# Wyndham Timeshare - What to do with it? Advice needed!



## wilson14 (Oct 29, 2015)

My grandmother owns two Wyndham contracts; one is  presidential reserve with a home resort of Bonnet Creek for one million points. The other is a Club Wyndham Access contract with 597,000. The timeshare is not paid for.

She has discussed doing away with the timeshare several times because of the cost. I have always handled the reservations and account on her behalf, so I don't know what to do here. Does she have the option of doing away with one of the contracts? Would she be better off to try to sell it by herself? Could she trade the Access contract back into Wyndham? Or, would it be better to stop making payments, obviously affecting her credit score?

We use the timeshare a lot, especially the Reserve portion. We have rooms booked for next year, and I'm not sure how existing reservations would work if we sold it by ourselves.

Any advice or guidance would be appreciated. Thank you!


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## Ty1on (Oct 29, 2015)

wilson14 said:


> My grandmother owns two Wyndham contracts; one is  presidential reserve with a home resort of Bonnet Creek for one million points. The other is a Club Wyndham Access contract with 597,000. The timeshare is not paid for.
> 
> She has discussed doing away with the timeshare several times because of the cost. I have always handled the reservations and account on her behalf, so I don't know what to do here. Does she have the option of doing away with one of the contracts? Would she be better off to try to sell it by herself? Could she trade the Access contract back into Wyndham? Or, would it be better to stop making payments, obviously affecting her credit score?
> 
> ...



How much does she owe?


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## tschwa2 (Oct 29, 2015)

Are all the contracts paid off and she is just paying MF's?   If so it is easy to give away, give back or sell for a a few hundred dollars or up to one or two thousand depending on the size of the contract/deed.  If one or more are not paid off, she will have to deal with trying to get Wyndham to take back and see what can be done.  If she stops paying it will freeze all her points and may affect her credit.


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## wilson14 (Oct 29, 2015)

Ty1on said:


> How much does she owe?



I'm honestly not sure how much she owes. Is there a way I can found out through the Club Wyndham website?

I know she uses the Wyndham Rewards credit card and makes payments on that along with another amount coming out of her checking account.


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## wilson14 (Oct 29, 2015)

I called financial services and used the automated system. It said the payoff balance for the reserve contract is $133,571. That cannot be correct, can it?!


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## Ty1on (Oct 29, 2015)

wilson14 said:


> I called financial services and used the automated system. It said the payoff balance for the reserve contract is $133,571. That cannot be correct, can it?!



Pres Reserve, yes it can.

Unfortunately, I don't think you'll find anyone who will take this off her plate at that cost.  I don't think Wyndham will relieve the loan without going through foreclosure.


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## wilson14 (Oct 29, 2015)

Ty1on said:


> Pres Reserve, yes it can.
> 
> Unfortunately, I don't think you'll find anyone who will take this off her plate at that cost.  I don't think Wyndham will relieve the loan without going through foreclosure.



How does the foreclosure process work? I had no idea it would cost that much.


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## Ty1on (Oct 29, 2015)

wilson14 said:


> How does the foreclosure process work? I had no idea it would cost that much.



They call to remind you you are late on your payment.  Then again, then again.  Then collections start calling you.  At some point, they figure out you're done, and initiate foreclosure.

Is she comfortable with *not* answering calls?


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## vacationhopeful (Oct 29, 2015)

Several Questions: 

Is the CWA(access account) paid off?

How old is your grandmother?

How long ago did she buy the Presidential Reserve (or do the "upgrade"?)

If the CWA contract has no loan ... that should be SOLD and transfer before you stop payment on the Pres Reserve one. If one contract, the buyer would pay $299 transfer fee and about $200 for the "deeding" process as that does NOT have a deed.

Here comes the "sticky" part ... if it is a direct family member, the contract would be VIP ... about 103,000 points short of VIP GOLD level. But Wyndham might get "funny" wit that contract if you stop paying (the month after transfer) on the BIG ONE.


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## wilson14 (Oct 29, 2015)

Ty1on said:


> They call to remind you you are late on your payment.  Then again, then again.  Then collections start calling you.  At some point, they figure out your done, and initiate foreclosure.
> 
> Is she comfortable with *not* answering calls?



Can we tell them they are foreclosing so we can avoid all that mess? I wish there was an option for Wyndham just to take it back or at least downgrade in point value.


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## Beaglemom3 (Oct 29, 2015)

If you feel that your Grandmother may have been taken advantage of, please contact the Florida Attorney General's office to discuss or submit the info to them after discussing this with her.

You may not have recourse at this point, but you have the right to inquire if you feel that there were any deceptive practices.

Here is the link: http://myfloridalegal.com/pages.nsf/main/9161973ee14fdb1a85256cc900600947!opendocument


Read through for helpful information, BBB complaints, but please know that the BBB cannot help much, not like the Florida AG can.
http://www.bbb.org/central-florida/...n-ownership-in-orlando-fl-20000283/complaints


Addendum: Article:  http://www.thestate.com/news/business/article13846319.html

TUG link: http://www.tugbbs.com/forums/showthread.php?t=186592

http://tugbbs.com/forums/showthread.php?t=223232&highlight=bondi (Different scenario, but helpful links).


Google "Florida Attorney General and Wyndham Timeshare"

-


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## wilson14 (Oct 29, 2015)

vacationhopeful said:


> Several Questions:
> 
> Is the CWA(access account) paid off?
> 
> ...



I just checked and the Access contract is not paid off. The payoff amount for it is $48,000. She is 66 years old, and the Reserve upgrade was done back in the summer. I had no idea this cost this much; if I had, I wouldn't have let her go through with the purchase.


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## vacationhopeful (Oct 29, 2015)

wilson14 said:


> Can we tell them they are foreclosing so we can avoid all that mess? I wish there was an option for Wyndham just to take it back or at least downgrade in point value.



Wyndham has its "process" and between the lawyers, the courts, Fair Credit Act and the real estate laws for foreclosing on "property" .... telling them, writing them, crying to them ... has NO EFFECT.

And WHY would Wyndham want to THROW a $134,000+ loan away? Grandma agree to buy it, signed papers, paid payments ... you been booking vacations, enjoying them, for HOW LONG ... 3 or 4+ years? They PAID a commission or MULTIPLE commissions over the years to their employees & sales staff; you had the benefits of using it.

You never attended a sales presentation ... aka "Owners Update" and had prices thrown out at you? Dang, grandma's loan payment has to be OVER $2400 a MONTH and MFs over $900 for Reserve and another $300 for CWA.


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## vacationhopeful (Oct 29, 2015)

She is paying just in loans & interest (Wyndham gets about 18% i) $3000 monthly in P&I (or more). Plus the MFs of at least $1200 monthly.

Is grandma ... sharp or aged (acts WAY older) beyond her 66 years? Has she always managed her money or did her partner die recently (before her buying spree)? Does she suffer from any mental illness or depression? Did she inherit money or recently retired? Does she have other bills?

Yes, Wyndham is "that" type of company ... they will sell you as much as they possible can AND then package the loans over to the "sharks".


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## vacationhopeful (Oct 29, 2015)

wilson14 said:


> I just checked and the Access contract is not paid off. The payoff amount for it is $48,000. She is 66 years old, and the Reserve upgrade was done back in the summer. I had no idea this cost this much; if I had, I wouldn't have let her go through with the purchase.



You registered here almost 2 years ago .... have had access to the MF payment info on the website ... as you have been making reservations. You must have attended several Owner's Updates where they tried to SELL you points and printed off all types of "TODAY ONLY" specials.

First time I stayed at a Wyndham resort, my sister's FIL dragged me to an Owner's Update ... and I learned WHAT little crap they were trying to UPGRADE him on was $14,000 ... WHAT!!! I spent 3+ hours in the back row of my sister's minivan ... thinking over and over again ... "there has to be a cheaper way" to do Wyndham vacation Club and  their points ... and his offer was only for $14,000. THEN it hit me! And I spent another 3 hours waiting to arrive at her house and get on the internet to that site for USED STUFF for sale .. yes, eBay. DANG, like a $1 for the same number of points. 

And my regular 1,000,000 point contract ... I got that for $1050 TOTAL (all in).


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## silentg (Oct 29, 2015)

Yikes that's more than my house cost!


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## weems637 (Oct 30, 2015)

Gets you wondering.....
How long has grandma been an owner?  How long did it take for the sales weasels to get grandma to 1.5 million points, wham, bam, or over several years of update meetings???  Good golly Miss Molly!


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## 55plus (Oct 30, 2015)

Grandma was 'mark' to the sales weasels. They looked at her history and knew they could buy that new BMW they wanted after they met with her.

The thing about timeshares is after they get the down payment and contracts signed, and make it past the rescind period the sales weasels are home free. Then the ball is passed to financial to do the dirty work when needed. Once they cannot score anymore money from the owner they pass it onto collections and legal.


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## vacationhopeful (Oct 30, 2015)

morrisjim said:


> *Grandma was 'mark' to the sales weasels*. ....
> 
> The thing about timeshares is after they get the down payment and contracts signed, and make it past the rescind period the sales weasels are home free. Then the ball is passed to financial to do the dirty work when needed. Once they cannot score anymore money from the owner they pass it onto collections and legal.



And after the first contract, her down payment and "appreciation" on her ownership (really, it was the simple fact that the owner(s) where paying on the loans), got her MORE and MORE loans and points.

wilson14 ... *you and grandma truly need real LEGAL advice *... not a timeshare forum with internet answers and guesses. 

Grandma may need credit (or assets Wyndham will suck dry) in her future if she tries to get into Long Term/Assisted Living places. She does NOT need a lien on her home which goes to pay the timeshare weasels when she needs the equity for help in paying the years she can't care for herself. At her age.... plus 5 years ... the selection process for assisted care residents will be selective. YOU might very well end up with your Grandma in your spare bedroom OR contributing MONEY to her "later" years for non-necessary items like a haircut or underwear or dentures that fit.


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## WinniWoman (Oct 30, 2015)

vacationhopeful said:


> And after the first contract, her down payment and "appreciation" on her ownership (really, it was the simple fact that the owner(s) where paying on the loans), got her MORE and MORE loans and points.
> 
> wilson14 ... *you and grandma truly need real LEGAL advice *... not a timeshare forum with internet answers and guesses.
> 
> Grandma may need credit (or assets Wyndham will suck dry) in her future if she tries to get into Long Term/Assisted Living places. She does NOT need a lien on her home which goes to pay the timeshare weasels when she needs the equity for help in paying the years she can't care for herself. At her age.... plus 5 years ... the selection process for assisted care residents will be selective. YOU might very well end up with your Grandma in your spare bedroom OR contributing MONEY to her "later" years for non-necessary items like a haircut or underwear or dentures that fit.




Amen to this!


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## Sandi Bo (Oct 30, 2015)

*On a similar note...*

My father (in his 80's), who somehow managed to accumulate 1.5M after I thought he had agreed to stop at 1M, is planning on going to an owner update next week. 

I will be watching closely, just in case a follow up rescind is necessary. 



On a more serious note, I really had thought he had stopped at 1M and was shocked to find out he was at 1.5M (and well beyond any hope of rescission). I try to keep closer tabs these days, which includes me managing his account. It won't happen again.


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## Traveler5271 (Nov 3, 2015)

*Lawyer help*

[Deleted:  All of your posts are recommendations for questionable upfront fee companies - please stop.]


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## Ty1on (Nov 3, 2015)

Redacted, handled by Denise


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