Ridding ourselves of our TS

[Godfrey]

We have owned our TS (one of Diamond Resorts) for 16 years. Now we are old and don't travel. They will not take the Deed back. Should we stop paying maintenance?

 

[LannyPC]

You could stop paying MFs. You might face a lot of collection calls and letters and perhaps a mark on your credit rating, but eventually the resort will probably foreclose.

Have you checked out the sticky thread in the Diamond section about its Transitions program:

https://tugbbs.com/forums/threads/s...e-back-your-diamond-resorts-timeshare.224859/

You can also try giving it away here in TUG's Bargain Deals section:

https://tugbbs.com/forums/threads/how-can-i-give-away-my-timeshare-on-tug.132509/

Diamond might not be taking your back if you got it resale or second-hand.

Just remember not to contact any of these companies, law firms, or charities that claim they can exit you from your TS.

 

[T-Dot-Traveller]

We have owned our TS (one of Diamond Resorts) for 16 years. Now we are old and don't travel. They will not take the Deed back. Should we stop paying maintenance?

I see you list Point at Poipu / a Hawaii location

Diamond may (currently) be saying no to a deed back because of the Covid / travel issue since Hawaii has required a 14 day quarantine for incoming visitors and more / etc. ( see thread - Will Hawaii reopen Oct 15 ? )

You may wish to be more specific on your ownership details - unit size / fixed week / points so that a TUG member could give you more assistance specific
to your resort & it’s location in Hawaii.

 

[Godfrey]

You could stop paying MFs. You might face a lot of collection calls and letters and perhaps a mark on your credit rating, but eventually the resort will probably foreclose.

Have you checked out the sticky thread in the Diamond section about its Transitions program:

https://tugbbs.com/forums/threads/s...e-back-your-diamond-resorts-timeshare.224859/

You can also try giving it away here in TUG's Bargain Deals section:

https://tugbbs.com/forums/threads/how-can-i-give-away-my-timeshare-on-tug.132509/

Diamond might not be taking your back if you got it resale or second-hand.

Just remember not to contact any of these companies, law firms, or charities that claim they can exit you from your TS.

 

[Godfrey]

Thank you. Yes, we did try Transitions...no dice because we bought on the secondary market.
Have posted on the Give-away section

 

[Passepartout]

If you are older and not traveling and you are not planning any major purchases in the foreseeable future, stop paying. You might get some collection letters, but that's about it. Eventually they'll foreclose. If they put a negative report on your credit, you have the right to rebut it. If you actually hear from Diamond first, tell them it's their choice- you've made up your mind.

 

[Grammarhero]

Thank you. Yes, we did try Transitions...no dice because we bought on the secondary market.
Have posted on the Give-away section

@Godfrey if it helps, out of 3 DRI defaults reported on TUG, one got reported to the credit agencies. I posted the links below.

If you make the difficult decision to default, please kindly let us know if your credit got affected. It would help tuggers in similar situations moving forward.

https://tugbbs.com/forums/threads/a...fees-what-happened.296893/page-7#post-2385548

https://tugbbs.com/forums/threads/what-about-foreclosure.292303/page-2#post-2378562

https://tugbbs.com/forums/threads/what-about-foreclosure.292303/#post-2320226