares, both having purchased for $10k.  

One has Marriott, so I offered $3k, as it’d be nice to splurge on a TS for once.  The other has DRI Orlando, so I offered $1.  I also directed him to transitions.


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## SHG (Aug 20, 2019)

chemteach said:


> For those posters who think giving away a DRI timeshare is easy, please do your homework.  I have watched eBay auctions over the past few years.  DRI US Collections don't sell.  Not even when current year maintenance fees are paid and the current use year is free to the buyer.  DRI deeds/collection ownerships are VERY Difficult to get rid of.


chemteach, you make a point that DRI is difficult to give away. I just signed up for DRI Transitions yesterday. I have a Riviera Beach and Spa that it is time to get rid of. Do you think DRI will take this back??


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## chemteach (Aug 20, 2019)

SHG said:


> chemteach, you make a point that DRI is difficult to give away. I just signed up for DRI Transitions yesterday. I have a Riviera Beach and Spa that it is time to get rid of. Do you think DRI will take this back??


Transitions should work.  I was saying that it's difficult to give DRI units away to other people for free.  They should let you know pretty quickly if they will take it.


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## SHG (Aug 20, 2019)

chemteach said:


> Transitions should work.  I was saying that it's difficult to give DRI units away to other people for free.  They should let you know pretty quickly if they will take it.


Well, interestingly, they have responded already. I did not qualify because "All future reservations must be cancelled, or traveled on prior to submitting a request". I have a deposit sitting in Interval for April 2020. I was not sure they would count that..... Now I know.
Not sure how to handle this now... If I wait until April of next year (after this reservation date), I will no longer be able to even make a reservation. This means that if they deny my request for some other reason, I will be unable to even get a week.... I need a better plan.


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## Grammarhero (Aug 20, 2019)

SHG said:


> Well, interestingly, they have responded already. I did not qualify because "All future reservations must be cancelled, or traveled on prior to submitting a request". I have a deposit sitting in Interval for April 2020. I was not sure they would count that..... Now I know.
> Not sure how to handle this now... If I wait until April of next year (after this reservation date), I will no longer be able to even make a reservation. This means that if they deny my request for some other reason, I will be unable to even get a week.... I need a better plan.



Sorry.  What DRI resort is it?


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## SHG (Aug 20, 2019)

Grammarhero said:


> Sorry.  What DRI resort is it?



Riviera Beach and Spa. With a guaranteed summer week....


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## Grammarhero (Aug 20, 2019)

SHG said:


> Riviera Beach and Spa. With a guaranteed summer week....


I have DRI South Bend.  I mostly go there to visit SB and Chicago as a side trip.


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## chemteach (Aug 21, 2019)

SHG said:


> Riviera Beach and Spa. With a guaranteed summer week....


That one they should definitely take. You might have been able to actually sell that week.  Not for much...  YOu might want to put it up in the freebies section on TUG.  Many people want SoCal summer weeks.  It could save you the $1000 it now costs to do transitions.


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## clifffaith (Aug 21, 2019)

chemteach said:


> That one they should definitely take. You might have been able to actually sell that week.  Not for much...  YOu might want to put it up in the freebies section on TUG.  Many people want SoCal summer weeks.  It could save you the $1000 it now costs to do transitions.



Don't know how that would work with an April exchange still pending.

I have had only a few idle inquiries on Diàmond Facebook about taking on my free 10K Hawaii points, I'll pay transfer fee. I expect to have to offload it via Transitions and pay Diàmond $1K to take it back. I have two more 2019 vacations in October, and will apply for Transitions the first of that month.


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## chemteach (Aug 21, 2019)

clifffaith said:


> Don't know how that would work with an April exchange still pending.
> 
> I have had only a few idle inquiries on Diàmond Facebook about taking on my free 10K Hawaii points, I'll pay transfer fee. I expect to have to offload it via Transitions and pay Diàmond $1K to take it back. I have two more 2019 vacations in October, and will apply for Transitions the first of that month.


??  I must have missed something about an exchange.  I thought SHG just wanted to get rid of their summer Riviera Beach and Spa week.  That week is worthwhile.  Diamond Hawaii is difficult to get rid of because the maintenance fees are so high.


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## clifffaith (Aug 21, 2019)

chemteach said:


> ??  I must have missed something about an exchange.  I thought SHG just wanted to get rid of their summer Riviera Beach and Spa week.  That week is worthwhile.  Diamond Hawaii is difficult to get rid of because the maintenance fees are so high.



We don't find the maintenance fees for HI all that high compared to US. However anyone who doesn't already own in the HI collection would have to now pay club fees for that collection on top of whatever other club base fees they pay for the collections they own.


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## R.J.C. (Aug 25, 2019)

awa said:


> We own points in a trust.  It’s not some small resort with only a few owners to share the burden of unforeseen expenses.  And it wouldn’t be a surprise to them. I’d offer them $250/contract to take them back, like it used to cost. $7000 to take them back is ridiculous. This is a case where they’ve identified a way to gouge people with no consequences.
> 
> Besides, I’m sure their confident sales force could resell them in no time.



Therein lies the biggest problem. a 400% increase in the Transitions fee for no reason at all (other than to either make more profit or attempt to slow down the number of people applying for Transitions). It seems they are pushing owners who want out to just walk away because Diamond contracts seem to be hard to even give away.


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## R.J.C. (Aug 25, 2019)

Passepartout said:


> I think the OP is wanting somebody- ANYBODY- to give a decision he's already made validity. It isn't coming from here. Not when it's so easy to give away timeshares.
> 
> Jim



It depends on the timeshare company and the collection within that company that determines how "easy" is is to give away a timeshare.


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## goaliedave (Aug 26, 2019)

clifffaith said:


> We don't find the maintenance fees for HI all that high compared to US. However anyone who doesn't already own in the HI collection would have to now pay club fees for that collection on top of whatever other club base fees they pay for the collections they own.


I own DRI HI and agree with you, the MF are similar to US Collection ($100 different at 30,000 points).

Your issue is that paying tfr fee is not enough to entice. the successful ones offer a free week as well. in your case it might be best to use Transitions, but you are late in the year so they might not process it until after 2020 MF are paid.

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## clifffaith (Aug 26, 2019)

goaliedave said:


> I own DRI HI and agree with you, the MF are similar to US Collection ($100 different at 30,000 points).
> 
> Your issue is that paying tfr fee is not enough to entice. the successful ones offer a free week as well. in your case it might be best to use Transitions, but you are late in the year so they might not process it until after 2020 MF are paid.
> 
> Sent from my SM-J327W using Tapatalk



If we're late, we're late, but I plan to let them know in about 30 days that we want to transition, that will give us time to finish two timeshare stays in October. I'm already figuring they could be pissy about it because only 14K of 24K points are left in 2020, and they might claim we've used our points, even though they could take us down to a balance of 4K and still stake their 10. Cliff had another inquiry via PM from Facebook today. Since now she has to "ask her husband" (the death knell to a sale in my old line of work), I honestly don't expect that to go anywhere.


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## goaliedave (Aug 26, 2019)

Elsewhere on TUG you will have read that (1) the estoppel letter from DR takes up to 10 weeks (so you should request it asap) and that your Transitions application will be denied until all bookings are completed (so you must wait to apply more than your planned 30 days from now).

In your case as you have used some 2020 points you must pay the 2020 MF before àny application for transfer or Transitions. 

it's normal business practice not DR being "pissy". I would recommend you call DR to understand fully the consequences. 


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## clifffaith (Aug 26, 2019)

Well, when we got rid of our US points three years ago they sent us paperwork in April and told us to send it back notarized and with payment when we were done with our vacations. So we walked out of Villas de Santa Fe and dropped our paperwork off at the post office at the end of July. The timing may be different these days, we'll find out. We'd of course still expect to be paying maintenance fees on 14,500 points (from our remaining two contracts 10K+4K), even though we would only have 4500 left to use after they took back the third contract, and if they want some or all of the fees early, so be it. And we already plan to pay off the rest of our 2019 maintenance fees next month (this month we have my darn dental implant to pay for). If it turns out we have a live one who really does want our points, but a transfer is going to take too long, we'll figure out what to do at that point. If it doesn't work out this year, we'll take our usual Sedona-Santa Fe-Scottsdale trip to use up our 2020 points, leaving 2021 points intact. There is very little time and effort I'd expend to give someone 10K points, when for $1,000 I can just be done with it. Cliff may feel differently.


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## goaliedave (Aug 26, 2019)

I understand. there are many follow your train of thought. those that offer best incentives perhaps understand the demographics and timeshare trends best.

  I predict the ts companies will continue to reduce their 'takebacks' ; so hopefully that option will still be available to you when required. Best of luck!

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## clifffaith (Aug 26, 2019)

goaliedave said:


> I understand. there are many follow your train of thought. those that offer best incentives perhaps understand the demographics and timeshare trends best.
> 
> I predict the ts companies will continue to reduce their 'takebacks' ; so hopefully that option will still be available to you when required. Best of luck!
> 
> Sent from my SM-J327W using Tapatalk



What is new now compared to before is the Transitions page which when clicked shows our three accounts 10K, 3K, 11.5K (mis-spoke above about contract allotments) with a little check box next to each. Figured it won't hurt to click on the 10K account now. It gives a message saying the account will be reviewed, or something. That ought to give us a running jump at seeing if they have any issues, and/or telling us what all needs to be paid before they deign to allow us to pay them $1,000 for the pleasure of taking it back.


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## Fredflintstone (Aug 26, 2019)

goaliedave said:


> I understand. there are many follow your train of thought. those that offer best incentives perhaps understand the demographics and timeshare trends best.
> 
> I predict the ts companies will continue to reduce their 'takebacks' ; so hopefully that option will still be available to you when required. Best of luck!
> 
> Sent from my SM-J327W using Tapatalk



Actually, I think the TS will increase their take backs and here is why:

1. More and more states are moving toward anti deficiency laws where all the resort can do is get the TS back. This means they can either take it back or eat it through foreclosure. Even though many states have non judicial foreclosure that makes the process cheap and quick, it’s still cheaper to take back the TS.

2. Some resorts are seeing increased profits from resales. If they don’t need to pay for foreclosure and even get a check for taking it back, they are much farther ahead.




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## goaliedave (Aug 26, 2019)

Fredflintstone said:


> Actually, I think the TS will increase their take backs and here is why:
> 
> 1. More and more states are moving toward anti deficiency laws where all the resort can do is get the TS back. This means they can either take it back or eat it through foreclosure. Even though many states have non judicial foreclosure that makes the process cheap and quick, it’s still cheaper to take back the TS.
> 
> ...


some ts companies have already stopped. some are only taking Hawaii. they are raising their fees to restrict demand... classic economics and demographics.

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## goaliedave (Aug 26, 2019)

clifffaith said:


> What is new now compared to before is the Transitions page which when clicked shows our three accounts 10K, 3K, 11.5K (mis-spoke above about contract allotments) with a little check box next to each. Figured it won't hurt to click on the 10K account now. It gives a message saying the account will be reviewed, or something. That ought to give us a running jump at seeing if they have any issues, and/or telling us what all needs to be paid before they deign to allow us to pay them $1,000 for the pleasure of taking it back.


Great idea! here on social media you'll see lots of unsupported theories and varied experiences ... best to check them out wrt your personal situation. Ask them forcthe estoppel letter while you are at it, it's free (for now) and will be needed if you sell.

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## Grammarhero (Sep 18, 2019)

SHG said:


> Riviera Beach and Spa. With a guaranteed summer week....



@SHG we hope you are doing well.  Would you kindly update us with what you decided to do?  Was there an affect on your credit score?


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## Grammarhero (Jan 9, 2020)

SHG said:


> Riviera Beach and Spa. With a guaranteed summer week....


Haven't heard from you in a while.  Would you kindly PM me or let us know if your credit got affected??


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## SHG (Jan 9, 2020)

Grammarhero said:


> Haven't heard from you in a while.  Would you kindly PM me or let us know if your credit got affected??


Sorry, I didn't see this message.....
Anyway, there is no affect on my credit score since I have not stopped paying on my unit. It is still current. I did post an ad in the cheap timeshare section and had some inquiries, but no takers yet....


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## Robert Long (Dec 15, 2021)

chemteach said:


> For those posters who think giving away a DRI timeshare is easy, please do your homework.  I have watched eBay auctions over the past few years.  DRI US Collections don't sell.  Not even when current year maintenance fees are paid and the current use year is free to the buyer.  DRI deeds/collection ownerships are VERY Difficult to get rid of.


So are you saying it's better to just quit paying the maintenance fee if you have decided to let go of your timeshare?  Are you saying that's much easier than trying to sell it? We have a timeshare in Mexico but have since moved to Costa Rica.  Why go to Mexico when we have everything we want here!  So we want to get rid of our Hacienda Tres Rios timeshare.  But they won't take it back.  We are all paid up except, of course, for maintenance fees that we owe every two years.


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## DeniseM (Dec 15, 2021)

Please note - this thread is from 2019.


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## Robert Long (Dec 16, 2021)

chemteach said:


> For those posters who think giving away a DRI timeshare is easy, please do your homework.  I have watched eBay auctions over the past few years.  DRI US Collections don't sell.  Not even when current year maintenance fees are paid and the current use year is free to the buyer.  DRI deeds/collection ownerships are VERY Difficult to get rid of.


Thanks, that's very helpful!


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## Robert Long (Dec 16, 2021)

Robert Long said:


> Thanks, that's very helpful!


Thanks for letting me know.  I'm struggling to navigate this site.  I still haven't found the historical sales area. If you could tell me how I would appreciate it.


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## Passepartout (Dec 16, 2021)

Robert Long said:


> Thanks for letting me know.  I'm struggling to navigate this site.  I still haven't found the historical sales area. If you could tell me how I would appreciate it.


Robert, there is no deed on Mexican timeshares, therefore nothing to foreclose. Stop paying and your membership will end. They may email/write/call and try to add late fees or bluster you somehow, but there is nothing they can do to your credit. 

Welcome to TUG

Jim


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