Exit help please?

[Jnalaugh]

I have a fully paid off HGVC bi-annual timeshare, 3,840 points on odd year. Current Maint. fees & taxes $1014.95. Is there any way to use TUG to be fully released from this contract without hiring an attorney?

 

[DeniseM]

Yes - you can give it away on TUG - here's how: https://tugbbs.com/forums/threads/how-can-i-give-away-my-timeshare-on-tug-for-free.132509/

 

[Jnalaugh]

Will TUG then assume the deed and make a legal transfer?

 

[RX8]

Unfortunately, you really have just two options - give it away or stop paying the maintenance fees. An attorney will charge you money to send a letter on your behalf pleading your case. Not much more they can do. If you have a hardship, you could send a letter yourself explaining your situation. That won’t cost you anything but they are under no obligation to do anything.

There are exit companies that promise to get you out but they charge thousands of dollars and in most cases they just take your money and do little to nothing. Their successful exits are those that an owner could do for free, such as giving it away for free or advising you to stop paying which results in a foreclosure.

Your timeshare has no value. You might have to consider giving a bonus gift card at closing and/or free 2024 usage. Either way it will still be thousands cheaper than paying an exit company.

TUG does not take over the deed. TUG is just a forum with many people offering their advice to help you do it yourself. A recommended closing company is LT Transfers. They charge about $250 but when you find a taker they will handle everything for you, including contracts and recording the deed.

Good luck.

 

[DeniseM]

Will TUG then assume the deed and make a legal transfer?

No - please read the link. You are going to post an Ad on TUG, offering to give away your timeshare to someone who wants it:

HERE'S HOW: https://tugbbs.com/forums/threads/how-can-i-give-away-my-timeshare-on-tug-for-free.132509/

 

[JONC777]

email resale@hgvc.com include your member number and ask them about options. In years past ive been offered anywhere from a free deedback, a small price buyout ($1449) and or an option to list it for sale with them. never hurts to ask. in all instances the mortgage needs to be paid off

 

[Talent312]

Will TUG then assume the deed and make a legal transfer?

TUG as a TS buyer & seller?
TUG could hire some TS sales-creeps who'd work on commission.
That would certainly seal TUG's standing as the worst TS company.
<satire>

 

[brial05]

If you are willing to give it away for free, contact anyone here who is in the business, Seth, for example, and tell him to sell it for you and that you want no money and that you don't want to have to pay money.

It may take awhile, to be honest, you should have done this at the beginning of the year as you will have to pay that maint. this year.

I would say if you can get out by only having to pay that last maint. payment for this year, you did just fine.

 

[alwysonvac]

Which resort?
If it's a one bedroom during silver season, those are harder to give away.

Definitely contact HGVC first to see if they will take it back for free (or a fee).
You can try giving it away here on TUG by offering the 2024 week for free with reimbursement of closing cost (upon completion of the sale).
If you're unsuccessful on TUG, perhaps you can try a dollar auction on ebay or $1 on Redweek.com or some of the others that deal with giveaways.

 

[Jnalaugh]

Unfortunately, you really have just two options - give it away or stop paying the maintenance fees. An attorney will charge you money to send a letter on your behalf pleading your case. Not much more they can do. If you have a hardship, you could send a letter yourself explaining your situation. That won’t cost you anything but they are under no obligation to do anything.

There are exit companies that promise to get you out but they charge thousands of dollars and in most cases they just take your money and do little to nothing. Their successful exits are those that an owner could do for free, such as giving it away for free or advising you to stop paying which results in a foreclosure.

Your timeshare has no value. You might have to consider giving a bonus gift card at closing and/or free 2024 usage. Either way it will still be thousands cheaper than paying an exit company.

TUG does not take over the deed. TUG is just a forum with many people offering their advice to help you do it yourself. A recommended closing company is LT Transfers. They charge about $250 but when you find a taker they will handle everything for you, including contracts and recording the deed.

Good luck.

Giving it away is always an option. If I stop making the payment on the maintenance fees, wouldn't that still leave me responsible?

 

[Snezz1e]

Giving it away is always an option. If I stop making the payment on the maintenance fees, wouldn't that still leave me responsible?

Check out this thread where I just made a post. You can give deed back to HGVC. They got back to me in little over week after contacting them. You may be able to get rid of it before maintenance fee is truly due (there's a grace period beyond Jan 1).

Any recent information about deed back to HGVC? I'm looking for contact information for inside HGVC, not for outside timeshare resale brokers.

We own a deeded one-week timeshare at West 57th by Hilton in NYC. It is paid off and dues are current through the end of 2023. Due to my husband's age and poor health we can't use it any longer. I asked about deed back the last time we used it and was told that someone named "Seth" (no last...

tugbbs.com

 

[RX8]

Giving it away is always an option. If I stop making the payment on the maintenance fees, wouldn't that still leave me responsible?

If you give it away of course the dues would have to be current otherwise HGVC won't process the transfer. If you decide to stop paying the maintenance fees and walk away, you will continue to be responsible (and they will continue to bill you). At some point they will foreclose and take the deed back. What happens after that is an unknown. They will attempt to collect past due maintenance fees via phone or mail. They may sell the debt to a collection agency and they will attempt to collect from you. After foreclosure, they might continue to collect the past fees or they may just write off the balance.

As others have previously said, definitely contact the resort and see if they would accept a deed back or a deed in lieu of foreclosure. A foreclosure process costs the resort money. If they feel that they will not get any more money from you they may just accept the deed in lieu to minimize their cost.

Below is a good thread that has tracked defaults and the resulting timeshare resort actions as well as credit bureau impacts, if any.

[ 2022 ] Timeshare Default Credit Report/Collection Tracking

Some of you know I have been tracking this. Out of four (4) more TS defaults reported on TUG Facebook, one (1) got his credit affected. I have tabbed the following stats(updated 5/2022): TS defaults w credit drops: 47 out of 107 TS defaults w collections: 12 out of 107 TS defaults w...

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