IFeelScrewed
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- Sep 21, 2023
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Good morning Ya'll,
Like a lot of people (though that doesn't make me feel any better) I fell for the BlueGreen sales pitch. We planned to say no so we didn't do any through research beforehand and by the time a big enough red flagged hit us it was already passed the rescind time.
If interested in what we have: 7,000 points for $18000 and the Traveler Plus. We bought in Missouri and the vacation week# is 2210Z/3F (<--I don't understand what that means)
Maintenance fees & Club dues: 591.50+159
Bonuses we got are:
- 4000 points activate next Oct 2024
- Extra Vacation getaway cert (enjoy (1) 7 night vacation per year for 3 years through Resort Rental, LLC at select resorts at which PR has inventory, etc...)
- Roundtrip airline cert for 2 coach-class airfare tickets (once made the first 6 monthly payments, turn in postcard, takes 6 weeks for delivery of airline cert package, then can book but will have to pay government taxes, carrier and agency imposed fees)
- Maintenance fee & Club dues waiver cert (offers to waive your obligation to pay the first 6 months of fees & dues) IF pay first 6 months payments of principal and interest in connection with your purchase moneu promissory note in a timely manner or pay off your purchase money promissory note in full within 6 months from date of purchase)
What the big part of the pitch that sucked us in was the idea that we could save points and after we adopted children we would have all these saved up points to use for trips with them. And that RCI also had destinations for campgrounds, cabins, RVs, etc that aren't a basic hotel and the big pro for BlueGreen Hotels was that each unit had a stove and bigger units had washer and dryer. Sidenote: the house we are currently living in doesn't have enough space to adopt so we can't start the process until after we can afford a bigger house. I stupidly was waiting to get my account access to the website so I can see the sites that RCI offers when I read online somewhere that it cost $50 to rollover BG points and you can only rollover for a year. Then read that to transfer to RCI it cost even more money to do that and that the ratio is so bad that it isn't even worth it. That's when I saw that there was no way out except to rescind but of course I was pass that date. I called customer service and they recommended sending it anyway with all the free vouchers. I did that and then was called from customer care management and he gave me my 3 options (transfer to someone else/sell through resell company/default). So now I don't even have the airline postcard and I can't get out. Then learning I could have bought this from another person by basically paying the transfer ownership cost really hit me hard, that basically showed that paying 18,000 (plus interest) is a waste and valueless.
I feel I have two best-ish options:
1. Stay in for 8 months to 2 years. If I do less than a year then I could use the Maintenance fee/Club due waiver (though I'm not clear on how that works), the airline cert (if I can get postcard back), and 1 extra vacation getaway. If more than year then I get a bonus 4000 pts and another extra vacation getaway. But then the interest is accumulating rapidly since it's 15.99% (I thought I could refinance but not seeing much lower elsewhere). Then bite the bullet and default. I don't think that would be enough time for us to save up and buy a bigger house and adopt children. And I don't know how much impact defaulting would have on us buying a new house and adoption process.
2. Default now. The foreclosure would occur per Missouri laws so it would be mortgage foreclosure deficiency, 10 years statue of limitation, and nonjudicial (still trying to learn what all that means). They would go to nonjudicial so no court appearance and since I wouldn't argue against then the deed would go to foreclosure and they would 'attempt' to sell it to re-coop the loan debt. Both of our credit scores would take a hit. And the debt collectors would come after us for the remaining balance following Wisconsin laws. Idk what other actions BlueGreen can take. This statement in the contract has us worried "Purchaser shall be liable for lendor's reasonable attorney fees and costs incurred by it by virtue of any litigation as to the parties' rights hereunder if any of the lender is the prevailing party". And depending on how things go it could lead to filing a bankruptcy. Plus we would look into hiring a debt collection lawyer. Have to work on building up our credit score before we can try to get a bigger house and adopt.
I would love to hear about similar situations and how they ended. Also what people would do in my situation. Any advice on moving forward would be appreciated!
Hopefully the responses will also help other people that don't want to spend time writing paragraphs, lol.
Like a lot of people (though that doesn't make me feel any better) I fell for the BlueGreen sales pitch. We planned to say no so we didn't do any through research beforehand and by the time a big enough red flagged hit us it was already passed the rescind time.
If interested in what we have: 7,000 points for $18000 and the Traveler Plus. We bought in Missouri and the vacation week# is 2210Z/3F (<--I don't understand what that means)
Maintenance fees & Club dues: 591.50+159
Bonuses we got are:
- 4000 points activate next Oct 2024
- Extra Vacation getaway cert (enjoy (1) 7 night vacation per year for 3 years through Resort Rental, LLC at select resorts at which PR has inventory, etc...)
- Roundtrip airline cert for 2 coach-class airfare tickets (once made the first 6 monthly payments, turn in postcard, takes 6 weeks for delivery of airline cert package, then can book but will have to pay government taxes, carrier and agency imposed fees)
- Maintenance fee & Club dues waiver cert (offers to waive your obligation to pay the first 6 months of fees & dues) IF pay first 6 months payments of principal and interest in connection with your purchase moneu promissory note in a timely manner or pay off your purchase money promissory note in full within 6 months from date of purchase)
What the big part of the pitch that sucked us in was the idea that we could save points and after we adopted children we would have all these saved up points to use for trips with them. And that RCI also had destinations for campgrounds, cabins, RVs, etc that aren't a basic hotel and the big pro for BlueGreen Hotels was that each unit had a stove and bigger units had washer and dryer. Sidenote: the house we are currently living in doesn't have enough space to adopt so we can't start the process until after we can afford a bigger house. I stupidly was waiting to get my account access to the website so I can see the sites that RCI offers when I read online somewhere that it cost $50 to rollover BG points and you can only rollover for a year. Then read that to transfer to RCI it cost even more money to do that and that the ratio is so bad that it isn't even worth it. That's when I saw that there was no way out except to rescind but of course I was pass that date. I called customer service and they recommended sending it anyway with all the free vouchers. I did that and then was called from customer care management and he gave me my 3 options (transfer to someone else/sell through resell company/default). So now I don't even have the airline postcard and I can't get out. Then learning I could have bought this from another person by basically paying the transfer ownership cost really hit me hard, that basically showed that paying 18,000 (plus interest) is a waste and valueless.
I feel I have two best-ish options:
1. Stay in for 8 months to 2 years. If I do less than a year then I could use the Maintenance fee/Club due waiver (though I'm not clear on how that works), the airline cert (if I can get postcard back), and 1 extra vacation getaway. If more than year then I get a bonus 4000 pts and another extra vacation getaway. But then the interest is accumulating rapidly since it's 15.99% (I thought I could refinance but not seeing much lower elsewhere). Then bite the bullet and default. I don't think that would be enough time for us to save up and buy a bigger house and adopt children. And I don't know how much impact defaulting would have on us buying a new house and adoption process.
2. Default now. The foreclosure would occur per Missouri laws so it would be mortgage foreclosure deficiency, 10 years statue of limitation, and nonjudicial (still trying to learn what all that means). They would go to nonjudicial so no court appearance and since I wouldn't argue against then the deed would go to foreclosure and they would 'attempt' to sell it to re-coop the loan debt. Both of our credit scores would take a hit. And the debt collectors would come after us for the remaining balance following Wisconsin laws. Idk what other actions BlueGreen can take. This statement in the contract has us worried "Purchaser shall be liable for lendor's reasonable attorney fees and costs incurred by it by virtue of any litigation as to the parties' rights hereunder if any of the lender is the prevailing party". And depending on how things go it could lead to filing a bankruptcy. Plus we would look into hiring a debt collection lawyer. Have to work on building up our credit score before we can try to get a bigger house and adopt.
I would love to hear about similar situations and how they ended. Also what people would do in my situation. Any advice on moving forward would be appreciated!
Hopefully the responses will also help other people that don't want to spend time writing paragraphs, lol.
