# HCC financing info



## Steamboat Bill (May 7, 2008)

I generally do NOT advise financing a DC purchase or a timeshare purchase, but there may be personal, business, or tax reasons to finance a purchase rather than paying cash. HCC has a new financing option.

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Thinking about financial leverage for your one-time membership fee? High Country Club has removed the hassle through our established relationship with JP Morgan Chase, one of the leading global financial services firms in the world. Now you can finance your one-time membership fee for as little as $199.54 a month.

For qualifying members, JP Morgan Chase will establish a home equity line of credit with a variable interest rate, which will rise or fall according to changes in the Federal Reserve Rate. While most home equity lines of credit do not generally have fixed interest rates, JP Morgan Chase also offers an option that allows you to lock in a fixed interest rate on all or a portion of your line of credit balance.

This financing option lets you leverage your membership fee over a 10, 20 or 30 year payment period. For example:

Membership Fee - $25,000 - $40,000 - $50,000 - $70,000
10 year (APR 1) - $312.38 (8.68%) - $499.80 (8.68%) - $624.75 (8.68%) - 	$855.97 (8.18%)

20 year (APR 1) - $223.17 (8.89%) - $357.07 (8.89%) - $446.33 (8.89%) - 	$602.61 (8.39%)

30 year (APR 1) - $199.54 (8.91%) - $319.26 (8.91%) - $399.08 (8.91%) - 	$533.78 (8.41%)

1 Annual Percentage Rate (APR) shown is for example purposes only. Actual APR will fluctuate based on changes in the Federal Reserve Rate.


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## Bourne (May 8, 2008)

This has been available for a while...


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## WhiteSand (May 9, 2008)

Home Equitey lines of credit and home equity loans are widely available at almost all banks.  If you want to finance a membership this way, it would likely pay to shop around for the best rate possible.  If you qualify with JP Morgan on the basis of home equity, you will qualify with many other lenders and some of them may have better rates.


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## tombo (Nov 2, 2008)

Steamboat Bill said:


> I generally do NOT advise financing a DC purchase or a timeshare purchase, but there may be personal, business, or tax reasons to finance a purchase rather than paying cash. HCC has a new financing option.
> 
> -----------------
> Thinking about financial leverage for your one-time membership fee? High Country Club has removed the hassle through our established relationship with JP Morgan Chase, one of the leading global financial services firms in the world. Now you can finance your one-time membership fee for as little as $199.54 a month.
> ...



I GENERALLY do not advise financing BUT here is how to do it. It sure sounds like proposing financing when the word BUT enters the post and the whole program is laid out with no statement saying don't do this under any circumstances.

 I hope there weren't any takers on this wonderful financing option.


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## Steamboat Bill (Nov 2, 2008)

tombo said:


> I GENERALLY do not advise financing BUT here is how to do it. It sure sounds like proposing financing when the word BUT enters the post and the whole program is laid out with no statement saying don't do this under any circumstances.
> 
> I hope there weren't any takers on this wonderful financing option.



The information below the dashed line was cut from a HCC press release and I agree that financing any timeshare or DC is a bad idea and I was not endorsing this plan.

I was surprised that HCC offered this and shared the info with everyone just like I shared that DVC and Westgate and Marriott offered financing for 10-14% interest rates (also a bad idea).


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## caribbeansun (Nov 3, 2008)

The financing debate was had over on DC4MS - blanket statements such as "don't finance under any circumstances" frankly are inappropriate because there is ALWAYS a situation where it does make sense.

For example - I purchase a DC membership in order to provide an incentive to employees of my company.  Employees with >20 years seniority receive a free week at the location of their choice.  Therefore, the interest on the loan is tax deductible making it cheap capital and makes perfect sense.  In fact, I would likely argue that it makes even more sense for a DC than a TS in this scenario.

What about an equity model DC - I might want to make the argument that it's an investment and therefore deduct a portion of the interest - at least the part that isn't directly attributable to the cost of a vacation.  If you can make that argument at all which is a whole different discussion.

Financing for personal use only is another issue altogether - I, personally, would not advocate that in the vast majority of situations.

In fairness to Bill you really should have quoted more than the "BUT" part of his opening line.  He said "but there may be personal, business, or tax reasons to finance a purchase rather than paying cash".  Personally, that's a pretty fair AND accurate qualifier IMO as I've demonstrated above.

Bill and I have had many spirited discussions and disagreed on most of them, it's pretty ironic I now find myself defending him but you can't just slam everything someone says because you don't like them or you have a bone to pick - what's the point?

I get it - you have a hate on for Bill, we all get that, it's very obvious.


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## tombo (Nov 4, 2008)

*complaining about moderation is against TUG posting rules*

That doesn't change the fact that DC's were back then, and are still now, a very bad idea IMO.


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## tombo (Nov 5, 2008)

*complaining about moderation removed*

As I said, I still have ill feelings, but I guess I need to move on. However, that doesn't mean that people should stop posting warnings about potential problems associated with all DC's. We still need to remind people that several DC's have failed, and that there will inevitably be more DC failures in the future.


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## pwrshift (Nov 5, 2008)

When it comes down to it, each buyer of a TS or DC has to make his own decision. The opinionated 'balance' I've always found on TUG is very helpful as you get all kinds of valuable opinions. The continued debates on Marriott Reward points is a good example. I've felt that almost any post can run on TUG as long as it doesn't venture into politics, religion, etc. that others could find offensive. 

Unfortunately I found out very early on the destinationclubforums.com that if your opinion didn't go along with the flow of those very committed DC members they pounced all over you using 'humor' to mask the attack. I remember expressing my concern about handing over thousands of dollars to private DC companies to buy homes in which you personally didn't have equity. I felt it was a one way street to ruin, but it seemed only positive comments were accepted or your post was deleted or attacked. That wouldn't happen on TUG.

With the failure of HCC, I suspect members of all DC's are taking a second look at the security of their memberships. For sure, it's a tough time for HCC members as nobody likes to lose money regardless of wealth situation.  Emotions are running high. The dream could be over, and I doubt HCC members are lining up to buy into another DC...at least not right now.


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## tombo (Nov 5, 2008)

pwrshift said:


> Unfortunately I found out very early on the destinationclubforums.com that if your opinion didn't go along with the flow of those very committed DC members they pounced all over you using 'humor' to mask the attack. I remember expressing my concern about handing over thousands of dollars to private DC companies to buy homes in which you personally didn't have equity. I felt it was a one way street to ruin, but it seemed only positive comments were accepted or your post was deleted or attacked. That wouldn't happen on TUG.



That wouldn't happen on TUG? Do you want to bet?


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## Dave M (Nov 5, 2008)

It may have happened in the past, but I'll wager that if it happens again, the moderator involved would get some harsh treatment from Brian Rogers. The only allowable reason for which a moderator is permitted to edit or delete a post is if that post violates one of the "Posting Rules" outlined in the list accessible from the above blue bar. 

If someone believes they have had a post unfairly deleted, they should provide the specifics in an e-mail to Brian ("TUGBrian"). Brian recognizes that we moderators are not perfect, so he is more than willing to listen to such a complaint. Also, partially for that reason, moderators are instructed that when they delete an entire post, they should normally do it a manner that the post can still be seen by Brian and by other moderators/administrators.


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## caribbeansun (Nov 5, 2008)

Since so much content has been removed from this thread - would it not be better to delete it entirely as what's left seems rather fragmented.


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## tombo (Nov 5, 2008)

Dave M said:


> It may have happened in the past, but I'll wager that if it happens again, the moderator involved would get some harsh treatment from Brian Rogers. The only allowable reason for which a moderator is permitted to edit or delete a post is if that post violates one of the "Posting Rules" outlined in the list accessible from the above blue bar.
> 
> If someone believes they have had a post unfairly deleted, they should provide the specifics in an e-mail to Brian ("TUGBrian"). Brian recognizes that we moderators are not perfect, so he is more than willing to listen to such a complaint. Also, partially for that reason, moderators are instructed that when they delete an entire post, they should normally do it a manner that the post can still be seen by Brian and by other moderators/administrators.



It did happen in the past, but I am not allowed to discuss it or even state that it happened in a post here on TUG. If I do my current post is deleted.

The original post number 8 was posted by Carribeansun and it is now gone with no reference to it ever having existed. In the original post number 8 Carribeansun responded to my explanations with comments about understanding why I felt like I did in their now missing post. No one can read any of that enlightenment anymore or read my explanations which led to the understanding.


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## Dave M (Nov 5, 2008)

You are correct. Such a post would be deleted because commenting on or complaining about moderating is a violation of those Posting Rules. If you have a complaint, you should follow the instructions in my earlier post rather than discuss it here. As I stated, no post will be deleted unless it violates the Posting Rules. And no post has been deleted in this thread other than one or more that violate those rules.

Since the only current purpose of this thread seems to be related to moderating, I'm closing it. If someone wants to discuss HCC financing further, please start a new thread.


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## TUGBrian (Nov 6, 2008)

If the posting guidelines (that each and every member of TUG had to read and agree to upon registering a name here) are somehow unclear or confusing to anyone, feel free to PM or email me at any time and I will happily discuss them with you to eliminate any confusion.

Admins and moderators dont have any capability to enforce the rules short of editing comments that violate said guidelines, or suspending your posting priviledges.  

I do not know how to make this concept any easier to understand.

the comments in your previous posts that were edited were of you "complaining" about an encounter you had with an moderator, while I apologize for the situation...right or wrong there is little to be gained in this or any thread by dragging it up again.


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