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hard to say as even past experiences wouldnt have any bearing on their decision right now especially with it being so close to the end of the year and your 2025 dues likely being due within the next few months! can only suggest to contact them directly and inquire about simply stopping payment and ending your ownership early! with only 2 years left they might just agree outright!

@@TimeshareUsersGroup thank you very much for your knowledgeable response & for that encouragement!🙏

@@lisachasko9776 you are most welcome, we hope you are able to work out an acceptable solution without having to pay anything out of pocket!

we offer free membership extensions for writing reviews and or referring other owners to TUG!

yes i was using a new software to stream to multiple locations and clearly didnt have it setup correctly! ive at least corrected THAT problem for the next livestream!

@@TimeshareUsersGroup Woo Hoo! Thank you for the update. Looking forward to next time!

thanks for watching Jim! will start doing these more frequently till I get the hang of the live stuff!

Hi Joe! this is the replay, the livestream kicked in at 9pm eastern!

different systems all have different policies and procedures for which they use to handle owner defaults. Once you have been turned over to a collections agency it is not unexpected to see a ding on your credit for defaulting on your timeshare especially if there was still a loan balance attached. There really isnt much left for you to do here as the only way to make that ding go away would be to pay the dues/fees owed however that would just put you right back in the situation you were in beforehand.

no sadly when you rescind it simply cancels the current contract and restores anything you would have had prior to the "upgrade"

Ok thank you i appreciate your response​@TimeshareUsersGroup

if you are still within your rescission period yes, all money you paid is refunded when you exercise your right to rescind.

@@TimeshareUsersGroup thank you so much for the information sir, also do you know If I have to present a letter to them or to a court of law in florida, sorry for so many questions but we are from Ecuador and we are gonna get back to our conuntry on Thursday so we are in a hurry

@@miguelespinoza9261 no, all you need is to mail a letter per the instructions in your contract within the allotted time. retain proof it was sent!

unfortunately once you are out of your rescission period your options are limited to rather poor choices. you can still try to convince them to end your ownership by becoming a squeaky wheel, but this is only effective if you can prove you were misled or lied to during the sales presentation or other similar extenuating circumstances. you are not able to give back, or give away a timeshare if it still has a loan balance attached leaving you with default as a final option (and this is the strategy utilized by exit/cancellation companies) but it comes with the expected potential consequences of defaulting on any other loan/agreement. tug2.net/timeshare_advice/how-to-get-rid-of-timeshare.html

Mexican timeshare resorts usually are not deeded ownership, thus there is nothing to foreclose on. the only risk if if they engage a us based collections entity to pursue whatever outstanding balance you have (loan or otherwise)

We are very sorry you didnt find TUG before buying a Westgate Timeshare too! :( It sounds like you have already stopped paying for it and are going through the expected default/collections process!

this is a very common story from folks who hire upfront fee exit companies for sure. its frustrating to learn the solution you paid for not only could you have done yourself, but in fact can hinder your chances of truly getting out of it without significant penalty. people who just stop paying on their own are actually BETTER OFF than hiring an exit company to do the exact same thing for this very reason.

Most of the tens of thousands of owners on TUG love their timeshare! however we bet you would love it even more if you got it for free on the resale market instead of paying full price for it!

Glad it was helpful! Thank you so much for supporting TUG on youtube! hope you also participate on the TUG HGVC forum as well! tugbbs.com/forums/forums/hilton-grand-vacations-club-hgvc.52/

This was recorded live and no responses were edited or changed prior to publishing the video. Id imagine it looks like neither party is looking to offend the other because thats exactly whats happening. Adults with opposing views should be able to have a meaningful discussion without offending or insulting one another! That said, this was the first effort for Jason and Brian to host a discussion like this we hope things will get better moving forward. the wyndham deedback program has been in existence for many years. tugbbs.com/forums/threads/sticky-give-back-your-unwanted-wyndham-timeshare-wyndham-ovations-wyndham-cares-certified-exit.237533/

Oh, ok. Well, thank you and I'll watch for the future episodes. Thanks for the link also.

I have experienced a dishonest salesperson as well (and reported it), but ive also experienced more honest ones who truly knew the product itself and were perfectly ok if a customer was educated themselves, knew about retail vs resale, and other such things that would prevent them from buying during the presentation etc. we get reports on an almost daily basis of someone encountering a salesperson who was playing fast and loose with the truth and there is no excuse for that, ever! but I was rather shocked at the quote of "perhaps a million" sales presentations given in a calendar year and if that is truly accurate would indicate the industry itself does not condone that activity and is far better served to find new owners who are happy with their purchase vs being tricked into buying it!

that is correct, explaining what ARDA and ARDA-ROC do was the first question we tackled on this podcast. that question/discussion starts around the 10minute mark.

Thank you for the kind words! I think both of us were happy how this turned out and are already discussing the questions for episode 2!

When is part 2 so we can send in our questions?

@sheilahbrust3194 Here is the original thread showing all the questions on the list sofar! you can post suggestions there or here if you like! tugbbs.com/forums/threads/if-you-could-ask-a-question-of-a-timeshare-executive-what-would-that-question-be.363204/

I dont have a good answer for you here without seeing what was in the document they sent you. I can say that resorts usually dont "offer" you a foreclosure vs notify you they are pursuing foreclosure or threatening it etc. in most cases an offer from the resort would be more along the lines of them offering for you to sign the ownership back over to them willingly and some form of settlement or similar for them to reduce or waive the outstanding debt you own.

@@TimeshareUsersGroup I'd gladly sign it back over to them if it was offered if that would help my credit.

@@pearlrichardson4179 I doubt that signing it back over to them is going to make the credit ding go away once its already been reported, but your credit should repair itself over time and you can petition or dispute the ding to the credit bureaus if you work something out with the resort down the road!

Well if it was sent from the resort thats a pretty good sign. if you are skeptical about its legitimacy I would suggest reaching out to the resort or management company directly to inquire about the offer of surrendering it back to them.

@timeshare user group, what is a Warrenty Deed in Liue of Foreclouser?

@@joanadiaz3458 that would be the resort offering you to surrender the ownership back to them willingly to avoid going through the foreclosure process itself (which is lengthy and expensive on their end). this is likely what you wanted to happen at the very beginning!

you are correct. once an account becomes delinquent it would require all the overdue fees paid up to either sell, give away or give back. would at least suggest having you or your parents to reach out to bluegreen and explain the situation (85yo, medical issues, cant travel, etc etc as applicable) and see if they would be willing to accept it back. many times you have to be stubborn and make multiple requests. I would also advise that same response when/if they begin to send overdue letters or collections notices in explaining that your parents have been happy owners for years but their age/medical/financial situation no longer allows them to utilize the product anymore. sometimes its just a matter of getting the story in front of the right person or department to be able to handle it. www.bluegreenvacations.com/talk-to-bluegreen-vacations-were-here-to-help

TUG provides a free forum for owners to give away their timeshares for free! tugbbs.com/forums/forums/free-timeshares.55/

Thank you! I appreciate all the support we get on here and via email/forum! very happy to keep making these as long as owners find them useful!

I certainly hope that is the end of your story however you can likely expect them to take action eventually to recover the ownership type (deeded or not). However the chances are that action will be them reaching out for you to surrender the ownership back over to them.

@@TimeshareUsersGroup So at that point it will be BG and not the collection outfit correct

@@joeherndon5815 yes, the collections outfit is simply hired to make an effort to collect on your outstanding debt. its bluegreen who would want the actual "ownership" back so they could resell it or similar.

I always advise making an effort to surrender the ownership back (unlikely without special circumstances) or to offer it up on the resale market for free with an offer to pay closing costs yourself (can post it on the TUG free giveaway forum for free)... if you have no success there, your only option that remains is to default and roll the dice on how tahiti village will respond in efforts to collect your unpaid maintenance fees as described in the video! At least however if you have made efforts to both give it away and give it back with no success you can relay that in all your future communication with TV as to the reason you have chosen to stop paying in efforts to force their hand in accepting the ownership back to you. It really is down to two bad options for owners in this scenario. 1. continue to pay forever for something you dont want and dont use. or 2. stop paying and force the resort to take action to recover the ownership from you (either thru deedback or foreclosure)

The average cost of a timeshare last year was somewhere around $24,000 dollars

tugbbs.com/forums/threads/sticky-hilton-vacation-club-dri-now-accepting-deedbacks-give-back-your-hgv-diamond-resorts-timeshare.224859/

we were actually interviewed multiple times by producers for the John Oliver story.

ill see if i can reduce that effect in future videos...usually its not that noticeable but rewatching this one and i can see it very clearly. much of it is caused by the editing and removal of my "breathing" sounds or saying "umm, and or uhh" that is picked up by the microphone or to flat out remove long pauses in me speaking while creating the videos.

nothing wrong with trying to reach out and inquire about ending your ownership, but chances are low that they would agree to let you go vs attempt to get you to pay some sort of "early termination fee" which is as you guessed it...just another made up fee! There are no deeds involved with mexican timeshares thus no risk of foreclosure. By and large there is much less risk of negative consequences when you stop paying for a mexican timeshare vs a us based one though nothing in this world is truly without risk. We would expect them to continue to make efforts to collect on past due fees/late fees/made up fees/etc anything to get you to pay!

@@TimeshareUsersGroup Thanks so much for your response. Other members who have also paid their ownership/membership in full also express that they have no intention of paying this fee and I believe that Belair also states that canceling is NOT an option they offer. Since I technically paid off my contract; is there a risk that my credit could be affected if I choose not to pay this assessment? Their billing letters seem to reference a Las Vegas based collection agency.

@@albertodiazmd there is always that risk yes though its far less than if you still owed a loan balance, you have to ask yourself is that risk worth continuing to pay for the remainder of your contract? If they have a us based collections agency then it is likely you will be harassed by them in an effort to get you to pay, however again is that better or worse than continuing to pay for something that you dont want, dont use, and cant even give back? We would urge you to document all your contacts and efforts you have made to end your ownership including offering to surrender it back or offer it up on the resale market (sadly many mexican timeshare resorts charge staggeringly high transfer fees that make this difficult to accomplish as well...are you noticing a trend yet?).

This is a very good question. None of us wants to default on our commitments but, holy cow, this economy is killing us already & both of my resorts have just imposed special assessments to help cover THEIR huge increase in costs; one due in July & one due in the middle of August for a total of $492.00. Mark my words, these "special assessments" will be ongoing. This situation is causing me quite a lot of financial anxiety since both resorts also raised their maintenance fees in the last 12 months.

we have an entire video covering that! czcams.com/video/Th_xLhxs6h0/video.html though we do suggest at least trying to give it back or give it away first!

@@Luvlinedance walking away is a viable option, and the one that is used by exit companies to guarantee they can get you out of your timeshare because its the only 100% successful solution! there is a risk to your credit with any default! we cover this in our video here: czcams.com/video/Th_xLhxs6h0/video.html

you can transfer the deed to anyone you like, however that party has to agree to the transfer and all the applicable paperwork/documents must be signed and filed to complete the transfer even if you are just giving it away or giving it back to the resort.

@@TimeshareUsersGroup What about a Gift Deed? No money or other consideration can be exchanged & the grantees don't need to sign anything or even know about it. Record it? ABSOLUTELY. Is there something I do not understand about gift deeds?

@@Luvlinedance the amount of money you are asking has no bearing on the process to transfer a deed. be it one penny, or 50,000 dollars. all deed transfers require the full knowledge and agreement by both parties. (and signatures)

while default is always an option and will result in the ending of your ownership, what is happening with club tahoe? We did see a recent post from an unhappy owner but no specific details? is it similar to what is happening with tahoe summit? at least in that case they appeared to be letting owners surrender or giveback! tugbbs.com/forums/threads/tahoe-summit-village-financial-difficulties.359728/

yep, this industry will get you coming and going thats for sure! only way to protect yourself is to know the truth ahead of time!

if you have a genuine financial/medical hardship or similar you can absolutely reach out to try to come to some sort of arrangement with your timeshare though Id not expect a high chance of success there is no harm in trying!

far more likely to take a credit hit by defaulting on the loan than the maintenance fees. also paying off the loan provides you the additional options of either trying to give it away for free or give it back to the resort.

we always advocate the first step is to reach out or research to see if your resort or developer offers a surrender program! Even if one is not publicly announced it never hurts to ask! tug2.net/timeshare_advice/give_back_timeshare.html

Unfortunately there arent really any good options for exit if you just bought and still have a loan balance. you can certainly attempt to try to rescind outside your legal rescission period but the chances of that are low. you can try to become a squeaky wheel and complain enough that they let you out of your contract, but the chances of that are also low. both these options chances increase if you have some sort of documentation or proof that you were lied to or mislead during your presentation. If that is the case then you should absolutely leverage that in your attempts to rescind or otherwise cancel your ownership as well as report your story and facts to the appropriate state attorney generals offices! Outside of that, the only options to exit are to pay off the loan and give it away/give it back...or default! note that as mentioned in the video, these are the same strategies used by exit companies to get you out of your timeshare.

I appreciate the video. I think I have a plan to unfortunately pay for this terrible financial decision. However, is there success in giving it back without defaulting? Or is that subject to the company being courteous or not? Just trying to get my ducks in a row when my “mortgage” is paid off. Thank you again for what you do.

@@Omicraze if you have a legitimate hardship situation (medical/financial/etc) some resorts have been known to work with you in that regard yes. however other than that or becoming a squeaky wheel on social media and such or filing a complaint with attorney generals offices (assuming you have a legitimate complaint to file) there are not any real good options for making that loan balance disappear other than defaulting on it. that said even though the chances of success for the hardship/squeaky wheel suggestions are low, it costs you nothing to try!

yes, once you become the new owner if you decided to end your ownership you would either have to sell/give it away to a willing buyer, give it back to hilton, or stop paying for it.

After hearing all the horror stories with timeshares, why would you ever enter into one of these!?!? Just get a hotel room or rent a house/apartment where you are wanting to stay. When you leave, it's not your problem anymore! My buddy pays $2k/year maintenance fee for a weeks stay at his timeshare in Vegas (also trying to get out it which is why we're on these videos...). That's almost $300 PER NIGHT for a weeks stay. That's a pretty nice hotel room if you ask me and someone else will clean your room every day.

@@carlk6398 10 billion dollar a year industry, they clearly have no issue finding buyers! This is a marketing pitch that has been honed to perfection for decades! Even people who walk into a sales presentation with the mindset of "im not buying a timeshare" sometimes walk out after buying a timeshare, it is wild! The value in timesharing is when you can stay on a vacation for LESS than it would cost you for a hotel or airbnb. for 2k a year in fees id imagine he has a 2 or 3br in vegas, and an equivalent hotel with mulitple bedrooms and a full kitchen/living room is likely much more than the average single hotel room at any resort! its all relative! That said renting is a great way to enjoy staying in a timeshare without having to buy a timeshare and we suggest that route to anyone who is considering ownership!

while anything is possible, though unlikely and we have never heard of any instance of this actually happening for defaulting on your timeshare. Not to mention that default is the number 1 strategy used by exit companies to guarantee they can get you out of your Timeshare! It is likely to be reported to collections and credit bureaus however! A better bet would be to begin filing complaints that detail the "lied to" part to the Florida attorney general (where wyndham is headquartered) as well as the TN AG since you bought your timeshare there! Also begin filing those complaint with wyndham directly and on their social media. We would also suggest following through with an attempt to rescind even if you are outside your legal rescission period by a short time, you never know! The more details about how you were lied to during the presentation the better! there is no value in just typing up an angry letter without facts/dates/names/etc!

really depends on which resort (hilton grand vacations, or hilton vacation club) and if its paid off or not! both offer the ability to give back an unwanted and paid off ownership though! hgvc: tugbbs.com/forums/threads/hgvcs-deed-back-process.359743/

and hvc: tugbbs.com/forums/threads/sticky-dri-now-accepting-deedbacks-give-back-your-diamond-resorts-timeshare.224859/

Very sorry that you missed your rescission period by a few short days, honestly we would still try to cancel using that angle and be vocal about it on social media/etc! While they are under no obligation to let you out past your rescission period, some resorts have been known to honor your cancellation request if its just outside the window and it costs you nothing to try! Outside of convincing them to let you cancel you dont really have any good options to end your ownership. pay it off/give it back or default!