HGVC's Deed Back Process

[dioxide45]

I totally agree that they can do all of those things and make an owner who wants to get out of their timeshare jump through other hoops that you didn't think of but if there are too many hoops or they are too high and expensive owners will just stop paying maintenance so their Deed Back Program didn't accomplish what the primary purposes of the program is; avoid maintenance deliqencies, avoid the costs of foreclosure, get the Property back in inventory so it can be resold quickly, get a maintenance paying owner for the Property quickly.

Some people just won't go into default though. There is a big stigma around default. I suspect they use the fee to deed back as a method to temper demand for deed backs. Open it up to being free and the HOA or developer gets flooded with more weeks than it knows what to do with. Put the fee there and some people will just keep paying.

 

[Tamaradarann]

The point is that no one should buy with hopes that this will be in place (as is).

Regardless of the purpose, if there are significant reductions in sales/rentals, they will need to make adjustments.
The travel industry has their ups and downs. With any economic downturn, there will be lots of timeshare owners unable to pay and wanting to get out. They won't be able to accomodate everyone.

I totally agree with what your saying here. I will add to your dooms day economic downturn with lots of owners unable to pay and wanting to get out; there will be more maintenance delinquencies and higher maintenance for those owners that continue to pay their maintenance to make up for those that don't pay.

 

[Tamaradarann]

Some people just won't go into default though. There is a big stigma around default. I suspect they use the fee to deed back as a method to temper demand for deed backs. Open it up to being free and the HOA or developer gets flooded with more weeks than it knows what to do with. Put the fee there and some people will just keep paying.

Good points. I totally agree that there needs to be a balance to keep the system running. However, perhaps the world at this time has built enough timeshares and few if any should be built. Instead of building more timeshares the developers need to concentrate on Deeded Back timeshares which gives them free inventory to sell so they won't have more weeks than they know what to do with!

 

[alwysonvac]

I totally agree with what your saying here. I will add to your dooms day economic downturn with lots of owners unable to pay and wanting to get out; there will be more maintenance delinquencies and higher maintenance for those owners that continue to pay their maintenance to make up for those that don't pay.

Yes and that's what we saw with the Great Recession that occurred in the late 2000s. It wasn't pretty. Some timeshare systems were hit harder than others.

 

[Tamaradarann]

Yes and that's what we saw with the Great Recession that occurred in the late 2000s. It wasn't pretty. Some timeshare systems were hit harder than others.

Yes I remember 2008/2009 and that was bad economic times. My husband and I were on our own high with getting ready for and then retiring to our 15 week retirement celebration trip spending the winter in San Diego, Kauai, Honolulu, Maui, Hawaii Island, and Miami South Beach all in Timeshares.

 

[geist1223]

For those not negatively affected by the Recission it was a time one could get great deals on Timeshares and Real Estate in general.

 

[alwysonvac]

For those not negatively affected by the Recission it was a time one could get great deals on Timeshares and Real Estate in general.

Yes, resales were much higher. Lots of folks got great deals.
I bought my first Lagoon Tower week when prices dropped.

Timeshares never came back after the recession of 2008. Resales are not recovering value.

I paid quite a bit resale for my first SBP lockoff unit. With closing costs and MF's reimbursed, plus a price tag of $1,300. This was a long time ago, I admit, but the recession brought the resale value down to $0 with free closing and free usage (if Vistana would even allow free usage during...

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[dioxide45]

For those not negatively affected by the Recission it was a time one could get great deals on Timeshares and Real Estate in general.

It's only a recession when other's lose their job. It's a depression when you lose your own.

 

[Chris-ATX]

It's only a recession when other's lose their job. It's a depression when you lose your own.

Brilliant!

 

[SpaceSkier]

I just started the Deedback process. The email address at the beginning of the thread worked for me after three tries. I got phone calls saying they didn't do deed surrenders the first two times. For your information, I have Las Vegas, the Boulevard, Gold, every other year studio.

 

[Snezz1e]

My deed back (District) is going pretty quickly for this last one. It only took them about 2 weeks from when they received notarized deed to record it.

Still on my account a week later but even if they take 3 months this time I don't have to worry about my account getting locked again.

One strange thing is there's now a $225 account balance for that deed for attorney fees. Can't pay for it online have to call to pay. Hopefully they wipe it out when they remove the deed from my account like they did for the MF for all the other deed backs. Nothing I signed stated I had to pay attorney fees.

 

[Tamaradarann]

My deed back (District) is going pretty quickly for this last one. It only took them about 2 weeks from when they received notarized deed to record it.

Still on my account a week later but even if they take 3 months this time I don't have to worry about my account getting locked again.

One strange thing is there's now a $225 account balance for that deed for attorney fees. Can't pay for it online have to call to pay. Hopefully they wipe it out when they remove the deed from my account like they did for the MF for all the other deed backs. Nothing I signed stated I had to pay attorney fees.

Let us know about the Attorney fees. However, if the attorney fees are only $225 for these Deedbacks then that is another reason for the Timeshare Companies to do Deedbacks rather than wait a few years and then do a foreclosure which must cost more that $225 for Attorney fees since it is a court legal act.

 

[alwysonvac]

Update: Received email of deed to sign back over. Did notary the same day and USPS shipped with sign approval. They received. Now awaiting final confirmation of everything being disbanded.

Here's the latest update from Kumo.
It was posted today on the free timeshare forum (link).

My sign in no longer works on HGV saying I'm no longer a member. THANK YOU everyone on here for a great forum and wealth of information...​

 

[Redeye563]

I just started the Deedback process. The email address at the beginning of the thread worked for me after three tries. I got phone calls saying they didn't do deed surrenders the first two times. For your information, I have Las Vegas, the Boulevard, Gold, every other year studio.

Over how long a period were your attempts?

 

[TUGBrian]

wanted to update the original post to include the diagram that details out the default process for hilton should owners find themselves in that situation.

also included it here! kudos to TUG member @alwysonvac who posted this!