We want to walk away from our [Wyndham] ownership and stop paying MF's. Consequences?

[warbucks2403]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

 

[jcraycraft]

WhT resort and how many points?
Did you try Ovations?

 

[dgalati]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

@Grammarhero maybe of help if you cant give back ovations.

 

[Passepartout]

I see that this is the first post by a new guest. Wyndham has a program, called Ovations, that enables owners who are current, and have paid in full memberships to return their ownership to Wyndham. Call Member Services for assistance.

Best Wishes.

Jim

 

[dgalati]

Wyndham Cares: Timeshare Exit & Assistance

Need help with your Club Wyndham ownership? Or, are you looking to sell or exit your timeshare? Wyndham Cares has you covered.

clubwyndham.wyndhamdestinations.com

Need Help?
Contact Wyndham Cares at 866-948-4690, Monday-Friday, 9 a.m.- 6 p.m. ET.

WYNDHAM CARES ABOUT YOU

Travel preferences and finances change. When they do, Wyndham Cares can help you maximize your ownership, navigate your finances, or figure out if timeshare is still right for you. Contact Wyndham Cares at 866-948-4690 or learn more about Ovation by Wyndham

 

[Grammarhero]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

You should try to give back via Ovations. There have been seven (7) reported Wyndham defaults reported on TUG, with two (2) getting their credit ranging from 50 points to 200 points.

[2015] About to Start the Foreclosure Process

The offer will be to cancel the debt for a percent of what you owe, 20%-30%. You were absolutely right! Spoke with Ron, nice guy. He gave 2 scenarios: pay 20% (equals about $6800. I told him if we had that much money, we would've never defaulted to begin with :annoyed: ). The plus side...

tugbbs.com

https://tugbbs.com/forums/threads/letting-timeshare-foreclose.293351/page-2#post-2316868

https://tugbbs.com/forums/threads/grandview-at-las-vegas-deedback-give-away-or-stop-paying-mf.299001/page-3#post-2372243 https://tugbbs.com/forums/threads/brand-new-tried-to-recind-1-day-late-any-advice.293818/page-2#post-2360423 https://tugbbs.com/forums/threads/rescission-not-being-honored.303588/ https://tugbbs.com/forums/threads/timeshare-default-credit-report-collection-tracking.304138/ Wickalar had a 200 pt drop. One Wyndham default was from PM, and I must keep that tugger's confidence.

 

[Passepartout]

Another thought is that being 85 and in declining health, How important is your credit rating, anyway? If you are not contemplating any large purchases, your home is paid for, and your heirs are advised to simply refuse the bequest of your timeshare(s) upon your demise, don't worry about paying any entity- including Wyndham- to erase your ownership.

You'll get some unpleasant letters, but they are basically toothless.

 

[Grammarhero]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

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

 

[jediinprescott]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

As mentioned by others...contact the Ovation folks.

 

[CalGalTraveler]

If Ovations is not an option. Where is your TS located? If it is located in deficiency state they could come after other assets until you pay. If TS is located in Florida, CA, South Carolina and a few other states there are anti-deficiency laws, you can walk and if you don't object to the foreclosure they simply take back the timeshare.

@Grammarhero has put together a state by state analysis here:

Links to Official State Timeshare Laws and Guides/Manuals

@TUGBrian @DeniseM @CalGalTraveler take a look. This weekend, I’m creating a spreadsheet with official links to states’ timeshare laws, as well as their statuses as to non-judicial, anti-deficiency foreclosures. In the meantime, I will just keep adding notes. * Legal Disclaimer: This list...

tugbbs.com

 

[Passepartout]

If Ovations is not an option. Where is your TS located? If it is located in deficiency state they could come after other assets until you pay. If TS is located in Florida, CA, South Carolina and a few other states there are anti-deficiency laws, you can walk and if you don't object to the foreclosure they simply take back the timeshare.

OP listed Atlantic City, New Jersey in Resort owned.

 

[CalGalTraveler]

Thanks. Didn't see that. Hope Ovations comes through since I don't think New Jersey is anti-deficiency. If they don't take this one back from someone who has owned a long time and is in good standing then Wyndham is dead to me.

The other option is to walk, but I hate to see this senior get hassled.

 

[cbyrne1174]

Another thought is that being 85 and in declining health, How important is your credit rating, anyway? If you are not contemplating any large purchases, your home is paid for, and your heirs are advised to simply refuse the bequest of your timeshare(s) upon your demise, don't worry about paying any entity- including Wyndham- to erase your ownership.

You'll get some unpleasant letters, but they are basically toothless.

I think some states can put a lien on your assets for the amount due upon foreclosure.

 

[cman]

I am 85 and in declining health and my wife and I can't use the Wyndham Resorts vacation programs anymore. Additionally, the maintenance fees are steadily climbing and causing us a financial burden. I can't seem to find any takers, anywhere, even for free. We have clear title and fees are all paid up. Would gladly pay closing costs and fee payments to the end of the year if we could only find a taker. But no one is interested. So now, I am left with only one alternative and that is simply to walk away and not look back, i.e., just stop paying the monthly fees. I really don't give a hoot about damaging my 7.9 credit rating at my age.
Question: Have any of you folks actually done what I am planning to do and if so what was your personal experience? Did you cut the chains and it work for you? Sincerest thanks for any advice.

85 years old, fees are a financial burden, can't use the property anymore. You Sir, are the perfect, "walk away" candidate. Just make sure you do the walk correctly. Do not respond to any of their letters or answer any of their phone calls. Do not communicate with them in any way. If you pick up the phone, and they're on the other end, just hang up. At 85, with no concern for your credit score, you're bullet proof. The second you open a line of communication with them, you're not. I wish you well, don't pay them another dime. They'll be fine.

 

[Passepartout]

I think some states can put a lien on your assets for the amount due upon foreclosure.

Nothing is due, and the TS has been offered back. Tell 'em to POUND SAND!

 

[warbucks2403]

Thanks to all of you for informing me of your personal experiences and advice. I should have mentioned earlier but our Club Wyndham ownership is at the Skyline Tower in Atlantic City , NJ. We have 189,000 use anytime and anywhere points good til 12/31/2020, at which time they roll over to RCI. Monthly maintenance fee is approximately $120. Our membership type is Club Wyndham Plus and contract type is designated as Club Wyndham Select. I have not contacted Ovation at Wyndham just yet as I wanted to get a feel for my options from you TUG folks in case Wyndham turns down our request to take back the ownership. Once again, our sincerest thanks for your advice.

 

[Skipper Scooby]

If you call about Ovations, please ask about the Limited Edition Program. That's where Wyndham will give you 3 years of your existing points in exchange of your deed. I don't know if they will give it to you, but it sure won't hurt to ask.

 

[Richelle]

Thanks to all of you for informing me of your personal experiences and advice. I should have mentioned earlier but our Club Wyndham ownership is at the Skyline Tower in Atlantic City , NJ. We have 189,000 use anytime and anywhere points good til 12/31/2020, at which time they roll over to RCI. Monthly maintenance fee is approximately $120. Our membership type is Club Wyndham Plus and contract type is designated as Club Wyndham Select. I have not contacted Ovation at Wyndham just yet as I wanted to get a feel for my options from you TUG folks in case Wyndham turns down our request to take back the ownership. Once again, our sincerest thanks for your advice.

I’ve yet to hear that someone was turned down when trading in a Club Wyndham resort. Some people have tried trading in weeks at other resorts and got declined. There might be some resorts that don’t get accepted but I have not heard one. Ovation is the faster way to unload a timeshare. Typically less then two months. Mine took four weeks. Transferring to another owner can take six months when you factor in the amount of time it takes to get a buyer, get an estoppel from Wyndham, do the paperwork, have a quitclaim notarized and sent back, get the new deed recorded, and have everything sent to Wyndham. That part of the process could take two months depending on how quickly everyone works. Wyndham does most of this work with Ovation. The only thing you have to do is sign a quitclaim deed, have it notarized, fill out and sign a form with a bunch of acknowledgements, and mail it back. Also, it’s free. When you transfer to a new owner, there are closing costs and transfer fee. The downside to Ovation is Wyndham gets free inventory to sell at full price. It’s kind of like double dipping. Ovation benefits both owner and Wyndham. Some will argue who benefits the most, but there is value for both sides. What matters is what you want. Given your financial situation, I would go with Ovation.

Just remember, wether you’re transferring to a new owner or using Ovation, you must keep up with the maintenances until it’s out of your name. Otherwise they will stop the process.

 

[R1964]

You should be able to use the Ovations program to get out of your timeshare. Skyline Tower in Atlantic City is a Wyndham managed property so it shouldn't be a problem. I helped my parents get rid of one in Williamsburg, VA that was Wyndham managed but the one they own in New Bern, NC isn't managed by Wyndham so it didn't qualify for the Ovations program.

 

[warbucks2403]

I just received a return call from Ovation and they offered to take back my ownership just as described above by Richelle (thank you RIchelle). I couldn't be happier with the Ovation process and the prospects for a smooth conclusion. Thanks Ovation and everyone who responded to my post.

 

[55plus]

I just received a return call from Ovation and they offered to take back my ownership just as described above by Richelle (thank you RIchelle). I couldn't be happier with the Ovation process and the prospects for a smooth conclusion. Thanks Ovation and everyone who responded to my post.

Congratulations on ending a lifetime of paying maintenance fees. I hope you enjoyed all those years of usages.

 

[Robert_Yamauchi]

Thanks for speaking up and sharing your predicament. This has helped many especially with the economy changing with COVID19. Special thanks to TUG, too.
By the way what is the phone number to Ovation?

 

[dgalati]

Thanks for speaking up and sharing your predicament. This has helped many especially with the economy changing with COVID19. Special thanks to TUG, too.
By the way what is the phone number to Ovation?

Contact Wyndham Cares at 866-948-4690, Monday-Friday, 9 a.m.- 6 p.m. ET.

Wyndham Cares: Timeshare Exit & Assistance

Need help with your Club Wyndham ownership? Or, are you looking to sell or exit your timeshare? Wyndham Cares has you covered.

clubwyndham.wyndhamdestinations.com

Need Help?
Contact Wyndham Cares at 866-948-4690, Monday-Friday, 9 a.m.- 6 p.m. ET.

WYNDHAM CARES ABOUT YOU

Travel preferences and finances change. When they do, Wyndham Cares can help you maximize your ownership, navigate your finances, or figure out if timeshare is still right for you. Contact Wyndham Cares at 866-948-4690 or learn more about Ovation by Wyndham

 

[deemarket]

My niece is caring right now for her Mom who is under hospice care and I think may need to act ASAP regarding her Mom's Wyndham contract. Her daughter said her Mom put her name on the contract. Daughter at some time asked her Mom to take her off the contract but doesn't know if she did take her off. She does not want the timeshare. Should she draft a letter to Wyndham right now asking them to take her name off the deed and have her Mom sign the letter before she gets worse and mail it right away? What is the address to send this kind of correspondence?
Thank you

 

[Tony Snodgrass]

Is there a similar way to give back a timeshare for Club De Soleil or Soleil Management? Should I just stop paying the maintenance fees? Has anyone else dealt with them? Thanks.