Sticky - Hilton Vacation Club / DRI now accepting deedbacks - Give back your HGV/Diamond Resorts Timeshare

[jenniflg]

Matilda, they usually do not respond to emails. You have to call 877-497-7521, option 1 English, then 3 is direct to Loss Mitigation. Call frequently.

 

[Bill4728]

We are currently keeping our CI pts even with the DRI takeover. BUT Last year before DRI take over, resale CI points were still selling for a bit of money. So maybe anyone with CI can still sell their CI pts on the open market.

Had confirmation a couple of weeks ago that some sales occurred at $30usd per point with no ROFR on the part of DRI.

So that tells me, if you want to sell Club Intrawest points you should be able to sell them for around $30/pt (instead of the almost $200/pt that CI wants)

 

[MarkGH]

US only?

Hi,

Just found this most interesting thread and was wondering if this hand back applied to the US only?

I own DRI points in the European Collection and am looking to get rid of them so this would be ideal - but does anyone know if this would work for me in the UK?

 

[TUGBrian]

yes, this particular program only applies to US collection weeks.

I believe the fee is much larger for giving back EU collection weeks, and not all are eligible.

 

[evelia8]

Diamond International/MGV Timeshare Question (paid-off).

Hi, Does anyone know what happens if one just lets the timeshare go and not pay the maintenance fees? I know it goes into collections, then foreclosure, but does it get reported to the 3 credit bureaus and ruins your credit? I'm just asking because I have tried to surrender my DRI/MGV Timeshare with Mitigation Loss since Oct., 2015 and they sent me a decline letter stating that I need to sell or transfer it, but I wasn't current on my MF's at that time. I will try this below and see what happens. Does anyone out there own Monarch Grand Vacations (MGV) now owned by Diamond Int'l (DRI)? Please post the answer. Thank you all!

The financial dept apparently Voluntary Surrender Program:

In order to qualify, the HOA (MFs) must be up-to-date and the owner must have a zero balance on the loan.

To start this process, the owner must send an email to: lossmitigation@diamondresorts.com and or leadcollector@diamondresorts.com with the subject line stating: Inventory Takeback.

In the email itself the owner must include:
-Resort Name
-Owner(s) Name(s)
-Account Number
-Inventory owned (ie. weeks, points, etc)
-any other important information regarding the deed

within 7-10 business days, the Diamond Resorts will send an action required correspondence, where the owner will have 15 days to return.

Note: the owner is responsible for any fees associated with the paper work, such as notary, postage etc.

Edited to add phone number: You can call 877-497-7521, option 1 English, then 3 is direct to Loss Mitigation.

 

[riverdees05]

For DRI to take a deed back, one has to be current on all fees. To have a chance to give it away, you at least have to be current on all fees. If you do nothing and let it go into collections, then foreclosure, it will get reported to the 3 credit bureaus and impact your credit rating.

 

[mickeymouse]

Monarch Grand Vacations (MGV)

First of all, I want to thank all of you for steering us in the proper channel to eliminate our timeshare. We have been a timeshare owner for 22 years and have enjoyed most of our various experiences. However, we would like to now go in another direction.
We have spoken to 3 sales companies, read as much as possible in regards to timeshare selling on the web, looked at various sites, spoken to friends and have come to the sad conclusion that our 2 bedroom annual former I.I. 5 star resort before Diamond took over, is going to be a hard sell (if at all).

I called Diamond but as you well know, they will not buy it back even at a low price plus demands a $250 transfer fee upon sale; you think they would absorb that as a thank you. The representative suggested EBay.
By good fortune, I bumped into the Tug BBS web site and read all you have posted, including how to start the process of a deed back.
We followed your suggestion and sent the email. I did not provide a reason. A quick response stated we would hear back in 1 to 2 days. Nothing. Again I followed your Loss Mitigation information and placed a phone message. A call back came the next morning and after a short discussion, I was told I had to pay a charge that has not even been billed: the last 2016 maintenance fee.
Without paying this fee ahead of time, my request will be denied and we will have to start over. The process time should take 45 days. I hope they don't stall it out to 2017.

And by the way, the representative didn't know much about the Apollo transaction, even said Diamond was acquiring Apollo---just the opposite---and said that 'it will still be Diamond.' I don't believe Diamond is informing the low level employees about the shake up.

Even though our decision is depressing, we're grateful for this blog.

 

[fluke]

Hi,

Just found this most interesting thread and was wondering if this hand back applied to the US only?

I own DRI points in the European Collection and am looking to get rid of them so this would be ideal - but does anyone know if this would work for me in the UK?

The European collection has had some sort of "surrender" program that has run continuously. It is because of the more stringent consumer protection laws in the European countries. I know for years I had seen it referenced on both the DRI Facebook page and the online forum on the DRI website. In fact a few years ago as a US collection member you could pay a fee to transfer to Euro collection and then surrender your points.

I would check out the Facebook site and DRI's official forum. A lot of European owners on both.

 

[evelia8]

Thank you for answering my question. I will try to give it away or give it back to DRI again. Thank you!

For DRI to take a deed back, one has to be current on all fees. To have a chance to give it away, you at least have to be current on all fees. If you do nothing and let it go into collections, then foreclosure, it will get reported to the 3 credit bureaus and impact your credit rating.

 

[kalima]

If I surrender my points account can they cancel my deeded week booking?

Hi everyone!....if I were to cancel my points account....there is a note in there that says that all bookings will be cancelled upon surrender etc...can they cancel my deeded week booking that i have for this year? I highly doubt it but don't want a hiccup as everything is booked/flights etc....wondering if I should wait to return the docs until after our trip? Would really like to just get this done soon as well though....has anyone else with a deeded week handed back their points account that can let me know what happened? My deeded week is totally different than my Points and is only in my name...the points are in joint names. Thank you

 

[riverdees05]

I had heard that if you had weeks booked at your home resort (my two weeks were deeded weeks) that you would loose them. Before I started the deedback work, I reserved my two weeks and then deposited them with II. I had paid the maintenance fee. It took 9 months for the process, but they did take my two weeks and didn't try to take back the weeks from II.

 

[Michelle14]

I am done

Found this awesome site on June 28th - sent my email and they responded fairly quick by stating that my 4th quarter maintenance dues that were normally due in October had to be paid in full - paid those the same day - said paperwork would be sent in 10 business days - it was definitely longer than that but they did come. Had the paperwork notarized and sent back - received an email on 8/29 that as of 8/22 the transfer was complete! Thank you so much for posting all this info - we were very close to contacting a company to help us get rid of it.
I sleep much better now.

 

[Quimby4]

Sent an email last week.
Got this email this morning.

Thank you for the email. We have reviewed and approved the request. We will have the Title Company prepare and mail the surrender paperwork. The transaction is being processed. We thank you ahead of time for your patience during the Surrender process.

Dora Barrera | Financial Services Title & Recording Department | Diamond Resorts International® | Tel: 877.497.7521 | Fax: 702.240.0638

Vacations for Life® | Stay Vacationed.™


Im not really sure why I am doing this...I actually have had great luck trading it with II. I am just afraid that II will dry up someday or is it the hassle of of trying to book and trade.
Oct 1st I can book my 2017 week. Can I book that and deposit it with II? Will I get to keep it?

 

[sssung]

Found this awesome site on June 28th - sent my email and they responded fairly quick by stating that my 4th quarter maintenance dues that were normally due in October had to be paid in full - paid those the same day - said paperwork would be sent in 10 business days - it was definitely longer than that but they did come. Had the paperwork notarized and sent back - received an email on 8/29 that as of 8/22 the transfer was complete! Thank you so much for posting all this info - we were very close to contacting a company to help us get rid of it.
I sleep much better now.

Hi Michelle14, was your ownership deeded or points?

 

[sssung]

Sent an email last week.
Got this email this morning.

Thank you for the email. We have reviewed and approved the request. We will have the Title Company prepare and mail the surrender paperwork. The transaction is being processed. We thank you ahead of time for your patience during the Surrender process.

Dora Barrera | Financial Services Title & Recording Department | Diamond Resorts International® | Tel: 877.497.7521 | Fax: 702.240.0638

Vacations for Life® | Stay Vacationed.™


Im not really sure why I am doing this...I actually have had great luck trading it with II. I am just afraid that II will dry up someday or is it the hassle of of trying to book and trade.
Oct 1st I can book my 2017 week. Can I book that and deposit it with II? Will I get to keep it?

Once your reservation is confirms with II, it will not be taken away.

 

[donnaval]

Oct 1st I can book my 2017 week. Can I book that and deposit it with II? Will I get to keep it?

You will have to pay your 2017 maintenance fees.

 

[Quimby4]

Oct 1st I can book my 2017 week. Can I book that and deposit it with II? Will I get to keep it?

You will have to pay your 2017 maintenance fees.

Since I have EOY usage I think it makes sense that I should pay 2017 for the week since I already technically paid for 1/2 of it in 2016? Is my thinking correct?

Thank you

 

[donnaval]

Sorry, I don't know how it would work for an EOY unit - the unit I turned back was an annual use, and I had already paid the MFs and deposited the 2015 unit before deeding back the TS. My guess is that since you've already paid 1/2 of the fee, they would not object to your paying the balance and using it, but you would be best advised to check with Diamond directly.

 

[HudsHut]

If one owns a fixed week at Bryan's Spanish Cove, and this resort is now listed on Diamond Resorts' website, does the fixed deed qualify for deedback?
https://www.diamondresortsandhotels.com/Resorts/Bryans-Spanish-Cove-Orlando

Just heard back from our friend. Diamond has accepted the Bryan's Spanish Cove fixed week as a deedback.

Hurray!

This is the DRI contact name from whom the reply email came:
Dora Barrera | Financial Services Title & Recording Department | Diamond
Resorts International® | Tel: 877.497.7521 | Fax: 702.240.0638

 

[Bill4728]

I believe that this seems to be DRI current policy on current points or reservations with deedbacks

If you deed back your TS ownership ( points or weeks) you lose all points or reservations that are under DRI's control. BUT if you have deposited your week into II OR used your points to make a II exchange, that is now under II control and you do not lose them when you deed back your week.

Hope this helps

 

[lrbowers]

DRI Point Takeback

Does anyone know if this takeback program is still available from Diamond International?

Thanks,
John

 

[TUGBrian]

yes, send an email to the address in the very first post in the thread to get started.

 

[Makai Guy]

evelia8 has sent us the following email:

Here is the information regarding the surrender of a Diamond/MGV Timeshare for anyone that is having the same problem that I had. Please post in the DRI forum. Thank you so much!


-------- Original message --------
From: Loss Mitigation <LossMitigation@diamondresorts.com>
Date: 9/8/16 9:30 AM (GMT-08:00)
To: [redacted]
Cc: [redacted]
Subject: Re: [Ticket#2016090210001225]

Thank you for your email pursuant to your request for information on our voluntary surrender program. There is no compensation. To be eligible for this program, you must meet all of our requirements listed below:

• Loan MUST be paid in full
• Maintenance fees and/or club dues MUST be current
• Resort MUST be on DRI approved list for surrender
• $250 processing fee per contract - due upon execution of the paerwork.

 

[ElaineA]

Gag order

Did anyone notice the wording in the paperwork? Essentially it is a gag order. I guess they don't want to be flooded with a lot a deed backs.

 

[sssung]

Did anyone notice the wording in the paperwork? Essentially it is a gag order. I guess they don't want to be flooded with a lot a deed backs.

Seriously? So this is not suposedto be discussed here afore the paperwork is signed?