Certified Exit Program

[Rolltydr]

It looks like Wyndham is evolving from Ovation to Certified Exit for those needing to divest of their timeshare.

Certified Exit

Timeshare ownership is a journey. One that can evolve with your life. That’s why there’s Certified Exit – backed by Wyndham. Your first and only source for exit options when your needs change.

clubwyndham.wyndhamdestinations.com

 

[chapjim]

As a name, Ovation never made a lot of sense anyway.

 

[WyndhamBarter]

never made a lot of sense anyway

You would have preferred The Last Hurrah?

The Fat Lady Sings by Wyndham(tm) probably wouldn't
pass muster under today's criteria for being 'woke'.

 

[Rolltydr]

You would have preferred The Last Hurrah?

The Fat Lady Sings by Wyndham(tm) probably wouldn't
pass muster under today's criteria for being 'woke'.

How about The Last Mile? More appropriate?

 

[spackler]

Whatever they call it, it's one of the few times Wyndham will be honest about the value of your timeshare/points ownership.

 

[dgalati]

You would have preferred The Last Hurrah?

The Fat Lady Sings by Wyndham(tm) probably wouldn't
pass muster under today's criteria for being 'woke'.

Last Hurrah LOL

Whatever they call it, it's one of the few times Wyndham will be honest about the value of your timeshare/points ownership.

They do set the bar low at $0. They are the biggest trader of deeds selling at 20k plus but buying at $0. A business plan that many could only dream about.

 

[dgalati]

How about The Last Mile? More appropriate?

LAST DANCE! This should bring back some memories.

 

[rickandcindy23]

Last Hurrah LOL


They do set the bar low at $0. They are the biggest trader of deeds selling at 20k plus but buying at $0. A business plan that many could only dream about.

But if you want out, it's still the best way to get out of Wyndham. I am considering it for some of my own contracts. I have great maintenance fees but nothing is working as it did 13 years ago. I would guess Wyndham is truly shutting down the mega renters by withholding 50% discounted inventory from people like us. We were rather a small player in that mega renter field. We own a little over 9 million points between two accounts. Our daughter rented our points to stay home with the kids. She has another job and is doing the Wyndham rentals part time because it's no longer making her enough income. I just want the MF's back. We banked almost all of our points from this year to next. You can imagine the financial worry Rick and I are experiencing.

 

[Family_travel]

It is especially a good option for those small contracts for higher MF resorts (if they are eligible, of course)

 

[dgalati]

But if you want out, it's still the best way to get out of Wyndham. I am considering it for some of my own contracts. I have great maintenance fees but nothing is working as it did 13 years ago. I would guess Wyndham is truly shutting down the mega renters by withholding 50% discounted inventory from people like us. We were rather a small player in that mega renter field. We own a little over 9 million points between two accounts. Our daughter rented our points to stay home with the kids. She has another job and is doing the Wyndham rentals part time because it's no longer making her enough income. I just want the MF's back. We banked almost all of our points from this year to next. You can imagine the financial worry Rick and I are experiencing.

Just covering the cost of maintenance fees is a concern for most large owners and Yes Wyndham makes it very easy to exit but only if it is paid in full. This exit strategy is a great way for owners to exit their burden of paying maintenance fees. It also helps Wyndham eliminate the traders of deeds or the competition. Wyndham is also helping themselves to free inventory to sell at developer pricing. Like I said a very good business model that only a few companies can dream of. I was trading deeds for several years buying, using all points then selling to cover any costs. This was a great way to travel for next to nothing. The problem was Wyndham started a negative balance when you sold deeds without any current use year points. The first year they told me it would just zero out at the start of next use year . But the following year the rules changed again and they tried to charge me $12/1000 on the negative balance. As of today when you own multiple deeds the only way to use current use year points and sell without a negative balance is to exit Ovations. Now if you own only one deed you can sell after using all current use year points without a problem. Please note that The club can change rules at any time. Fortunately for me this negative balance came into play last year or I would have been sitting on multiple deeds with over 1 million points along with the burden of paying maintenance fees on them.

 

[montygz]

"Exit" has been the go-to term for those law firms advertising on TV and radio. Because people are familiar with that term, it makes sense for Wyndham to latch on.

 

[55plus]

I might give them a call. I have a resale Glacier Canyon deed I don’t need. I’ll see how this works and report back.

 

[hunter]

How hard will it be for my son to get rid of my contract when I die if his name is not on it?

 

[Eric B]

If his name isn’t on it, he doesn’t really have to get rid of it. He doesn’t have to accept any part of an inheritance, but may need to actually refuse it in writing.

 

[55plus]

One can refuse an inheritance.

 

[VAlegacy]

My family went through this recently with Diamond. Diamond asked if the family wanted it. When nobody did, they just foreclosed on it, and that was the end

 

[Geo514]

I just started this process today. My wife was diagnosed with cancer and we don't want the burden of monthly fees any longer. But what a racquet! We paid thousands over the 30 years to keep up with the changes, not to mention the monthly fees that for the last 10 years are north of $2k/month. Will be getting ABSOLUTELY nothing in return except the saving of our monthly fees. I figured if we just used $2k/yr to rent a condo or house we could have saved $25k conservatively over that 30 years!! Like
dgalati says a business plan that many could only dream about.

 

[MaryBella7]

I just started this process today. My wife was diagnosed with cancer and we don't want the burden of monthly fees any longer. But what a racquet! We paid thousands over the 30 years to keep up with the changes, not to mention the monthly fees that for the last 10 years are north of $2k/month. Will be getting ABSOLUTELY nothing in return except the saving of our monthly fees. I figured if we just used $2k/yr to rent a condo or house we could have saved $25k conservatively over that 30 years!! Like
dgalati says a business plan that many could only dream about.

I am curious, how many points did you have to rack up 2k monthly in fees? Or was there financing as well.

 

[dgalati]

I am curious, how many points did you have to rack up 2k monthly in fees? Or was there financing as well.

Depending on at what resorts they owned I am guessing probably 4-6 million points.

I just started this process today. My wife was diagnosed with cancer and we don't want the burden of monthly fees any longer. But what a racquet! We paid thousands over the 30 years to keep up with the changes, not to mention the monthly fees that for the last 10 years are north of $2k/month. Will be getting ABSOLUTELY nothing in return except the saving of our monthly fees. I figured if we just used $2k/yr to rent a condo or house we could have saved $25k conservatively over that 30 years!!
Like
dgalati says a business plan that many could only dream about.

So sorry to hear about your wife. Yes it is a business plan only a few companies can dream of. Unfortunately many have had their finances wrecked by attending a presentation for the $150 gift. I still remember the 2 presentations I attended in Lake Tahoe on my Honeymoon in 1987. One paid $100 and the 2nd paid $150. They were selling it as a investment. Lucky for me I knew a little more about investment or rental property then the average 25 year old newlywed. I just wasn't buying into a 1 week vacation for 12k when I could control a 60k rental house for 52 weeks with the same 12k. Not to mention the accelerated depreciation that was available back then buying a timeshare just wasn't a good deal to me no matter how many closers they threw at me. I laughed when they said their offer was a one time deal and could not be offered again once I walked out of the building. Lucky for me the best investment I made was in my marriage and proud to say we just celebrated our 33 anniversary.

 

[chapjim]

I just started this process today. My wife was diagnosed with cancer and we don't want the burden of monthly fees any longer. But what a racquet! We paid thousands over the 30 years to keep up with the changes, not to mention the monthly fees that for the last 10 years are north of $2k/month. Will be getting ABSOLUTELY nothing in return except the saving of our monthly fees. I figured if we just used $2k/yr to rent a condo or house we could have saved $25k conservatively over that 30 years!! Like
dgalati says a business plan that many could only dream about.

Your interest is in saving $2K/month. If you accomplish that, you win and have no continuing interest in what happens to your contract(s). All the nonsense about business plans is just that.

Save the $2K/month, use half of one month's savings to rent a nice place from a VIP. (Right, Dominic?)

 

[chapjim]

I am curious, how many points did you have to rack up 2k monthly in fees? Or was there financing as well.

I have 4,677,500 points and pay maintenance fees of a little over $2,700/month. No financing -- never has been.

Most of my points are at Bonnet Creek and Ocean Walk, neither of which has low maintenance fees.

 

[dgalati]

Your interest is in saving $2K/month. If you accomplish that, you win and have no continuing interest in what happens to your contract(s). All the nonsense about business plans is just that.

Save the $2K/month, use half of one month's savings to rent a nice place from a VIP. (Right, Dominic?)

I have seen 2 bedroom presidential units renting for less then $800 a week on TUG last minute rentals.

 

[Sandi Bo]

I just started this process today. My wife was diagnosed with cancer and we don't want the burden of monthly fees any longer. But what a racquet! We paid thousands over the 30 years to keep up with the changes, not to mention the monthly fees that for the last 10 years are north of $2k/month. Will be getting ABSOLUTELY nothing in return except the saving of our monthly fees. I figured if we just used $2k/yr to rent a condo or house we could have saved $25k conservatively over that 30 years!! Like
dgalati says a business plan that many could only dream about.

So sorry about your wife's illness. I hope the very best for her!

Probably my Dad's biggest concern was burdening us kids with timeshare maintenance fees (he called it the gift that keeps on taking). I'd reassurance him there was Ovations and worse case scenario Wyndham would take them back. I'll quote my father, dripping with sarcasm, "that's awful nice of them".

 

[Delaneyslaw]

It looks like Wyndham is evolving from Ovation to Certified Exit for those needing to divest of their timeshare.

Certified Exit

Timeshare ownership is a journey. One that can evolve with your life. That’s why there’s Certified Exit – backed by Wyndham. Your first and only source for exit options when your needs change.

clubwyndham.wyndhamdestinations.com

I used Wyndham Certified Exit last year and it was easy to return my multiple contracts (Bonnet Creek).

Yes, it was at zero dollars, but we have taken full advantage of the timeshare over 25 years, many of the points at very low rates, so in general it worked out.

The only one they would not take back is an old, weeks-based timeshare from the 1990's (Star Island). They said I could convert it to points, but that would have required thousands of dollars, for a very low return. So we still have that one, paying very low maintenance fees, and it keeps us in RCI, so we can still use it periodically.

The Wyndham Certified Exit program worked just as advertised. It took about 4 months to complete.