Need Advice

[Grammarhero]

How do I PM you? Just attach the file on here?

You could also let us know where your other two Wyndham TS are located. That will let us know the deficiency treatment upon foreclosure.

 

[Grammarhero]

I estimate OP’s rescinded TS to be about $25k. His deposit was $7k. His payments on the rescinded TS would be about $500 for ten (10) years. Using the 12 percent interest rate and the Accounting 72 Rule of 2, looks like the financed value is about $18k.

 

[dgalati]

I estimate OP’s rescinded TS to be about $25k. His deposit was $7k. His payments on the rescinded TS would be about $500 for ten (10) years. Using the 12 percent interest rate and the Accounting 72 Rule of 2, looks like the financed value is about $18k.

The way Wyndham hoodwinked the OP he should just walk away and stop paying. Sorry to the few that think it is wrong to use anti deficiency laws to their advantage. But this OP was totally taken advantage of. I would also suggest trying to have the credit card charges reversed if he can prove it is not mentioned in his purchase agreement.

 

[Grammarhero]

@BilWil I provided you the wrong link earlier. This is the correct link. Where are your two TS deeded?

Links to Official State Timeshare Laws and Guides/Manuals

somehow i accidentally moved this to the bluegreen forum, ive put it back in BSR but im pretty sure it was posted in another forum instead as a sticky (perhaps newbies?) let me know so i can move it back to where it was before =)

tugbbs.com

 

[SNA27]

How do I PM you? Just attach the file on here?

You can do either. I have started a conversation with you. You can respond to it or post the information I had enumerated right here.
.pdf files can be attached in either place. If you're computer savvy, you can selectively hide personal details you don't want to disclose. There are many ways to do it.

Time is of the essence. You must respond in real time or somewhat more promptly than you have been doing so far.
Remember, the Rescission clock is ticking and it's counting down to zero inexorably. No excuses, grace periods or extensions or extenuating circumstances. You must act with alacrity.

You have $11,000 to recover from your latest transaction and I guess similar big amounts from last month's transaction. You have only 60 days to contest CC charges. If you're open to foreclosure and letting them take what they shouldn't have sold you in the first place, there is no need to gift-wrap it 1000s of dollars. There's no deficiency here. They get their real property back. Selling expenses on their part could be claimed as a deficiency. But, that's not worth their time so they will never even bother and would not prevail even if they did, imo.

 

[BilWil]

I also just realized that the contract from November in Atlantic City says that I'm married, and I'm not. I wonder would that make that contract mull and void?

 

[SNA27]

That's a different battle which you will probably lose.
You have a rescission and down payment recovery at hand both of which require your immediate attention.

 

[Grammarhero]

@BilWil Thank you for providing this information. Unfortunately, you might not qualify for anti-deficiency treatment as your Wyndham TS are in NJ and DE (PVTO). We have four (4) reports of tuggers who defaulted on Wyndham TS. Two defaulted on Wyndham loans. None got reported to the credit agencies or faced a loan. However, he situation is different.

 

[Grammarhero]

I also just realized that the contract from November in Atlantic City says that I'm married, and I'm not. I wonder would that make that contract mull and void?

Okay. We know that the NJ TS has deficiency treatment. Looks like the CWA, with the PVTO being located in DE, also has deficiency treatment. Looks like OP's screwed in this aspect.

 

[Grammarhero]

That's a different battle which you will probably lose.
You have a rescission and down payment recovery at hand both of which require your immediate attention.

Laws of NY and NJ are different. In NY, you'd lose with that argument, as a nonmaterial error.

 

[SNA27]

@BilWil Thank you for providing this information. Unfortunately, you might not qualify for anti-deficiency treatment as your Wyndham TS are in NJ and DE (PVTO). We have four (4) reports of tuggers who defaulted on Wyndham TS. Two defaulted on Wyndham loans. None got reported to the credit agencies or faced a loan. However, he situation is different.

I doubt that caution prevents OP from being forthcoming. I suspect he is overwhelmed by all the contract nonsense. He should just take a deep breath and gather all the facts first before desperately looking for a solution. It's much simpler to make the right decision when one has all the facts.

Correct diagnosis is difficult when a patient is not able to coherently describe what ails him and all his symptoms. A kind of paralysis!

When in deep trouble, one must fight paralysis and keep a cool head and rely on facts. I always like to remind myself that my troubles are nothing compared to what countless millions face on a daily basis. That helps to focus my mind. Just some friendly and worldly advice.

 

[Grammarhero]

Deleted.

 

[Grammarhero]

I also just realized that the contract from November in Atlantic City says that I'm married, and I'm not. I wonder would that make that contract mull and void?

We hope that you are well. If you made the difficult decision to default, would you kindly let us know or PM me as to whether your credit got affected? The information would help TS owners moving forward.