Mega Owners at Club Wyndham Harbortown Point Default on Maintenance Fees

[stevenh21]

When they say "this year", do they mean for 2025? If so, it would seem to indicate that Wyndham had this planned as far back as 2024 when the fees were originally levied.

The maintenance fees were delinquent for 2025.

 

[Jan M.]

Jan, you make some good points in your reply. The resort is still listed as a Wyndham resort in the app. It has been common to see availability in both RCI and II. The resort does have 57 units. It also has regular delinquencies, and does accept units back from owners in good standing. I do think the 416 week units was not the total for the year, thus the letter was pointing out two major, unnamed owners. Maybe owners will get more information with the November billing for 2026. Lastly, at the end of my post, I stated that it was conjecture. One entity ( entities) were acting as a disruptor. I compared this to Wyndham's actions with other resorts. It is a fact that
Wyndham owns units. What is unknown to the public, are the names of the two major entities.

$367,800 ÷ 416 = $884.13 that sounds right for a year's maintenance fees per week.

 

[stevenh21]

Could this be another 11th hour surprise? A-la Pagosa?

This Wyndham Purge is the gift that keeps on giving.

The poor sales weasel that gets assigned to me Friday has no idea what's coming

This is not an 11th hour purge. The HOA is doing the budget for 2026 and deciding how much will come from owners and how much can come from reserves. The names of the two major delinquent owners have not been made public.

 

[dioxide45]

This is not an 11th hour purge. The HOA is doing the budget for 2026 and deciding how much will come from owners and how much can come from reserves. The names of the two major delinquent owners have not been made public.

If they start transferring money from reserves, I would say things are bad. That isn't a good long term plan. The HOA needs to take ownership of these deeds via foreclosure so they can start monetizing them again. If they don't, the future of the property is in jeopardy.

 

[stevenh21]

$367,800 ÷ 416 = $884.13 that sounds right for a year's maintenance fees per week.

You're good. We own one of the larger units which counts as a one BR. It has a hotel lockoff to the side of a studio. The maintenance fee for 2025 was $889. The studios are a little less

 

[dioxide45]

If these unit weeks are indeed Wyndham owned, it would seem that Wyndham doesn't control enough of the votes to control the association or the association BOD to have them file Chapter 11 like the other properties have.

While I agree that, on TUG, we sometimes advise people to just stop paying and go into default but we often first tell them to try giving their week away or finding someone willing to take it. In other words, we try to push them to "do the right thing" first. Did Wyndham first try to do this? Were they not able to sell these weeks to another entity? I suspect the weeks have $0 resale value? Did they just, simply, not pay? Did they try to work with the BOD/HOA first to come to a better solution?

 

[stevenh21]

If they start transferring money from reserves, I would say things are bad. That isn't a good long term plan. The HOA needs to take ownership of these deeds via foreclosure so they can start monetizing them again. If they don't, the future of the property is in jeopardy.

I agree. The board is conferring with their attorneys. The goal is to collect monies now and in the future. Harbortown's 50 year lease with the Ventura Harbor Authority expires in 2033.

 

[Roger830]

What's good for the goose.... An individual's financial decision to default is no different from this business/financial move Wyndham is making. It would make sense that Wyndham would want to keep what I/we think they're doing with Harbortown Point on the downlow as much as possible. They wouldn't want owners thinking if Wyndham can default then we can too. From what I've seen people, who I think know what they're talking about say, defaulting on a timeshare doesn't hurt a person's credit to the extent that some people fearmonger it does.

Many years ago someone here that had defaulted on a timeshare had discussed the mark on his credit with a banker who then told him that his understanding was that it was quite common. The member got his mortgage.