• The TUGBBS forums are completely free and open to the public and exist as the absolute best place for owners to get help and advice about their timeshares for more than 29 years!

    Join Tens of Thousands of other Owners just like you here to get any and all Timeshare questions answered!
  • TUG started 29 years ago in October 1993 as a group of regular Timeshare owners just like you!

    Check out our happy birthday post here: Happy Birthday TUG!
  • TUG has a YouTube Channel to produce weekly short informative videos on popular Timeshare topics!

    Come check it out for a chance to win a Free TUG membership (or renewal) just for helping out!

    Read more here
  • TUG has now saved timeshare owners more than $20,000,000 dollars just by finding us in time to rescind a new Timeshare purchase! A truly incredible milestone!

    Read more here: TUG saves owners more than $20 Million dollars
  • Our 2022 Timeshare Survey is now complete and the full results as well as our expert and witty analysis of each question is available here: Here We hope you enjoy reading the results as much as we did!
  • Follow the TUG Member Banner as it travels the world on vacation with Timeshare owners! Also sign up to get the banner sent to you so you can submit a photo of your vacation with the banner to share with TUG! Banner Thread
  • Sign up to get the TUG Newsletter for free! 50,000+ subscribers! Latest resort reviews and the most important topics discussed by owners during the week!
  • Our official "end my sales presentation early" T-shirts are available again! Also come with the option for a free membership extension with purchase to offset the cost!

    Read more Here
  • A few of the most common links here on the forums for newbies and guests!

Contact number for Marriott Owner Services?

LAX Mom

TUG Review Crew: Veteran
TUG Member
Joined
Jun 7, 2005
Messages
3,561
Reaction score
92
Points
433
A neighbor is interested in getting rid of a Marriott unit she purchased 2 years ago. She financed it (14.5%!!) with Marriott and is making monthly payments for another 8 years. It's a very high demand property, but I've confirmed with Seth Nock that this unit is worth considerably less than she currently owes on it.

I doubt that Marriott would take it back, but I figure it's worth a call to ask them about it. Does anyone have a contact or number for someone to call?

Thanks!
 

LAX Mom

TUG Review Crew: Veteran
TUG Member
Joined
Jun 7, 2005
Messages
3,561
Reaction score
92
Points
433
Thanks Tom.
I thought I had seen a post from someone who contacted a specific Marriott dept. about buying back their unit. I've searched TUG and can't find the info. I guess the owner services dept. is a good place to start.
 

dioxide45

TUG Review Crew: Expert
TUG Member
Joined
May 20, 2006
Messages
42,270
Reaction score
14,593
Points
1,299
Location
NE Florida
Resorts Owned
Marriott's Grande Vista
Marriott's Harbour Lake
Sheraton Vistana Villages
It never hurts to ask, but I would give the success rate to be about 0.00000000000001%. Marriott isn't going to just take back a week with a huge loan balance. They have more recently been buying back weeks, but there is really perhaps only about a 50-75% premium above e-bay prices. These were for gold weeks and low end platinum. 50% more than $1500 is only $2250. Not nearly enough to cover the loan.

If it is in a high demand place, could your neighbor could rent it to at least cover some costs? Are rental rates a lot higher than MFs?

My guess is that the neighbor is stuck with it unless they are willing to default and force Marriott to foreclose.
 

SueDonJ

Moderator
Joined
Jul 26, 2006
Messages
16,319
Reaction score
5,366
Points
1,249
Location
Massachusetts and Hilton Head Island
Resorts Owned
Marriott Barony Beach and SurfWatch
This page for Marriott's Resale Operations has info for owners wishing to sell. No idea if/how successful your friend's experience will be but it might be a good place to start.
 

LAX Mom

TUG Review Crew: Veteran
TUG Member
Joined
Jun 7, 2005
Messages
3,561
Reaction score
92
Points
433
Thanks for the links, that's what I was looking for.

Yes, they could rent it for more than the MF. Even though the MF's are over $2,000, I think they could cover the MF. (It is a very high demand property in a great location!) But that doesn't help with the monthly payment of $553 per month for the next 8 years! They financed through Marriott at 14.5% for 10 years!! Purchase price was $37,800 but she's not sure what the loan balance currently is. Seth Nock tells me the most recent one he sold went for $14,000, so she's going to take a big loss if she can find a buyer.

I know there is a very slim chance Marriott would take it back, but I wanted to give her some options.
 

BocaBoy

TUG Member
Joined
Jun 5, 2009
Messages
5,314
Reaction score
403
Points
368
Location
Wisconsin
Resorts Owned
Grand Chateau
Yes, they could rent it for more than the MF. Even though the MF's are over $2,000, I think they could cover the MF. (It is a very high demand property in a great location!) But that doesn't help with the monthly payment of $553 per month for the next 8 years! They financed through Marriott at 14.5% for 10 years!! Purchase price was $37,800 but she's not sure what the loan balance currently is. Seth Nock tells me the most recent one he sold went for $14,000, so she's going to take a big loss if she can find a buyer.

I know there is a very slim chance Marriott would take it back, but I wanted to give her some options.

For starters, how about a 0% credit card balance transfer to pay off the Marriott loan balance?
 
Top