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

[TUGBrian]

Very unfortunate that you chose to "donate"...we here at TUG would have pointed out the horrible idea of donation of a Timeshare back in january if asked.

Certainly hope you dont try to take the claimed "tax writeoff"!

http://www.tug2.net/timeshare_advice/can_I_donate_my_timeshare_and_get_a_tax_deduction.html

 

[bogey21]

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.

Patience is essential when divesting TS Weeks. It took my almost 3 years to get rid of Weeks at 6 different Resorts. In the interim I rented them, used them, let friends use them, etc. My dispositions included sales, donations to legitimate charities (not doable anymore), deed backs and giving away. In the interim I paid MFs. On the other hand the most I paid otherwise was $150.

George

 

[boba2]

Very unfortunate that you chose to "donate"...we here at TUG would have pointed out the horrible idea of donation of a Timeshare back in january if asked.

Certainly hope you dont try to take the claimed "tax writeoff"!

http://www.tug2.net/timeshare_advice/can_I_donate_my_timeshare_and_get_a_tax_deduction.html

Yup, understood about donations but again I saw no other way out at the time. I definitely am not looking for a tax write-off as I perceived there is no value in MGV timeshare anyway. Nobody wants it! That itself told me there's no value. I basically just wanted to cut the MF bleeding even if it meant 10 years for it to payback.

I did post my timeshare for take in the bargains section in 2014 and nobody was interested. I tried craigslist and nobody was interested in less than a week timeshare. I actually started actively trying to get into DFC's program in 2014 but they kept saying the 3rd party that took em were always full. So Jan 2015 was the 3rd try to get into DFC's program so I just went forward with that.

 

[boba2]

Patience is essential when divesting TS Weeks. It took my almost 3 years to get rid of Weeks at 6 different Resorts. In the interim I rented them, used them, let friends use them, etc. My dispositions included sales, donations to legitimate charities (not doable anymore), deed backs and giving away. In the interim I paid MFs. On the other hand the most I paid otherwise was $150.

George

I wish you were my guiding hand last year. If I knew someone with experience in the matter then I probably would have been as patient as you.

DRI likes to scare people also. I went to one of those "update" meetings in 2013 for DRI and the rep basically told us that MGV owners were like bastard childs rolled into DRI. He basically tried to tell us that our MGV pts will be useless in the near future and DRI is actually trying to acquire all MGV portions. He told us the only way out was to basically buy WHOLE NEW TIMEMSHARES under DRI! Can you believe that!? At the time, the rep told me they were in the 40 percentile range in 2013 in converting MGV owners to DRI. I feel bad for all those people who bought new DRI timeshares because of this scare tactic so at least I came out ahead of them.

 

[dontfret]

I also contacted DFA in 12/2014 for my 327 MGV points and was told, as I'm sure you were, that my TS had no charitable value but they could find a taker for around $3500 upfront (they actually said the funds would be deposited to escrow pending closing, but they are their own escrow and I never expected to see it again). I passed, then ran across this thread recently as I check in here about every 3 months to see if anyone had been successful in either surrendering or mounting a class action suit. Consider yourself lucky in that you actually will be divested of this mess even if you overpaid DFC, I imagine most DFC cases don't have even this happy an ending, the only way out is if DRI takes it back and DFC just happened to find this exit strategy for you.

 

[dontfret]

I wish you were my guiding hand last year. If I knew someone with experience in the matter then I probably would have been as patient as you.

DRI likes to scare people also. I went to one of those "update" meetings in 2013 for DRI and the rep basically told us that MGV owners were like bastard childs rolled into DRI. He basically tried to tell us that our MGV pts will be useless in the near future and DRI is actually trying to acquire all MGV portions. He told us the only way out was to basically buy WHOLE NEW TIMEMSHARES under DRI! Can you believe that!? At the time, the rep told me they were in the 40 percentile range in 2013 in converting MGV owners to DRI. I feel bad for all those people who bought new DRI timeshares because of this scare tactic so at least I came out ahead of them.

I had the same pitch over the past 4 years since the MGV bankruptcy at several 'owners' meetings.' Very high pressure. After my last one in 8/2014 I filled out an exit questionnaire, said I was furious and would get rid of this crap for $1 or pay to have it hauled away. I got a call from DRI:annoyed: last week offering me 'an exit strategy'. My heart went pitter-pat until he spoke - that's when you know DRI reps are lying, their lips move. He repeated all the BS on MGV being worthless, and then offered to sell me 11,000 DRI points for $8,000 (what a bargain) which I could then sell on my own, as these which much more desirable!!!!!! I told him what I thought of his offer ... I bless this thread every day, hope to be done very shortly as DRI/MGV should be opening up my notarized paperwork today

 

[boba2]

I also contacted DFA in 12/2014 for my 327 MGV points and was told, as I'm sure you were, that my TS had no charitable value but they could find a taker for around $3500 upfront (they actually said the funds would be deposited to escrow pending closing, but they are their own escrow and I never expected to see it again). I passed, then ran across this thread recently as I check in here about every 3 months to see if anyone had been successful in either surrendering or mounting a class action suit. Consider yourself lucky in that you actually will be divested of this mess even if you overpaid DFC, I imagine most DFC cases don't have even this happy an ending, the only way out is if DRI takes it back and DFC just happened to find this exit strategy for you.

That's odd they would tell you that the fee is paid upfront...but I guess that might depend on the situation and timeshare at hand especially when MGV has no value. They even say on their website that no fees are due until closing. Although now I realize in the transfer process that the definition of paying the fee relative to final transfer is not really fully communicated. I paid the $3500 at closing as they stated, but that doesn't mean it's been fully transferred out of my name when I paid the fee. So I am out $3500 at the moment and still waiting for MGV to transfer out of my name. Again they said 4-6 weeks for it to process and I'm on my 4th week now. At least by finding this thread, I have some comfort in knowing with some confidence that DRI will uphold their end of the contract.

 

[dontfret]

I was also told by DFAC that they won't invoice me until closing - but they defined that as being when they located a taker, or they would take it themselves if they couldn't locate a willing taker. We had several email back and forth with me trying to clarify when they wanted the $3500, when I finally said it should be when they have a taker or themselves signing the MGV transfer form, they never responded again.

 

[tjnevers]

Diamond Resorts buyback

My wife & I just got back from a week at the Diamond Sedona Golf Resort. We bought a floating 1BR resale a few years back & use it every year & are happy with the deeded week that we have. Every time we go, they try to cajole us into a "owners update" re joining Club Diamond. Never saw any benefit because we bought this week to use & like having a deeded week rather than some Club points. Is Diamond only buying back TS's that are in their network, or will they be willing to take over my Sandy Point Beach Australia TS? I'm willing to let that one go for free....

 

[MarkC1957]

Just ran across this thread.

Started out as an MGV member with their CanCun property in Las Vegas. When DRI acquired the property, we simply wanted out. My wife and I proceeded to make the biggest mistake of our lives in buying into the Diamond Resorts International Platinum Club with 50,000 points. Life changes in the past few years have made it impossible for us to use the points in the way we would like to. I've sent the information to both the lossmitigation and leadcollector email addresses, and waiting to see what kind of response I get.

 

[MarkC1957]

Got a phone call today from DRI

Looks like the folks at DRI are asking for more than just the information about whatever points one owns. They've now asked that I submit a letter explaining why I want to surrender my points. That I have to convince management. Seems to me that dealing with the Financial Services Department is covered by this:

 

[Bill4728]

In my first email to them I gave some B##### reason for needing to give back my MGV pts

I think the key was saying that I needed to give them back.

 

[HB2015]

DRI deed back/ loss mitigation

Apr. 14 Read about the DRI deedback possibility on TUG
Apr. 15 Followed forum advice and emailed a request
Apr. 15 Ticket no. Received from DRI
May 8 Just received papers re transfer etc. Very excited and pleasantly surprised!!


Now to work my way through the legalese!

 

[bogey21]

Does anyone know what DRI is doing with all the Weeks they are taking back? They must have a plan or they wouldn't be doing it.

George

 

[artringwald]

Does anyone know what DRI is doing with all the Weeks they are taking back? They must have a plan or they wouldn't be doing it.

George

They'd love to convert all the deeded weeks into trust collections. Once a week becomes part of the trust, they collect the extra management fees for the trust (which means points owners are paying for it), and they get more complete control over the HOA's. I'm not sure why they would take back points unless their sleazy sales people are running out.

 

[nicknechita]

Deedbacks

I am greatful to TUG for the reliable source of information and the spirit of camaraderie.

I live in Canada, and on May 4 I sent an emai to DRI with automatic confirmation and ticket # in the same day.
On May 8, I received an email from DRI notifying me that they will accept my voluntary surrender.

I will keep you posted on the progress.

Regards,

Nick

 

[post-it]

I'm curious if this buy back is still taking place and did any one who had success have a current booking?

We leave for KBR in September with flights booked.

 

[Bill4728]

I'm curious if this buy back is still taking place and did any one who had success have a current booking?

We leave for KBR in September with flights booked.

All booking, deposits ect all go away if you take this deal. Sorry

 

[pedro47]

Have DRI taken back in properties deeds from Greensprings or Powhatan ?

 

[sunshinevalues]

We went to presentation at the Ridge in Sedona this week ( May 2015) the sales rep Jason and Robert thought some changes maybe coming to buy back our points. Apparently Diamond is trying to be full service travel agency similar to TripAdvisor???

 

[sunshinevalues]

Was told at Diamond presentation this week May 2015- that Diamond planning to add program to buy back points in future. Also next month adding travel section similar to trip advisor.. We only have 7000 points and use in Sdona which is our favorite place to visit!!
The tour escorted packages online now look competitive price wise using some points!!

 

[bogey21]

Was told at Diamond presentation this week May 2015- that Diamond planning to add program to buy back points in future.

If (when) they do, a lot of those who did Deed Backs and received nothing will be upset.

George

 

[post-it]

Has anyone heard if Ka'anapali Beach Club is part of this deeded take back?

 

[Bill4728]

Has anyone heard if Ka'anapali Beach Club is part of this deeded take back?

IMHO Ka'anapali Beach Club will positively be on the YES DRI will take it list

BUT I think Ka'anapali Beach Club is one of a few DRI resorts which still sell for real money. You should check into selling it.

 

[tidefan]

All booking, deposits ect all go away if you take this deal. Sorry

Bill,

We wouldn't lose our RCI trade that we traded our 2014 week for, would we?

I assume that RCI would have already let someone use that week, so I wouldn't think they'd cancel our upcoming July reservation...


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