HIVC Foreclosure/Deedback Question

[Avi]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.

In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you

 

[Avi]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.
In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you
Clearly a newbie.. meant to tag HICV and not HIVC.

 

[OverIt]

Hi! Unfortunately, no advice as I am new and have a delimma myself except I still have a mortgage. I've been looking at cancelation companies which brought me here as I'm wondering why not just stop making payments myself and see what happens. Which is all crazy!

I hope you get some feedback and I didn't mean to hijack your post but I also didn't want to be redundant with advice posts and found this thread by searching MORTGAGE.

TIA for any offering

 

[ricvillar76]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.

In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you
Clearly a newbie.. meant to tag HICV and not HIVC.

Hello any update on your situation? I'm in the same boat with one at London Bridge Resort, AZ.

 

[Jupiter311]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.

In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you
Clearly a newbie.. meant to tag HICV and not HIVC.

We are in the same exact situation, mortgage has been paid off but behind of taxes and fee. They're foreclosing on us as well and according to them nothing can be done at this point unless payment is received in-full immediately, which we cannot afford. To my understanding they (HICV) will not report it to credit agencies, they will just charge it off and sell the debt to a 3rd party collection agency, who will then likely report it. Our concern is also the foreclosure aspect of this. We're not sure if this will be reported as an actual foreclosure as our mortgage is paid. This would destroy my chances of buying a house in the next 3 - 5 years and I don't know what to do.

 

[Kenil Place]

We are in the same exact situation, mortgage has been paid off but behind of taxes and fee. They're foreclosing on us as well and according to them nothing can be done at this point unless payment is received in-full immediately, which we cannot afford. To my understanding they (HICV) will not report it to credit agencies, they will just charge it off and sell the debt to a 3rd party collection agency, who will then likely report it. Our concern is also the foreclosure aspect of this. We're not sure if this will be reported as an actual foreclosure as our mortgage is paid. This would destroy my chances of buying a house in the next 3 - 5 years and I don't know what to do.

Following this thread as I have stopped paying maintenance fees on my paid-up TS too, and have been getting almost daily robo-calls from Wyndham which I let go to the answering machine. Kindly post back any updates or replies--hopefully you'll get some.

 

[silentg]

Have any of you used your timeshares? Have you exchanged it or rented it for maintenance fees? You could reach out to HICV or the resort you own to see what can be done. Good Luck hope you get it resolved.

 

[cobblover]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.

In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you

So sad you never got to use it. I would call the legal department, and ask how to do a rescind your ownership. Basically give it back to them. A friend just did this and paid the developer/management company about $500 and is now free and clear.

 

[cobblover]

Hi! Unfortunately, no advice as I am new and have a delimma myself except I still have a mortgage. I've been looking at cancelation companies which brought me here as I'm wondering why not just stop making payments myself and see what happens. Which is all crazy!

I hope you get some feedback and I didn't mean to hijack your post but I also didn't want to be redundant with advice posts and found this thread by searching MORTGAGE.

TIA for any offering

You could call the legal department, but typically I have heard they cannot offer any solution if you owe on your purchase. Perhaps you will get a "mortgage," and you will have to contact the mortgage loan company. If they are not willing to work with you, stopping payments will get their attention. edit ding but some have said it is not a bad one.

 

[adburks]

Hi Everyone,

Silver leaf suckered me and my wife into a timeshare at Apple Mountain, GA in 2012. By the time we came to our senses, the rescind period passed and we just decided to suck it up and payoff the mortgage. We paid it off by 2017 and since then we have just been paying maintenance but never ever used our TS - mainly coz we don’t live in GA.

In 2020 we stopped making our maintenance payments due to hardship during COVID, they called us but we mentioned we couldn’t make the payments. One of the reps informed us that it would eventually go into foreclosure but they don’t normally inform the credit bureaus about this since our Mtg was paid off. They’ll just take back our deed and we lose whatever we ‘invested’.
Can someone pls advise if what the rep said is true? If no, has anyone been in a situation where you could negotiate partial payment of the outstanding Maintenance charges or the deedback processing fees? We owe them 5k in maintenance. I looked up Horizon and they charge a 1200 USD processing fee for a deed back after we payoff our dues.

I can’t have my credit impacted as we are looking to buy a home next year. It’s been 2.5 yrs and so far non-payment has not impacted our credit scores.

Any advice is much appreciated. Thank you

Hello everyone,
just to drop a note of our experience at the present with HICV. Ours was one of the Silverleaf Resorts that is being closed down, Ozark Mt. Our morgage has been paid off for years so we wanted to get rid of our TS weeks and were directed to the Horizons Program in July. We paid them the $1200 Voluntary Surrender fee, plus the rest of the maintenance fees for the rest of 2023. Another $641 per our CC. They told us that we should receive the warrnty deed in 6-7 weeks. After 7 weeks we contacted them and it had not been sent out yet and that they would expedite it.
We recieved the paperwork within a week or 2. Got all signatures notirized and returned to them via overnight mail with a signature. We verified with on Oct 7th 2023, it had been received and they said they had and would start processing. Checked on it again November 30th, nothing had been done on it, but he would expedite it and check back in a couple of weeks. Checked again today 11 weeks later, still nothing. The thing they didn't tell us over the phone but was in the email they sent us in July after we paid them for 2023, is that if the deed transfer process was not completed by December 31st 2023, we would have to pay 2024 MF dues. So here it is a little over 2 weeks til December 31st and the process is still not completed. Would be interested to see if anyone else is experiencing the same issues with their deed tranfer (buy back) program?

 

[Herbalwise]

Why am I not surprised. They're obviously trying to get another years mf out of you. There's no way it should take this long, right?

Thanks for the heads-up. I'm thinking to try the Horizon Program next year. Is there anything about cancelling a Horizon Program application should I change my mind?

 

[adburks]

Why am I not surprised. They're obviously trying to get another years mf out of you. There's no way it should take this long, right?

Thanks for the heads-up. I'm thinking to try the Horizon Program next year. Is there anything about cancelling a Horizon Program application should I change my mind?

Don't know about w/d of processing app after it has already started. But I think I know why they been holding up on processing my paperwork. I received a dues bill today from HICV for Jan stating that our Silverleaf Dues/MF were going up from $128. to $248 to recover a debt evidently that Silverleaf Ozark Mt. Resorts had and it is being passed on to us owners. None of this was ever mentioned in the conversations we have had.

 

[Happytravels]

delete

 

[Happytravels]

Don't know about w/d of processing app after it has already started. But I think I know why they been holding up on processing my paperwork. I received a dues bill today from HICV for Jan stating that our Silverleaf Dues/MF were going up from $128. to $248 to recover a debt evidently that Silverleaf Ozark Mt. Resorts had and it is being passed on to us owners. None of this was ever mentioned in the conversations we have had.

adburks We are Silverleaf owners too. Never converting and never been to a sales meeting with HICV. I read A LOT. So know a lot of there tactics. We returned one of our weeks when they took all the benefits away from owning TWO. Back then it was free to return. Now our second unit is at Lake O the Woods. The resort has been CLOSED for years but they are still billing us mf's. Which we paid and they let us use other resorts within the Silverleaf family. They are pressuring us to reassign us to another resort but their PAPERWORK is very deceiving...lots of stuff in there that was NEVER in our original DEED. Like Joining THEIR CLUB. Using BONUS TIME only at your home resort etc. We just want them to take it back. Don't want to PAY them another $1200.00 on TOP of the mf's. It's ridiculous. We will see what happens. We really miss the old Silverleaf we bought into.
Oh BTW our mf's went from $128.33 to $147.19 for a resort that has been closed for more then 2 years. I'm not sure how this is even legal.

 

[adburks]

Don't know about w/d of processing app after it has already started. But I think I know why they been holding up on processing my paperwork. I received a dues bill today from HICV for Jan stating that our Silverleaf Dues/MF were going up from $128. to $248 to recover a debt evidently that Silverleaf Ozark Mt. Resorts had and it is being passed on to us owners. None of this was ever mentioned in the conversations we have had.

Just an update.....still have not received or heard anything back from HICV regarding clear deed. Just a letter and bill as stated in previous post.

 

[jbprstx]

Don't know about w/d of processing app after it has already started. But I think I know why they been holding up on processing my paperwork. I received a dues bill today from HICV for Jan stating that our Silverleaf Dues/MF were going up from $128. to $248 to recover a debt evidently that Silverleaf Ozark Mt. Resorts had and it is being passed on to us owners. None of this was ever mentioned in the conversations we have had.

I got the same letter but mine went from 128.33 to 279.46 and i just called them about a different issue and was told i have to pay those MF's until the resort is sold which who knows how long that will be.

 

[pissedoffguy]

Just an update.....still have not received or heard anything back from HICV regarding clear deed. Just a letter and bill as stated in previous post.

Any updates?

My parents haven't paid their maintenance fees in years because they hired a sketchy lawyer. They were thinking about repaying the fees and doing the deedback just to be done with it. But if it's not working anymore, they'll probably just let it default.

 

[Herbalwise]

They haven't paid in years but it's still not in default? HICV just letting them ride...how long has it been?

 

[pissedoffguy]

They haven't paid in years but it's still not in default? HICV just letting them ride...how long has it been?

Sorry for the delayed response. Just saw this now.

I think they paid through 2021. So they missed 2022 and 2023 because of that sketchy lawyer. They were willing to pay back in full plus the $1200 as long as HICV could give them something in writing, but HICV wouldn't do that. So my parents just aren't paying. I support that. What kind of organization wouldn't even give something like this in writing? Makes me question the validity of their deedback program.