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anyone has stopped paying maintenance fees, what happened ?

haasle

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This is BS. You've owned and paid MF responsibly for 25 years and Diamond gladly took your money. I will bet that after 25 years, mergers and lack of IT back then, they wouldn't be able to differentiate who bought resale and who bought retail if you had not been honest and told them.

You have two choices:

1) Give the properties away, here on TUG or on TimeshareNation.com. Depending on the property. This will take some time and you will need to pay 2020 MF and closing fees.

2) Walk. In Florida you are in a "non-judicial, anti-deficiency state" which means that the most they can get is to take back your timeshare, a ding to your credit record and ignoring threatening phone calls from bill collectors. So it might be worth walking. If you want to avoid 2020 MF, then call them up again ASAP, tell them you are walking and you are aware that Florida is a "non-judicial, anti-deficiency state" so you know that the worst they can do is to take back the timeshare. To avoid the costs of foreclosing and enable them to earn money from the unit for renting it out this winter to offset the 2020 Maint Fees and resale the unit. So you will offer to give them the "deed in lieu of foreclosure" for free to avoid their cost and hassle.

Remind them that you have paid MF faithfully for 25 years and do not have an outstanding mortgage.

Remind them that they advertise a "Responsible Exit" program through ARDA for long time owners. You have been a long-time owner. If they balk or try to talk you out of it or threaten you, then talk to a lawyer and decide what to do.

Please report back what transpires. (Diamond scumbags...)
I talked to an agent after being on hold for nearly half an hour and explained our situation (length of ownership, MFs paid, over 70 years of age). He said he was sorry that we do not qualify (resale) but there was nothing he could do about it. I then told him I was aware of Florida being an a non-judicial anti-deficiency state and we will wait for them to foreclose. He didn't try to argue or disagree that we couldn't do that. I have to say the agent was straight and above board during the whole conversation. Due to his attitude I assume other owners have told him the same.
 

Fredflintstone

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I talked to an agent after being on hold for nearly half an hour and explained our situation (length of ownership, MFs paid, over 70 years of age). He said he was sorry that we do not qualify (resale) but there was nothing he could do about it. I then told him I was aware of Florida being an a non-judicial anti-deficiency state and we will wait for them to foreclose. He didn't try to argue or disagree that we couldn't do that. I have to say the agent was straight and above board during the whole conversation. Due to his attitude I assume other owners have told him the same.
Knowledge is power my friend.

I am sure those who research and know their rights do use that.

They are only interested in controlling those who don’t know.


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Fredflintstone

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What normally happens is you stop payment and they initially whine, threaten, etc. Then, once they know you won’t budge, they usually offer a deed in lieu. This is usually between 6 to 12 months after receiving no payment.

They know they are hooped...but hey, it’s doesn’t hurt to whine, threaten, etc. To see if they can shake you out before negotiating.


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CalGalTraveler

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I talked to an agent after being on hold for nearly half an hour and explained our situation (length of ownership, MFs paid, over 70 years of age). He said he was sorry that we do not qualify (resale) but there was nothing he could do about it. I then told him I was aware of Florida being an a non-judicial anti-deficiency state and we will wait for them to foreclose. He didn't try to argue or disagree that we couldn't do that. I have to say the agent was straight and above board during the whole conversation. Due to his attitude I assume other owners have told him the same.
Thanks for reporting back. +1 Knowledge is power. Perhaps Diamond has built in foreclosure as a cost of doing business. Did you offer them deed on lieu of foreclosure to avoid their cost and delays?

(Diamond scumbags. Owners RESPONSIBLY pay MF for 25+ years, no mortgage balance and Diamond treats you like this. Confirms I will never buy Diamond. I certainly hope the HGVC Hilton deal never comes to fruition because Diamond would be a negative stain on the Hilton and HGVC brand.)
 
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haasle

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What normally happens is you stop payment and they initially whine, threaten, etc. Then, once they know you won’t budge, they usually offer a deed in lieu. This is usually between 6 to 12 months after receiving no payment.

They know they are hooped...but hey, it’s doesn’t hurt to whine, threaten, etc. To see if they can shake you out before negotiating.


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Let them whine and threaten all they want! We were fairly happy until Diamond took over and its been downhill since.
 

CalGalTraveler

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Please keep us apprised as to what they do.

BTW Do not talk to them.There have been cases of bill collectors recording calls and saying you or a family member acknowledged you owe money or will pay and it restarts the clock on the statute of limitations. Talk to a lawyer even if it is for an hour on RocketLawyer for approach. It will be money well spent. We are not lawyers.

And search TUG on this topic.

Dont be surprised if they hurl lies at you e.g. they will put a lien on your primary home etc. Diamond was reported to propagate this lie. Worse than a timeshare salesperson.

Good luck!
 
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Fredflintstone

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Please keep us apprised as to what they do.

BTW Do not talk to them.There have been cases of bill collectors recording calls and saying you or a family member acknowledged you owe money or will pay and it restarts the clock. Talk to a lawyer even if it is for an hour on RocketLawyer for approach. It will be money well spent. We are not lawyers.

And search TUG on this topic.

Dont be surprised if they hurl lies at you. Eg they will put a lien on your primary home etc. Diamond was reported to propagate this lie. Worse than a timeshare salesperson.

Good luck!
Oh and shred their letters too. One trick, from experience, is you get a demand letter from a law firm. Remember, it’s a demand letter; NOT court papers. Court papers are clear and include an actual court date. Court papers are also recorded at the Court house. Again, Florida is a non judicial, anti deficiency state.


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haasle

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Oh and shred their letters too. One trick, from experience, is you get a demand letter from a law firm. Remember, it’s a demand letter; NOT court papers. Court papers are clear and include an actual court date. Court papers are also recorded at the Court house. Again, Florida is a non judicial, anti deficiency
Thanks for the heads-up.
 

3woodengulls

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I have a ts and it is paid off. it located in florida and all we pay is the MF. I have tried to get out of this thing and no takers. I am thinking of just letting this thing go... but I am worried about the credit hit. it sounds like there is no hit to the credit if it is paid off. I have tried to get them to take it back and they have said I have to be 65 years old to get out of it. I have never heard of this before. anyone else?
 

haasle

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I have a ts and it is paid off. it located in florida and all we pay is the MF. I have tried to get out of this thing and no takers. I am thinking of just letting this thing go... but I am worried about the credit hit. it sounds like there is no hit to the credit if it is paid off. I have tried to get them to take it back and they have said I have to be 65 years old to get out of it. I have never heard of this before. anyone else?
They seem to make up the rules as they go. I am well over 65 and they wouldn’t allow me to do a deed back yet I know someone who is 52 and owned at the same parent company and they accepted theirs. Good luck.
 

CalGalTraveler

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I have a ts and it is paid off. it located in florida and all we pay is the MF. I have tried to get out of this thing and no takers. I am thinking of just letting this thing go... but I am worried about the credit hit. it sounds like there is no hit to the credit if it is paid off. I have tried to get them to take it back and they have said I have to be 65 years old to get out of it. I have never heard of this before. anyone else?
You could take a credit hit. But perhaps that's less painful than throwing good money after bad. You will need to determine that.
 

Grammarhero

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I have a ts and it is paid off. it located in florida and all we pay is the MF. I have tried to get out of this thing and no takers. I am thinking of just letting this thing go... but I am worried about the credit hit. it sounds like there is no hit to the credit if it is paid off. I have tried to get them to take it back and they have said I have to be 65 years old to get out of it. I have never heard of this before. anyone else?
That is incorrect. 3 out of 12 TS defaults without loans, as reported by Tuggers, had credit affected ranging from 50 to 75 pts. One was DRI. Another Sheraton. Another an Independent AZ timeshare. Good luck! PM me your results to help others in the future.
 

Grammarhero

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You could take a credit hit. But perhaps that's less painful than throwing good money after bad. You will need to determine that.
The tug reported credit point drops have been 50 to 75 points.
 

Fredflintstone

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They seem to make up the rules as they go. I am well over 65 and they wouldn’t allow me to do a deed back yet I know someone who is 52 and owned at the same parent company and they accepted theirs. Good luck.
Here’s how I would think about this if I am well over 65. Normally, one is on a fixed income. This means sometimes the MF payment really does have impact.

Being well past 65, I normally am not planning any major purchases that require credit. Thus, a credit drop wouldn’t matter to me. Also, even if there was a credit drop, I know it loses significance in a few years at most. Knowing a few bankers, I know once they hear it’s timeshare related, the derogatory credit mark is discounted.

If the TS is in Florida, I also know the TS has limited options to recover anything but the timeshare.

Hmmmmm....I know what I would do. But, again, this is not me so you need to decide.


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haasle

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Here’s how I would think about this if I am well over 65. Normally, one is on a fixed income. This means sometimes the MF payment really does have impact.

Being well past 65, I normally am not planning any major purchases that require credit. Thus, a credit drop wouldn’t matter to me. Also, even if there was a credit drop, I know it loses significance in a few years at most. Knowing a few bankers, I know once they hear it’s timeshare related, the derogatory credit mark is discounted.

If the TS is in Florida, I also know the TS has limited options to recover anything but the timeshare.

Hmmmmm....I know what I would do. But, again, this is not me so you need to decide.


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I have my mind made up and I’m not concerned about a credit score drop but someone younger may feel differently.
 

CalGalTraveler

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The tug reported credit point drops have been 50 to 75 points.
I am curious. If walking from a fully paid unit (no mortgage), how would something like that get reported if you don't have a mortgage or loan to report against i.e. does a creditor, or HOA just send a note to Experian and say that xyz has not paid our bill? AFAIK credit reports don't seem to have a place for landlord and rent.
 
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Grammarhero

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I am curious. If walking from a fully paid unit (no mortgage), how would something like that get reported if you don't have a mortgage or loan to report against i.e. does a creditor, or HOA just send a note to Experian and say that xyz has not paid our bill? AFIK credit reports don't seem to have a place for landlord and rent.
The SSN is key, so the credit companies can identify said TS owner. If the creditor, billing company, or HOA sends contractual papers and consumer’s default/collection notices to one of the three credit agencies, those credit agencies will report. Consumer gets a chance to dispute or explain.

That is how many medical debts get reported to the credit agencies.
 

Grammarhero

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I have my mind made up and I’m not concerned about a credit score drop but someone younger may feel differently.
Please PM me with your results down the road.
 

Fredflintstone

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The SSN is key, so the credit companies can identify said TS owner. If the creditor, billing company, or HOA sends contractual papers and consumer’s default/collection notices to one of the three credit agencies, those credit agencies will report. Consumer gets a chance to dispute or explain.

That is how many medical debts get reported to the credit agencies.
Yes and sometimes DOB. They need key Data to access your credit file and sometimes a written consent depending on State.

However, when you buy resale, they don’t have your key data so they are out of luck. Yay, resale!


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Grammarhero

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Yes and sometimes DOB. They need key Data to access your credit file and sometimes a written consent depending on State.

However, when you buy resale, they don’t have your key data so they are out of luck. Yay, resale!


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I think TS resorts are getting better at demanding such info. Of my seven (7) Ts, only Sumday demanded a copy of my SSN card, likely because that’s what the Ts resort wanted. For my other six (6) Ts, TSN and Lt transfers only wanted a copy of my drivers license.
 

Fredflintstone

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I think TS resorts are getting better at demanding such info. Of my seven (7) Ts, only Sumday demanded a copy of my SSN card, likely because that’s what the Ts resort wanted. For my other six (6) Ts, TSN and Lt transfers only wanted a copy of my drivers license.
Yes, ID requirements have changed over the years.

When I bought (but now don’t have) my 9 timeshare weeks in 2009 and 2010, they wanted NO ID and get this, no...yes..no Purchase Contract to sign. I bought all of them on EBay back then.
Really, back then, no Purchase Contract made the sale void. I said nothing back then in case I wanted them gone

Now, many EBay vendors won’t sell to Canadians, demand two pieces of government issued ID and Signed (and most times) notarized purchase contracts are required. Many are starting to require Affidavits as well..

Yes, resort requirements are toughing up so they can act if you don’t pay. With today’s requirements, I will never buy a TS again.




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hajjah

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Wow! You have provided more help than I could ever had imagined. My sister and I are on vacation together now in FL. I have shared a great deal of information with her, including the advice not to make any contact with the two resorts or their collection companies. All of the advice given on this topic will allow other Tuggers to make wise decisions regarding their timeshares.
 

Grammarhero

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Wow! You have provided more help than I could ever had imagined. My sister and I are on vacation together now in FL. I have shared a great deal of information with her, including the advice not to make any contact with the two resorts or their collection companies. All of the advice given on this topic will allow other Tuggers to make wise decisions regarding their timeshares.
Please kindly let us know if your credit gets affected. Out of 20 defaults reported by tuggers, 6 got their credit affected. It’s 3/5 for mortgage defaulters. 3/15 for MF defaulters.
 

Grammarhero

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Wow! You have provided more help than I could ever had imagined. My sister and I are on vacation together now in FL. I have shared a great deal of information with her, including the advice not to make any contact with the two resorts or their collection companies. All of the advice given on this topic will allow other Tuggers to make wise decisions regarding their timeshares.
Do you know if she’s actually being sued, receiving non-judicial foreclosure notices, or just being threatened with lawsuits?
 
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