How do I get out of timeshare past state law rescinding date?

[Rocky road]

I have the same problem after getting married in Vegas...by the time we got back and realized what a big mistake it was
we had 5 days (Navada) vs Washington 7 days where we live..
Signed on the 15th...wrote Rescind letter on the 20th, but for the weekend I could'nt postmark till Mon. the 22nd...next day air!
Well we called and the gal said as long as postmarked the 22nd..Ok thought we were good!!
Well after 4 more days..called again and they said to Late! done deal...WTF...pissed but?? We disputed the down payment on their barclay visa...At least they did give us a address to sent a letter if we choose..( A glimmer of Light??)...
anyway writting the letter soon...what should I ask for??..I'm willing to pay any fee they impose if they let us out!!
Any ideas from you guys??

 

[Passepartout]

I have the same problem after getting married in Vegas...by the time we got back and realized what a big mistake it was
we had 5 days (Navada) vs Washington 7 days where we live..
Signed on the 15th...wrote Rescind letter on the 20th, but for the weekend I could'nt postmark till Mon. the 22nd...next day air!
Well we called and the gal said as long as postmarked the 22nd..Ok thought we were good!!
Well after 4 more days..called again and they said to Late! done deal...WTF...pissed but?? We disputed the down payment on their barclay visa...At least they did give us a address to sent a letter if we choose..( A glimmer of Light??)...
anyway writting the letter soon...what should I ask for??..I'm willing to pay any fee they impose if they let us out!!
Any ideas from you guys??

Y'know, missing the rescission date by a day because of the 5th day falling on a Sunday- OK. Understandable. Missing it by 2 days because Nevada is 5 days and your home is 7 days. Wel-l-l-l- maybe a little skitchy, but send the letter anyway with an explanation, and MAYBE a friendly clerk will put it in the 'process' pile. But Rocky, you're more than 10 days past the legally allowable rescission period in the state where you bought- even though you signed or initialed that you understood the rescission period. And you STILL haven't written the letter-let alone mailed it!

The good news is that Worldmark is a good system, and you'll enjoy your vacations at their resorts. And living in Washington State puts many of them within reasonable driving distance. I'd suggest you join the group www.WMowners.com They have lots of resort specific info, and an active trading system to acquire more or sell some of your points to make your ownership more flexible than most.

About half of TUGgers bought their first TS from the developer before they were able to either rescind or before they knew about the secondary market. Yep, you overpaid, and it's unlikely they will terminate your contract- You can ask- and convince them that these payments will really put a cramp in your life with your old, sick parents you have to take care of, and this new marriage to the woman who is the mother of your triplets, who can't work due to the tragic rare medical conditions of her other set of twins. It might work.

Good Luck.

Jim

 

[Rocky road]

Thanks Jim!
Funny thing...we are members for the last 8 yrs...We have enjoyed their local resorts too..
How we were suckered into added points (at high cost!) I still feel stupid.
We'll see where this 2nd letter goes...Thanks again..

 

[Passepartout]

Thanks Jim!
Funny thing...we are members for the last 8 yrs...We have enjoyed their local resorts too..
How we were suckered into added points (at high cost!) I still feel stupid.
We'll see where this 2nd letter goes...Thanks again..

As I said. Good Luck. If it isn't successful, just don't sign up with any of those upfront fee 'timeshare exit' type outfits. They are scams that don't do anything you are not capable of. There are no 'magic words' or threats that will make the contract just go way. Don't 'feel stupid'. You were just married- and that makes the best of us do stuff we wouldn't ordinarily. The problem was that you didn't read what you signed.

We wish you well, and really, many people here (me included) wish we'd bought WorldMark instead of what we did buy. So don't cry too hard.

Jim

 

[DrQ]

Ya'know, we bought our first from a developer from Orlando and we had visions of Disneyworld bliss. After that we learned to purchase within a days drive and we have had great vacations.

We purchased on secondary market and upgraded within the system to get the type of unit we desired. The upshot is that we did not really vacation until we purchased the timeshares. We enjoy where we have purchased and we have used them, with the exception of Orlando.

Yes, I could have done it cheaper, but if I fret over my mistakes I'm just miserable. If the recision period has passed, I would suggest to learn how to use what you purchased to its maximum. Don't compound a mistake.

Our favorite timeshare is one I picked up on eBay for $99 and $1 (minus closing costs, 2 weeks). Most would not consider staying there, it is humble, but we are simple people and it is a great location.

Our resort was purchased by Orange Lake and after holding out we decided to convert to HICV. We plan to use our purchase rather than fret over a better deal we could have struck.

 

[goslowlowe]

You don't have any options. If it's paid in full, you can sell it or give it away, but it isn't worth much. Might as well stick around TUG and learn to use what you bought. Those contracts are well conctructed. There are no magic words anyone can write them to make it void. Do Not sign up with any of those upfront fee timeshare exit outfits. They are all scams.

Sorry we didn't have this conversation last week, but welcome to TUG. About half of us found TUG the same way. You're in good company.

Jim

That’s right . One of the first lies from Bluegreen I discovered it wasn’t a property and I couldn’t get a low rate mortgage. Quickly ditched the bass pro MasterCard at 23+% interest and found Quorum for 10% and paid off my 19Kquick. Now I’m here learning how to cut my losses and give it away, possibly for closing costs .

 

[LannyPC]

Now I’m here learning how to cut my losses and give it away, possibly for closing costs .

You can start with the Bargain Deals section here on TUG:

https://tugbbs.com/forums/index.php?threads/how-can-i-give-away-my-timeshare-on-tug.132509/

 

[RX8]

That’s right . One of the first lies from Bluegreen I discovered it wasn’t a property and I couldn’t get a low rate mortgage. Quickly ditched the bass pro MasterCard at 23+% interest and found Quorum for 10% and paid off my 19Kquick. Now I’m here learning how to cut my losses and give it away, possibly for closing costs .

Have you used the timeshare at all? You already have a sunk cost, why not give it a chance to see if it is something you and your family would like?

 

[theo]

Refinancing is not an option since we did that this year.

Since we took the Master Card option from bluegreens isn't it considered paid for?

So what happens if we cancel Master Card to stop payments with the deed?

The means or method of financing the purchase is irrelevant. The fact remains that there is a voluntarily signed and legally binding contract. If not rescinded within the time period provided by applicable state, a contract is a contract and there is likely no reference at all within it to payment means or methods.

 

[Dale Young]

Read most of the comments on this post. Also got suckered in on Orange Lake timeshare. Thought it was a great idea and being young and dumb fell into it. Being young and dumb, they obviously hardly explained the contract as they went over “most” of it. Again thinking it was a good idea still didn’t really look into it about a month after buying it. Basically thought I could afford it essentially but turns out I can’t after family financial issues rose and unfortunately did fall into a getout of timeshare company which filed bankruptcy. Lol. So is basically the only way to get outta this horrible mistake is to stop paying on it and let it go into foreclosure? I’ve tried messaging IHGs “getout” department they have and have heard nothing back. Because I did state I couldn’t afford it. I know it’s legally binding but goddamn I just want out of it lol

 

[LannyPC]

So is basically the only way to get outta this horrible mistake is to stop paying on it and let it go into foreclosure? I’ve tried messaging IHGs “getout” department they have and have heard nothing back. Because I did state I couldn’t afford it. I know it’s legally binding but goddamn I just want out of it lol

From what you have said, it looks like your best financial option is to stop payments. You will probably face a lot of collection calls and letters and possibly a hit to your credit score.

 

[Dale Young]

From what you have said, it looks like your best financial option is to stop payments. You will probably face a lot of collection calls and letters and possibly a hit to your credit score.

Forsure thanks. Thought that was the option to have to do but didn’t want to believe it. Had good credit till this nonsense. Thanks again

 

[goslowlowe]

Have you used the timeshare at all? You already have a sunk cost, why not give it a chance to see if it is something you and your family would like?

We’ve enjoyed Bluegreen as a first class resort everywhere we’ve gone ,although all the sales pitch was not true. but we don’t travel now due to our horse requirements and farm c0ncerns. Been paying for 3 years and not used it.

 

[Passepartout]

Read most of the comments on this post. Also got suckered in on Orange Lake timeshare. Thought it was a great idea and being young and dumb fell into it. Being young and dumb, they obviously hardly explained the contract as they went over “most” of it. Again thinking it was a good idea still didn’t really look into it about a month after buying it. Basically thought I could afford it essentially but turns out I can’t after family financial issues rose and unfortunately did fall into a getout of timeshare company which filed bankruptcy. Lol. So is basically the only way to get outta this horrible mistake is to stop paying on it and let it go into foreclosure? I’ve tried messaging IHGs “getout” department they have and have heard nothing back. Because I did state I couldn’t afford it. I know it’s legally binding but goddamn I just want out of it lol

Y'know, we polled TUGgers recently, and found that half had bought their first timeshare from the developer. Another question asked if they had gone to the presentation to get some discounted tickets or something, and had ZERO interest in timeshares. We are here because we are timeshare USERS. When you get lemons, make lemonade. Give TS a try. It sure beats messing up your credit over some perception that it's not for you. Stuck around. Learn. You might just got in.

Jim

 

[e.bram]

If you buy a TS with a deed, it has to be sold by licensed real estate broker. The sales person(ie. broker) is obligated to insure the value of the the real estate purchased. Would not selling a TS for $20,000.00 available for $1.00 be fraud and provide a defense if sued?