Getting out of Bluegreen purchase

[TheTimeTraveler]

Without a doubt, Riverajuan made an error in purchasing a Timeshare property.

Short of allowed rescission or declaring Bankruptcy he is now stuck with it.

Under these circumstances you need to make the absolute best use of that, but what is it? In your situation I would advise reserving a very desirable week and renting it out, and try using that income to at least cover your annual maintenance fees....

Work on getting the loan paid off and then unload the Timeshare via selling it or gifting it.

Hate to be the bearer of bad news, but it is what it is.





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[Passepartout]

What I was told was that someone will contact me with a time and day at a resort in St. Petersburg,Fl where I was to go for an orientation on how to use the timeshare and also set my account where I can sign in an manage the account. I have yet to hear from them.

I have never heard of such a meeting to be set up for a new owner. I have a feeling that you were being fed something you wanted to hear in order to get your signature on a contract. If you continue to wait, you'll be waiting for a very looooong time.
Sorry for the reality check.
Jim

 

[GrayFal]

I understand what has been advised on this forum. The issue is I have yet receive anything from blue green, not only that Georgia rescind period was only 7 days and I found out about all the information posted here almost 10 days after.

My question to this forum why if I don’t think it will be beneficial do I have no choice but to keep the time share. If I wanted to sale my house I could do it even know I have an active mortgage I am presently paying. Why can’t I do the same with a time share?[/OTE]

You can sell your timeshare. You have to pay off the loan first and then you can sell it.
But you will only get pennies on the dollar that you paid.
On the resale market Bluegreen sells for $1 to $1,000 for a 10,000 point contract. If you have a desirable underlying deed, it can be more. A La Cabana week 6 deed worth 9,000 points recently sold on eBay for $3,900

I have never heard of such a meeting to be set up for a new owner. I have a feeling that you were being fed something you wanted to hear in order to get your signature on a contract. If you continue to wait, you'll be waiting for a very looooong time.
Sorry for the reality check.
Jim

Jim, Bluegreen has a follow up with new owners in 6-8 weeks. They make it sound mandatory but it is NOT. OP does not have to go. The primary purpose of this follow up is not to show you how to use your ownership but to try and sell you more points. Because the amount they sold you couldn’t possibly be enough!

To learn how to use your ownership, join the Facebook group “Bluegreen Timeshare Secrets”. The group creator Sara Strock has written an ebook that explains everything about the BG program. Her website is www.bluegreentimesharesecrets.com On the Bluegreen website are webinars (live and archived) that explain all parts of the program.

You haven’t mentioned how many points you have purchase. Possibly sharing in another post and asking for help of how to optimize your ownership would be helpful for you. Do you live near any BG resorts? Can you utilize bonus time? Let us help you make some lemonade.

 

[Passepartout]

Jim, Bluegreen has a follow up with new owners in 6-8 weeks. They make it sound mandatory but it is NOT. OP does not have to go. The primary purpose of this follow up is not to show you how to use your ownership but to try and sell you more points. Because the amount they sold you couldn’t possibly be enough!

To learn how to use your ownership, join the Facebook group “Bluegreen Timeshare Secrets”. The group creator Sara Strock has written an ebook that explains everything about the BG program. Her website is www.bluegreentimesharesecrets.com On the Bluegreen website are webinars (live and archived) that explain all parts of the program.

You haven’t mentioned how many points you have purchase. Possibly sharing in another post and asking for help of how to optimize your ownership would be helpful for you. Do you live near any BG resorts? Can you utilize bonus time? Let us help you make some lemonade.

Thanks for this info Pat. This should be both helpful AND a caution about attending another sales meeting designed to get Juan to buy more points.

I hope that he downloads and studies the 'Secrets' book and becomes a member of the BG Facebook group. He needs their help.

 

[GrayFal]

What I was told was that someone will contact me with a time and day at a resort in St. Petersburg,Fl where I was to go for an orientation on how to use the timeshare and also set my account where I can sign in an manage the account. I have yet to hear from them.

As I said above, you don’t have to go. They just want to sell you more points.

The only time you HAVE to go is if you purchase a cheap stay for $50-$100 and agree to attend a presentation in exchange for the low cost accommodations.

You can register online here to access your account and make reservations.
https://www.bluegreenowner.com/register

Edit
I checked with the experts....
If you have given a “deposit” to attend the follow up you can call and cancel it and get your deposit refunded. If you do decide to go, remember it is just a hard sell for more points.

 

[riverajuan]

I really appreciate all the advice and useful guidance. I will be joining the blue green site and also find out exactly how many points I was given and get back to you guys.

Very helpful site.

 

[csxjohn]

I disagree with others who say it will ruin your credit if you just walk away. I've seem people post that when they walked away some got no consequences at all and others have said they took a small credit hit. I have not heard one person say their credit was ruined.

I do know that once you miss two payments with Bg they will take it back. Some folks have had some problems paying and a few months late when they could pay they found out their membership had been cancelled.

Look into it further before you decide against just walking away.

 

[TUGBrian]

squeaky wheel gets the grease...keep trying to rescind via any communication method you can find (social media etc)...costs you very little, and perhaps you get lucky since you were outside the legal window by only a few days.

 

[GrayFal]

squeaky wheel gets the grease...keep trying to rescind via any communication method you can find (social media etc)...costs you very little, and perhaps you get lucky since you were outside the legal window by only a few days.

They purchased 5/23. So 4 weeks out.

 

[GrayFal]

I disagree with others who say it will ruin your credit if you just walk away. I've seem people post that when they walked away some got no consequences at all and others have said they took a small credit hit. I have not heard one person say their credit was ruined.

I do know that once you miss two payments with Bg they will take it back. Some folks have had some problems paying and a few months late when they could pay they found out their membership had been cancelled.

Look into it further before you decide against just walking away.

I believe that the posts i have seen refers to maintenance fees?

It is certainly a choice but not one I would make.
Only the OP can decide what is right for their personal circumstances and whether they want to risk a credit hit. Maybe they want to buy a car or a house in the next year and can’t afford to take a hit.
It’s a BIG if!

 

[riverajuan]

I already have a home and a car , but don’t want to hurt how hard I have worked to get to where I am today. As as my option to rescind I agree is been a month already and my chances are very slim if any. I will be contacting bg today since they called today and left me a message to call back.

I will mention that I had second thoughts about my decision and by the time I decided to cancel I found information in the contract specifying a 7 day limitation period and see what they will reply.

It doesn’t hurt to try.

I will return to this forum and let you know what happened.

 

[csxjohn]

Late in 2015 Finn Law Group reached a settlement with Bg on a class action suit. The complaint was that Bg was treating delinquencies as defaulted mortgages and the law firm argued that since it's points based and no properties are put in buyers names in any counties, they can not be treated as mortgage foreclosures.

Without admitting quilt, Bg agreed to change the actions for 11,000 buyers and the credit agencies agreed to make the requested changes.

You can read more here and by doing an online search. I followed this while it was going on and my take was that there is a big difference between defaulting on a mortgage and defaulting on a personal loan to join a vacation club.

This is why I'm saying to check further before you assume you'll take a big credit hit.

https://www.finnlawgroup.com/best-s...vs-bluegreen-corporation-foreclosure-removal/

 

[OldGuy]

Juan:

I am old and reading-challenged , but, did you say where you live?

I have some thoughts based on that.

But, if that does not matter, I would encourage you to be very, very, very persistent, and document that persistence, with the resort/seller, that you have made a BIG mistake, will not be able to meet your obligation, don't know what you were thinking, and would like to find an agreeable way to end this relationship (before you actually use it).

That would appear to be a very fair offer, to give something back, at whatever price you work out, for something you never used.

Again, I may have another suggestion based on where you live/citizenship.

 

[GrayFal]

Late in 2015 Finn Law Group reached a settlement with Bg on a class action suit. The complaint was that Bg was treating delinquencies as defaulted mortgages and the law firm argued that since it's points based and no properties are put in buyers names in any counties, they can not be treated as mortgage foreclosures.

Without admitting quilt, Bg agreed to change the actions for 11,000 buyers and the credit agencies agreed to make the requested changes.

You can read more here and by doing an online search. I followed this while it was going on and my take was that there is a big difference between defaulting on a mortgage and defaulting on a personal loan to join a vacation club.

This is why I'm saying to check further before you assume you'll take a big credit hit.

https://www.finnlawgroup.com/best-s...vs-bluegreen-corporation-foreclosure-removal/

Thx for the info. I appreciate you sharing it.

 

[OldGuy]

Funny how people knock the Finn Law Group, and how some major company-controlled resorts have sued them, when they actually get stuff done for unfortunate timeshare owners.

I guess it's like tweeting about people/things that you are really concerned about, because they are a real threat.

 

[riverajuan]

I live in Florida. I will be in touch with bg again today. I didn’t reached anyone yesterday.

 

[OldGuy]

I live in Florida. I will be in touch with bg again today. I didn’t reached anyone yesterday.

So, you are US citizen?

I ask because in the recent OLCC thread, it appears from their internal documents that they do not go after foreign defaulters.

If you are US, use that squeaky wheel plan.

Bluegreen is a well-known bad actor, and you may hit a soft spot.

 

[OldGuy]

Also, there are plenty of complaints about Bluegreen, plenty of rumblings about classaction lawsuits, including about lying about buybacks, so you might want to wander around the Internet and see if any of them amounted to anything.

Maybe tell them you are Johnny Morris.

 

[riverajuan]

They did mentioned that they will buy back the ts if I couldn’t afford it or if I use it as I thought I would. Can I hire a lawyer to cancel the ts if they don’t buy it back?

 

[riverajuan]

By the way some ask about the points they issued. They supplied 10, 000 points.

 

[bluehende]

They did mentioned that they will buy back the ts if I couldn’t afford it or if I use it as I thought I would. Can I hire a lawyer to cancel the ts if they don’t buy it back?

I bet if you check the contract that little tidbit will not be there. Without that you have no chance of having them honor that promise (lie).

 

[Passepartout]

They did mentioned that they will buy back the ts if I couldn’t afford it or if I use it as I thought I would. Can I hire a lawyer to cancel the ts if they don’t buy it back?

I'm pretty sure the salesweasels were lying when they said they'd buy it back. Quite simply, they won't. And our experience with every one of those 'get you out of your timeshare' upfront fee outfits is that they are a scam designed to get more of your money. See, after you pay them, and they list it somewhere for sale, they have no more incentive to do anything. if you complain that you are still getting bills for it, they tell you to send more money for more advertising. Some are worse. They have you sign a 'quit claim' deed and they title it to some LLC, and when that gets too hot and they are being sued for non payment, they bankrupt the LLC and re-open under a different name, leaving the rest of the owners to pay for the upkeep of the TS. A big reason why timeshare maintenance fees are so high. Anything they can do, you can too.

 

[TheTimeTraveler]

They did mentioned that they will buy back the ts if I couldn’t afford it or if I use it as I thought I would. Can I hire a lawyer to cancel the ts if they don’t buy it back?

If they buy it back it will only be for pennies on the dollar, and your loan is likely going to be needed to be paid off first.

Hiring a Lawyer may or may not do you any good, however it will cost you a whole bunch of money regardless of the outcome!




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[riverajuan]

It pretty much sounds like the only way is to walk out and take the hit in the credit report.

 

[Grammarhero]

As a lawyer myself, a lawyer won’t do much good getting out of the TS. The TS, iron-clad contracts are written by brilliant, well-paid, millionaire lawyers. A lawyer telling you they can help is simply taking your $300/hr without delivering much.


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