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

[TUGBrian]

Thank you for confirming they are at least taking back some MGV intervals as well!

 

[bogey21]

My advice is if you are interested, be the hare, not the tortoise and get it done quickly. They can always change their mind and cut it off.

George

 

[Bill4728]

As of this morning, my DRI account is saying that it is no longer active.

I sent the email to DRI on March 19th
Got a letter from them on March 27th
Sent the signed and notarized paperwork and check for $250 on Mar 30th
Check cashed April 20
Completed April 23

So from start to finish just over 34 days.

 

[TUGBrian]

I have to say, just over 30 days and $250 is far better than I expected for a program like this from a major developer!

 

[T_R_Oglodyte]

I have to say, just over 30 days and $250 is far better than I expected for a program like this from a major developer!

As I've commented previously, I've long thought deedback programs were an inevitability. When someone offers you something for free that you can sell for $50,000, it would be stupid not to take them up on the offer.

 

[Macroy]

Got the rejection notice tonight...

"We have received your request to relinquish your ownership at XXXXXXXXXX. After review and consideration, your request was denied as
neither the management company, nor the developer, is taking back ownership within the Association at this time.

You may sell your timeshare once you locate a buyer privately or through a
reputable third party company that will assist you with completing the
transfer of ownership or obtain the services of a reputable real estate
office. Please note that prior to transferring ownership of the property, all
loan repayment and maintenance fee obligations must be satisfied as well as
any additional fees owed to the Association.

Until such time as your timeshare is sold, you remain contractually obligated
for payment of fees in accordance with the terms contained in the original
agreement."

No mortgage, no outstanding HOA Dues...

Anybody else got rejected too?

Not quite rejected - But looks like I got the run around. I specifically indicated that I wanted to participate in the voluntary surrender program. It took them about a month to respond, and I got the following.

Thank you for your email. First and foremost, we apologize for the delay in
response. Secondly, while we are saddened to hear that your ownership is not
working out for you and that you are considering selling or relinquishing your
ownership, we do understand that life circumstances can, and do, often
necessitate change and understand that this is not for everyone.
Unfortunately, Diamond Resorts does not have a buyback, resale program
available. Also please be advised that neither the management company, nor the
developer, is taking back ownership within the Association at this time.

You may sell your timeshare once you locate a buyer privately or through a
reputable third party company that will assist you with completing the
transfer of ownership or obtain the services of a reputable real estate
office. Please note that prior to transferring ownership of the property, all
loan repayment and maintenance fee obligations must be satisfied as well as
any additional fees owed to the Association. Until such time as your
timeshare is sold, you remain contractually obligated for payment of fees in
accordance with the terms contained in the original agreement.

If you are unable to successfully sell your timeshare, we can look into the
possibility of a voluntary surrender; this option is on a case by case basis
only. You must submit a hardship letter detailing why you are unable to keep
the property. Your 2015 fees must be current; your loan must also be paid in
full to exercise this option. There is also a $250.00 processing fee per
contract. Once we verify your account is current a request for a voluntary
surrender can be submitted and you will be contacted once a final decision has
been reached.

Best Regards,

Deeded at Sedona Summit - but part of TheClub. The original email was sent to lossmitigation@diamondresort. com

I didn't provide any details on why I wanted to surrender. So perhaps they just looked at it as a request for "buy back" - even though in my email I said "voluntary surrender". I just assumed that would be discussed later. I'll respond with more details.

For those that were successful - you didn't have to provide actual financials info did you?

 

[bogey21]

I know others disagree but I don't send emails or write. I call, and call back multiple times if necessary. It is too easy to get a canned response when you email or write. It was a couple of years ago and although it took a lot of calling I was able to Deed Back Weeks at 5 different Resorts exclusively by calling.

George

 

[TUGBrian]

I would most certainly keep sending the emails....it costs nothing for you to do so.

Id also mention that you have been contacted by various "rescue" companies who claim they can rid you of your timeshare but were hoping that since you have been a content paying owner with DRI for so long, you would just prefer to give it back to them.

ham it up...clearly they have set rules in place where some intervals dont make the cut...so you have to convince them!

 

[john2870]

Still have not received anything from DRI. We sent an e-mail request a couple weeks ago.

 

[hartofil]

Just got my letter in the mail yesterday. Now to send the check and wait. I have to admit I'm a little nervous about sending money anywhere... Always afraid it's a scam. Any way to make sure?

 

[TUGBrian]

yes, you should be dealing directly with DRI...not a separate company

 

[dontfret]

is there light at the end of the tunnel

I happened to run across this thread by good luck or good fortune yesterday. Immediately sent in my request, got the robot email assigning a case number, and followed up with a phone call to the loss mitigation office. The service agent said that they are swamped with requests and getting 300 a day to sort out. I asked her to look up if my DRI points ownership in Monarch Grand Collection (which is the correct term for us MGV owners) was eligible. She said it was a 99% certainty it would be accepted for surrender. I've learned not to get my hopes up, but at the same time it looks like there may be way out of this. I also am beginning a conversation with timeshare exit team, but will go slow for at least 3 weeks to see what happens here. Thanks TUG BBS for having this forum and I will pray for us all that those who want out, get out

 

[TUGBrian]

300 a day? I think thats a bit much.

 

[dontfret]

300 a day? I think thats a bit much.

I may have misunderstood if the 300 refereed to the number of properties or the number of requests, but she did say 1. they are swamped, don't expect to hear back from them for a few weeks, and 2. she believes they will allow MGV voluntary surrenders.

 

[dontfret]

Good news in today's email!!!!!

Hope springs eternal!!! Got this 2 days after the automated reply that my request to surrender my MGV/DRI points had been received and assigned a file number:

...........................................................................................
Dear Richard xxxxx,

Per your request, I have prepared a Mutual Release Agreement, which will allow you to surrender your ownership back to Diamond Resorts. This document along with a return envelope is being mailed to you at the address we have on file.
The fee for this process is $250 per contract. Should you have any further question regarding the surrender of your ownership please feel free to respond to this email.

Thanks,
Suzanne
.............................................................................................

Also, anybody have a guess why I can now, for the first time ever, reserve the prime New Years Eve nights at Las Vegas Cancun resort? This was always blocked from Dec 20 to Jan 2, now shows full availability to reserve. Just seems 'something's up' with DRI - perhaps they are allowing surrenders to shrink a potential class action, or just want to be able to re-sell the time at retail? I'm not going to worry much, just take the offer if/when it comes and run to the nearest notary :rofl:

 

[dontfret]

Bill - great news for you, and I hope I am on the same path. Was the paperwork you received a Mutual Release Agreement? After getting the automated reply my request was received, I got a second email from inventory@diamondresorts that they will accept my voluntary surrender and are sending me a MRA by mail. Just wanted to confirm this is the pot of gold at the end of the rainbow ...

 

[PatJones]

Sent e-mail twice, to both lead collector and loss mitigation, unable to connect with destination server. Any idea what else I could do.

 

[PatJones]

Its worked this time

Jumping for joy. I got e-mail wrong, added a s after diamond so my e-mail address was wrong, what an idiot, will be more careful from now on. Got a reply with ticket number, they will be in touch within 2/3working days. Hope this is the start of good news.

 

[Bill4728]

Hope springs eternal!!! Got this 2 days after the automated reply that my request to surrender my MGV/DRI points had been received and assigned a file number:

...........................................................................................
Dear Richard xxxxx,

Per your request, I have prepared a Mutual Release Agreement, which will allow you to surrender your ownership back to Diamond Resorts. This document along with a return envelope is being mailed to you at the address we have on file.
The fee for this process is $250 per contract. Should you have any further question regarding the surrender of your ownership please feel free to respond to this email.

Thanks,
Suzanne

Yes I got something like that but not by Email. Just received a letter in the mail.

Yes, they are taking back your TS.

Also, anybody have a guess why I can now, for the first time ever, reserve the prime New Years Eve nights at Las Vegas Cancun resort? This was always blocked from Dec 20 to Jan 2, now shows full availability to reserve. Just seems 'something's up' with DRI - perhaps they are allowing surrenders to shrink a potential class action, or just want to be able to re-sell the time at retail? I'm not going to worry much, just take the offer if/when it comes and run to the nearest notary :rofl:

Be aware any pending reservation will be cancelled when they take back your TS. The only think that doesn't get taken back are II exchanges.

 

[dontfret]

Be aware any pending reservation will be cancelled when they take back your TS. The only think that doesn't get taken back are II exchanges.

I wasn't going to make any reservations - just noticing that for first time inventory was made available. Read elsewhere DRI announced a long-term alliance with II, and also DRI is changing their business model to improve shareholder profit and boost stock price. Getting away from hotel/resort management, concentrating on TS sales. Perhaps the surrender program is to get more inventory back into the sales office, improves cash flow. Our TS holds back inventory as it has to be available for us -they can't sell 120% of inventory (unlike Max Bialystock in "The Producers"). We surrender, they can sell it again for $12K.

 

[madness999]

Any notice sent from DRI?

As of this morning, my DRI account is saying that it is no longer active.

I sent the email to DRI on March 19th
Got a letter from them on March 27th
Sent the signed and notarized paperwork and check for $250 on Mar 30th
Check cashed April 20
Completed April 23

So from start to finish just over 34 days.

Hi Bill - this is great news. I sent the email on April 16th, and just sent the completed notarized paperwork and check yesterday. I'll be watching my account on DRI and to see if my check is cashed.

Did you receive any official notification from DRI that the transaction was complete? Or did you only know because you were tracking the check or your account on DRI yourself?

Thanks,
Gary

 

[Bill4728]

Hi Bill - this is great news. I sent the email on April 16th, and just sent the completed notarized paperwork and check yesterday. I'll be watching my account on DRI and to see if my check is cashed.

Did you receive any official notification from DRI that the transaction was complete? Or did you only know because you were tracking the check or your account on DRI yourself?

Thanks,
Gary

I did not receive any notification from DRI. Just the check and DRI account.

 

[pgnewarkboy]

Just got deeds - question on execution

I just got my deeds to transfer back to Diamond. A question on execution of the deeds. My timeshares on not in my home state. When signing the deeds I assume the date of signing is filled out and my local notary signs and uses seal no matter that the deeds themselves reference the state where they are located. Thanks.

 

[dontfret]

my timeline

Saw this thread 4/23, sent request to loss mitigation to voluntary surrendar 327 Monarch Grand points, 9810 DRI.
4/23 got immediate autoreply that a case number was assigned
4/26 got personalized email that Mutual Release Agreement was being mailed to me
4/30 got paperwork in mail, signed and notarized and returned to DRI.

now waiting. requested by email a copy of the fully executed agreement be returned to me after DRI/MGV signing to confirm surrender. I will post when completed here to give others my expereince.

Thanks tugbbs for sharing with me the way out of this rabbit hole

 

[boba2]

Damn DRI...and damn my impatience and anxiety...and damn myself for ever making the worst purchase of crap in my entire life for buying MGV timeshare.

01/2015 - I started the process for Donate for a Cause for $3500 to get rid of my 72 pt MGV timeshare because it was to my knowledge that NO COMPANY was gonna take back timeshares at the time. DFC may have played me or maybe they didn't but they did offer a way out for a 3rd party to take my MGV points at the time so I bit into it without hesitation.
03/2015 - When I received the papers in March to who was buying my MGV points, to my surprise it was DRI. It was a well written contract too but I didn't think anything of it and just signed it since it was my way out.
04/08/2015 - Papers were sent to DRI and now waiting. I was told 4-6 weeks until they close out my account so it may be this coming week for me as someone stated earlier that it took 30 days to close. I will update.

Now I find this thread that they are taking it back on a whim which explained the contract I signed GAH!!!!!!! If I waited 2 months...I would have only been out $250 instead of $3500!!!!!! There are absolutley no words to express how I feel right now. Not even cute bunny meme can stop me from punching a cute bunny right now!!!