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Sticky - DRI now accepting deedbacks

Discussion in 'Diamond Resorts International - DRI' started by TUGBrian, Mar 19, 2015.

?

Have you used this information to deed-back your DRI Timeshare?

  1. Yes, DRI took back my DRI TimeShare (or DRI said they will take back my TS)

    108 vote(s)
    93.1%
  2. No, DRI said they would not take back my TimeShare

    8 vote(s)
    6.9%
  1. TUGBrian

    TUGBrian Administrator

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    The financial dept apparently Voluntary Surrender Program:

    In order to qualify, the HOA (MFs) must be up-to-date and the owner must have a zero balance on the loan.

    To start this process, the owner must send an email to: lossmitigation@diamondresorts.com and or leadcollector@diamondresorts.com with the subject line stating: Inventory Takeback.

    In the email itself the owner must include:
    -Resort Name
    -Owner(s) Name(s)
    -Account Number
    -Inventory owned (ie. weeks, points, etc)
    -any other important information regarding the deed

    within 7-10 business days, the Diamond Resorts will send an action required correspondence, where the owner will have 15 days to return.

    Note: the owner is responsible for any fees associated with the paper work, such as notary, postage etc.

    Edited to add phone number: You can call 877-497-7521, option 1 English, then 3 is direct to Loss Mitigation.
     
    Last edited: Aug 29, 2016
    ho tek likes this.
  2. artringwald

    artringwald TUG Member

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    DRI: The Point at Poipu, 3 deeded weeks, 1 of which is in The Club.
    How did you find out about this? Is there an official announcement?
     
  3. TUGBrian

    TUGBrian Administrator

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    TUG secret squirrel network!
     
  4. Peterh1952

    Peterh1952 TUG Member

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    Check the email address

    I think the email address may be wrong on this. Try lossmitigation@diamondresorts.com. I just had an email returned from the address provided in the first message in this thread.
     
  5. TUGBrian

    TUGBrian Administrator

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    oh good call on that typo!

    the secret squirrel has been shot and replaced with a gopher.
     
    Last edited: Mar 19, 2015
    bradfordHI likes this.
  6. pedro47

    pedro47 TUG Review Crew: Expert TUG Member

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    Thank you Brain.
     
  7. Bill4728

    Bill4728 Moderator

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    WOW!!! That is really great news.

    I'm on it right now.


     
    Last edited: Mar 26, 2016
  8. tschwa2

    tschwa2 TUG Member

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    A few in SC, VA and FL, a single resort in NC, MD, PA, NY, UT, ME, WI, and TN plus Jamaica and the Bahamas
    It seems like DRI does this periodically. They also seem to have quotas so if you are interested I wouldn't wait. In the past I have seen where they wouldn't guarantee that if you waited to use this year's usage that the offer would still be available. They also did not reimburse you if you did not get usage.
     
  9. T_R_Oglodyte

    T_R_Oglodyte TUG Lifetime Member

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    I suspect that this type of program is going to increasingly be available in the future. In "owners updates" I have often asked why I should not be able to give to DRI my deed/points when I no longer wish to own them, so that they can turn around and sell them for $50k to $100k (which is their current "going price" on the sales floor for what I own)??? What kind of sustainable business model would say "No" to that?

    It just seems to me that there's too much logic for them to accept deedbacks, with whatever throttle is needed to ensure that they are not overwhelmed with inventory they can't turn in a reasonable time frame.
     
  10. tidefan

    tidefan TUG Member

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    Is this just for points, or would deeded properties (such as St Maarten) be included?
     
  11. Seaport104

    Seaport104 TUG Member

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    Is Monarch Grand Vacations (now part of DRI) included in the deed back?

    My uncle bought from the developer 10+ years and ago and has only used it this year - only because I just found out he had a timeshare and offered to help him use it by me finding the weeks he can use. He really just wants out though.
     
  12. TUGBrian

    TUGBrian Administrator

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    I am not sure on the last two items, but I believe a deedback situation is one where it isnt going to hurt you to try...and the cost involved is limited to a phone call and or an email.
     
  13. RuralEngineer

    RuralEngineer TUG Member

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    printing press

    Their business model is based on a 3-4% yearly return of contracts. Offering an official process instead of just relying on non-payment seems fairly prudent.
     
  14. TUGBrian

    TUGBrian Administrator

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    did get another recent confirmation from a member that they were able to successfully Deedback their DRI interval!
     
  15. Bill4728

    Bill4728 Moderator

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    I emailed them my info and got back an automated message with a "ticket number"
    They said I should hear back from them soon.
     
  16. TUGBrian

    TUGBrian Administrator

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    excellent!

    I would be interested to know what the "Fee" is for deeding back your unit.
     
  17. Bill4728

    Bill4728 Moderator

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    I'll be sure to post more details later
     
  18. TUGBrian

    TUGBrian Administrator

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    thank you sir!
     
  19. Jim H. Document

    Jim H. Document Guest

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    Just joined TUG BBS because of this info

    I literally stumbled across this forum last Saturday morning, searching for ways to get out of my membership with THE Club. I am SO glad I did!

    Just this past Friday I met with a rep with a new company that uses legal tactics to get people out of their timeshare contracts, and I left feeling worse than when I went in. Seems like they had zero clue when I repeatedly explained that my wife and I are DRI members who have a points/trust contract instead of an actual deed.

    Anyways, back to last Saturday - after finding this thread I emailed DRI's Loss Mitigation division and gave them the info you listed, followed shortly thereafter with an automated ticket saying one of their people would get back to me within 1-2 business days. If they don't then I will call them, and will continue to do so until I speak with someone and get this going.

    Thank you so much again, TUGBBS. I was at wit's end until I discovered you guys. And talk about timing - the very next day after having that disappointing meeting!
     
    Last edited: Mar 24, 2015
  20. kalima

    kalima TUG Member

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    Let us know!

    Be sure to let us know if it works out for you Jim! :D
     
  21. Anderchuck

    Anderchuck TUG Member

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    Finally Some Good News

    I have been following threads on TUG for quite some time hoping to find a way to "get rid of" my DRI contracts. Nice to see there may be a solution that benefits owners and HOA/Resorts. Interested to know what DRI contracts qualify or potentially don't. I am sending my emails in today. I'll update here when I get one.
     
  22. TUGBrian

    TUGBrian Administrator

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    am loving how this thread is turning out!!!!
     
  23. Peterh1952

    Peterh1952 TUG Member

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    This has certainly generated some interest. I am beginning to wonder, though, how DRI is managing the avalanche of requests they have probably received. I sent my e-mail at midnight last Thursday, and, like others, received immediate confirmation of receipt and a 'ticket number' The pledge in the auto-message was that a 'DRI team member' would be in touch within 2 business days. We are now closing in on 4 and no response yet. Has anyone received anything?
     
  24. Lydlady

    Lydlady TUG Member

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    I'm still waiting too. They might be overwhelmed with the amount of requests.
     
  25. TUGBrian

    TUGBrian Administrator

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    im not sure TUG has created an "avalanche" so to speak....a few dozen requests certainly should not overwhelm a company of that size.

    afaik this isnt something they have plastered on their website anywhere, but it is nice to get the word out to needy DRI owners who just want out!
     

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