Diamond resorts Hawaii collection recent mortgage

[fast58]

Hello,

We recently moved from the US collection to the Hawaii collection. During this move we incurred a hefty mortgage in which we regret. We missed the 7 day rescission period by 1 day and now essentially bound to this mortgage. I am seeking a way out of this and have reached out to the different "exit companies" and find them another potential regret. Anyone been thru this and have any info? Been told to stop paying and fight it out with them...not sure which direction to head. Any advice would be greatly appreciated.
Thank you

 

[echino]

No legal way out of the mortgage. You can either pay off the mortgage and then do whatever you want with the actual timeshare, or you can stop paying and default. In that case, it's like a default on any other loan.

 

[dioxide45]

Yup, unfortunately you have very few options. TImeshare Exit companies will take tens of thousands from you because you have a mortgage and then essentially tell you to stop all communication. What happens in the end is you default, the lender forecloses and you are out. The difference is that you can do this yourself for free with the same result.

 

[fast58]

Yup, unfortunately you have very few options. TImeshare Exit companies will take tens of thousands from you because you have a mortgage and then essentially tell you to stop all communication. What happens in the end is you default, the lender forecloses and you are out. The difference is that you can do this yourself for free with the same result.

Yes starting to realize this. Do not know what direction to head with this so all this good info is a help. Thanks

 

[fast58]

No legal way out of the mortgage. You can either pay off the mortgage and then do whatever you want with the actual timeshare, or you can stop paying and default. In that case, it's like a default on any other loan.

Yes, starting to realize this. Not a lot of options. Thanks for the input

 

[Grammarhero]

Hello,

We recently moved from the US collection to the Hawaii collection. During this move we incurred a hefty mortgage in which we regret. We missed the 7 day rescission period by 1 day and now essentially bound to this mortgage. I am seeking a way out of this and have reached out to the different "exit companies" and find them another potential regret. Anyone been thru this and have any info? Been told to stop paying and fight it out with them...not sure which direction to head. Any advice would be greatly appreciated.
Thank you

@fast58 We hope you are well and healthy. If you make the hard decision to default, please kindly let us know if your credit got affected. It would help tuggers in similar situations moving forward.

Additionally, we got two successful cases of people who rescinded after 1 day late. Maybe you should email michael.flaskey@diamondresorts.com,

https://tugbbs.com/forums/threads/think-i-might-be-screwed.307408/post-2484140

https://tugbbs.com/forums/threads/b...ay-late-any-advice.293818/page-2#post-2360423

 

[goaliedave]

@fast58 We hope you are well and healthy. If you make the hard decision to default, please kindly let us know if your credit got affected. It would help tuggers in similar situations moving forward.

Additionally, we got two successful cases of people who rescinded after 1 day late. Maybe you should email michael.flaskey@diamondresorts.com,

https://tugbbs.com/forums/threads/think-i-might-be-screwed.307408/post-2484140

https://tugbbs.com/forums/threads/b...ay-late-any-advice.293818/page-2#post-2360423

Fyi Hilton bought Diamond and let Mike go as CEO. Unlikely his email is being answered.

 

[pedro47]

Fyi Hilton bought Diamond and let Mike go as CEO. Unlikely his email is being answered.

Now that is outstanding news that Hilton, let Diamond, Michael Flashy go.