How to cancel HGV club ownership? After rescind period

[DDuval]

I've tried searching through the threads but was hoping someone could provide me with a number/email address to get in touch with.
I recently purchased an 8k point package with HGV. I haven't even started making payments on it as the downpayment was put on the HH Amex and that's not due until Oct. 11th.
I, unfortunately, and unexpectedly, lost my job and know that I will not be able to make payments on a vacation "home" while trying to keep myself and my son housed in our regular home. I reached out today to the broker (I believe?) from when I purchased my membership but haven't heard back.
I'm desperate NOT to let it go into foreclosure because I do not want to have that hit on my credit.

Is there anyone who has faced a similar situation or knows of a specific number/email I can contact?
Thanks in advance

 

[HuskerATL]

If you have missed the window to rescind, then you only have two options; default and take the credit hit or try the deed back process

Read this post, https://tugbbs.com/forums/threads/hgvcs-deed-back-process.359743/

 

[pedro47]

First, there cannot be a mortgage on the contract and your MF must be paid in full for the year. You can ask forgiveness.

 

[DDuval]

First, there cannot be a mortgage on the contract and your MF must be paid in full for the year. You can ask forgiveness.

They waived the maintenance fee for this year. Not sure what you mean by no mortgage on the contract.
What I'm saying is that I have all the deeds, obviously missed the deadline for rescinding, but have not had to start making payments yet.

 

[HuskerATL]

First, there cannot be a mortgage on the contract and your MF must be paid in full for the year. You can ask forgiveness.

There would be loan payments on a retail deed purchased via a loan from Hilton. That is different from MFs.

 

[TUGBrian]

they mean if there is still a loan balance on the account, you dont have any options to sell or even give away without satisfying that loan.

other than defaulting, your only option is to try to negotiate something with them to alter or absolve you of your contract and the loan. In some hardship situations thats possible, though its an extremely low chance of success but costs you nothing to try! Though it sounds like you are already exploring this route as you mentioned they have agreed to waive your MF for the year? ive personally never heard of that happening so maybe you can keep pursuing that course of action with hilton!

 

[HuskerATL]

I wonder if they waived this year's MFs as part of the contract with the points starting in 2025 so would have fees starting in 2025.

 

[davidvel]

I've tried searching through the threads but was hoping someone could provide me with a number/email address to get in touch with.
I recently purchased an 8k point package with HGV. I haven't even started making payments on it as the downpayment was put on the HH Amex and that's not due until Oct. 11th.
I, unfortunately, and unexpectedly, lost my job and know that I will not be able to make payments on a vacation "home" while trying to keep myself and my son housed in our regular home. I reached out today to the broker (I believe?) from when I purchased my membership but haven't heard back.
I'm desperate NOT to let it go into foreclosure because I do not want to have that hit on my credit.

Is there anyone who has faced a similar situation or knows of a specific number/email I can contact?
Thanks in advance

There is no magic number to call and you cannot just make your contract go away. If you cannot make payments your problem will be solved in time, but likely not without a credit hit. If you can afford to make payments, you can avoid the credit hit.

 

[1Kflyerguy]

I wonder if they waived this year's MFs as part of the contract with the points starting in 2025 so would have fees starting in 2025.

That is likely what happened. HGV did exactly that years ago when we purchased direct later in the year. That is the best way to handle a late purchase as getting 2024 point in late October or November are not really very useful.

 

[Skyyblueplaya]

Im curious to know how this pans out for you, I hope that someone somehow can help you. Good Luck

 

[CalGalTraveler]

Sorry to hear you lost your job. You can also rent it out to cover the payments and avoid foreclosure but depends on whether it is a good season and week for rental.

What do you own?

 

[GT75]

Do you own in HGVC (typically a deed ownership, so you would own at a resort) or HVC (trust based ownership so you would own in a collection of properties)?