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Deed back with HGVC

Discussion in 'Hilton Grand Vacations Club / HGVC' started by cvgr12, Jun 20, 2018.

  1. cvgr12

    cvgr12 Guest

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    Location:
    Seattle
    Resorts Owned:
    Hilton Grand Vacations-Elara
    Hello, I am new here and found out about TUG while doing some research. Like a lot of people, I 100% regret buying my timeshare with HGVC two years ago. I was young and have since acquired a lot of debt and simply can no longer afford this timeshare. I have been trying to sell it for over a year and am now to the point where I am considering foreclosure (I am up to date on all payments thus far) or filing for bankruptcy in order to free myself of the contract and maintenance fees.

    I still owe a lot on my gold week at the Elara and I am well aware that my efforts may get me no where, but, I am desperate so I'm trying. My question is, has anyone successfully had Hilton take back a deed in any fashion? Is foreclosing on the timeshare even an option or will Hilton give me more than a run for my money? I am serious about getting this deed off my hands and thought this would be a good place to start.

    Any and all input or opinions are welcome, thank you!
     
  2. PigsDad

    PigsDad TUG Member

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    Resorts Owned:
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    As you have probably figured out by now, before you can sell it the loan against it must be paid off. HGVC has been known to buy back (pennies on the dollar) some ownerships, but there must be no loan. Your week does have some value -- maybe $2-3K I'm guessing, so if you can get rid of the loan you should be able to recover a bit of value from your week. If you absolutely cannot pay off the loan, I think the only option is to look at defaulting on the loan or bankruptcy. I wish I had better news...

    Kurt
     
  3. alwysonvac

    alwysonvac TUG Lifetime Member

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  4. RCE-Ohio

    RCE-Ohio Guest

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    Location:
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    Resorts Owned:
    HGVC Parc Soleil Orlando, Fl
    Hi, I am in much the same boat. We just can not afford the time share and all the fees associated with it. HGVC made it sound wonderful in sales presentation but in reality is just not working out. Mistake was not understanding what it was before going to sales pitch. I didn't even know a site like this existed. But it is what it is now. And what I need NOW is a way to free myself of this time share. Still owe on it and from what I've read in TUG it will be impossible to sell with an outstanding loan balance. So I would be extremely interested to know how this works out for OP as defaulting on loan and MF sounds like the only viable option to get loose from a TS with a loan balance. Correct?
     
  5. cvgr12

    cvgr12 Guest

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    Thank you for all of the input. alwysonvac I saw that post last week and it is what motivated me to seek advice on here. What I really need is a phone number or even the name of the department I need to get in contact with to discuss the deed back. I will continue to make phone calls and hope for the best!
     
  6. kevreh

    kevreh Guest

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    How much do you owe still, and for how many points?
     

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