Rescind Strategy?

[Izzy13]

Hey everyone,

I’m new here and was wondering if anyone could help me out with a question I had about rescinding. I recently was hard sold into platinum from my gold membership even though I really didn’t want to do it. Those sales people got to me with the “you can rent it and do gift card exchanges to pay things” even as I was trying to back out :/. I unfortunately am past my rescind period, but have been bothered a couple times lately by the telemarketing division to go up to diamond. If I were to have them combine my current deed that combined my previous purchases minus one that I’m still paying off into a new upgrade to diamond and then rescind within the time period, would I get all the money that was “equity” from the paid off purchases (which effectively becomes the down payment for the upgrade) paid back to me?

I’m looking to jump ship because I’ve not liked Bluegreen as of late and recently discovered the resale points here. Plus I end up using club wyndhams more often through RCI anyways, so I figured I would purchase some club Wyndham and worldmark points resale for better deals because perks can essentially be nullified by the lower price per point. Plus, since there would still be one deed active with Bluegreen for a small amount of points, I can still use the bonus time even if I got some resale points.

Thoughts on if this strategy will work are welcomed and appreciated!

 

[rickandcindy23]

If you haven't been happy with it, why did you let them talk you into more? How many days are you past your rescind period?

 

[sponger76]

Hey everyone,

I’m new here and was wondering if anyone could help me out with a question I had about rescinding. I recently was hard sold into platinum from my gold membership even though I really didn’t want to do it. Those sales people got to me with the “you can rent it and do gift card exchanges to pay things” even as I was trying to back out :/. I unfortunately am past my rescind period, but have been bothered a couple times lately by the telemarketing division to go up to diamond. If I were to have them combine my current deed that combined my previous purchases minus one that I’m still paying off into a new upgrade to diamond and then rescind within the time period, would I get all the money that was “equity” from the paid off purchases (which effectively becomes the down payment for the upgrade) paid back to me?

I’m looking to jump ship because I’ve not liked Bluegreen as of late and recently discovered the resale points here. Plus I end up using club wyndhams more often through RCI anyways, so I figured I would purchase some club Wyndham and worldmark points resale for better deals because perks can essentially be nullified by the lower price per point. Plus, since there would still be one deed active with Bluegreen for a small amount of points, I can still use the bonus time even if I got some resale points.

Thoughts on if this strategy will work are welcomed and appreciated!

Nope. They would only refund any cash/check/credit card charges used as down payment for the newest purchase, and you would retain the previous deeds. The transfer of those previous deeds to BlueGreen would not be completed until after the recission period, so they would just halt the process. The previous contracts for those deeds would still be in effect, and you would still owe any MFs or mortgage that was outstanding.

 

[Izzy13]

If you haven't been happy with it, why did you let them talk you into more? How many days are you past your rescind period?

They essentially said that many owners had the same issues as I did and that was why they were introducing diamond. They also said that platinum members would be grandfathered into diamond benefits since they were at the top tier of benefits when diamond benefits would be released. So they essentially upsold me to fix my problem.

Today is 14 days after the rescind period closed.

 

[Izzy13]

Nope. They would only refund any cash/check/credit card charges used as down payment for the newest purchase, and you would retain the previous deeds. The transfer of those previous deeds to BlueGreen would not be completed until after the recission period, so they would just halt the process. The previous contracts for those deeds would still be in effect, and you would still owe any MFs or mortgage that was outstanding.

I figured that may be the case. Thanks for the answer!

 

[Izzy13]

If you haven't been happy with it, why did you let them talk you into more? How many days are you past your rescind period?

Reading deeper, I found an equity trade addendum that has a period of 20 days to notify of rescission so I sent off a letter stating that I was rescinding my equity trade. Hadn’t caught that one before so I’m happy I was reading through everything again to see if I had missed anything.

 

[Passepartout]

Reading deeper, I found an equity trade addendum that has a period of 20 days to notify of rescission so I sent off a letter stating that I was rescinding my equity trade. Hadn’t caught that one before so I’m happy I was reading through everything again to see if I had missed anything.

First I've heard of this. I hope your procrastination doesn't cost you dearly. They might not give up this sale without a fight.