oldLatinTeacher
TUG Member
- Joined
- Jul 24, 2021
- Messages
- 2
- Reaction score
- 0
- Points
- 51
- Resorts Owned
- Traders Inn Beach Club
I need some advice about a proposed plan for:
Transferring from “deeded owner” (set-week/ location time share) to “Interval International Club Interval Gold Points-Based Membership Program.”
In 1980 an investment company in the Daytona Beach area sold to us a $6228.55 “investment”, Unit 408, week 9, during DB's Motorcycle week. Now, after faithfully supporting this entity for over 40 years I urgently need to get out from under this obligation. Maintenance fees are almost $800/yr. I feel at the mercy of this organization to bill me annually for whatever they want for the rest of my life.
I have tried selling it, paying someone to take it, begging the location to accept a quit claim and now, I have been referred by the timeshare organization to the following plan:
$2799.00 to enroll in this new program with obligation to pay $500/yr dues
+ 1500.00 dues for the 3 year obligation, for which I will be credited 30,000 points/yr**
$4,299.99 to get totally out of this nightmare.
At the end of the 3 years, after I have paid $4,299.99 I am totally free from any other obligation for my old time share and I do not have to buy into the new points-based program.
Is $4,300 a reasonable way to get out from under the financial burden of my existing unit or is there some other option?
** Depending on demand, 30,000 points will get me a smaller unit in a similar building to that I currently have. But I don't really care about the points. I am elderly, disabled and unable to travel.
Transferring from “deeded owner” (set-week/ location time share) to “Interval International Club Interval Gold Points-Based Membership Program.”
In 1980 an investment company in the Daytona Beach area sold to us a $6228.55 “investment”, Unit 408, week 9, during DB's Motorcycle week. Now, after faithfully supporting this entity for over 40 years I urgently need to get out from under this obligation. Maintenance fees are almost $800/yr. I feel at the mercy of this organization to bill me annually for whatever they want for the rest of my life.
I have tried selling it, paying someone to take it, begging the location to accept a quit claim and now, I have been referred by the timeshare organization to the following plan:
$2799.00 to enroll in this new program with obligation to pay $500/yr dues
+ 1500.00 dues for the 3 year obligation, for which I will be credited 30,000 points/yr**
$4,299.99 to get totally out of this nightmare.
At the end of the 3 years, after I have paid $4,299.99 I am totally free from any other obligation for my old time share and I do not have to buy into the new points-based program.
Is $4,300 a reasonable way to get out from under the financial burden of my existing unit or is there some other option?
** Depending on demand, 30,000 points will get me a smaller unit in a similar building to that I currently have. But I don't really care about the points. I am elderly, disabled and unable to travel.