NEED TO RETURN TIMESHARE

lisae375 wrote:

This resort does operate an office in the US, which is at the crux of the issue. They operate out of Miami. The resort we purchased at was at Cable Beach, Nassau Bahamas. The resorts answer for no longer having a resort there is that the resort no longer measured up to it's standards. This is interesting, since the last time we were able to stay at the resort the first room they placed us in had extremely wet carpet. We had to demand to be placed in another room. The resort was promised to be upgraded and being built up into a brand new resort. It was only after asking to book time at Nassau, our favorite place to go that we learned they no longer have any resorts in the Bahamas. Their main locations are in Mexico, or overseas. Places we do not want to go. The way we see it, without the Nassau resort there is no contract. This is what we are fighting with the resort about. So far, they are refusing to budge due to the fact they say the offer new and better destinations. This is a fallacy.

Sounds like a difficult and complicated dilemma to navigate and one for which I cannot personally offer any well informed or intelligent solutions or suggestions.

That said, there may be little point in arguing with the resort. There is a contract here somewhere and you may not really have much leverage to "move" them off their position --- unless that contract's content works decidedly in your favor. You would need an attorney with contract expertise to examine and (if warranted, legally challenge) the validity and enforceability of your contract (which makes me wonder WHERE that contract was initially executed in the first place; I suspect that important detail matters a WHOLE lot here).

Mounting a legal challenge to the contract would obviously cost money, win or lose; you may want to consider the cost / benefit. If the contract was executed in the Bahamas outside U.S. law and jurisdiction, it's a bigger problem and higher hurdle. The good news is that if the contract was executed right here in the U.S. and these monkeys still have a U.S. presence, it would seem that "service of process" would be relatively easy (if you ultimately choose to pursue the contract challenge route). If the contract is weak and / or supports your position, the mere prospect of further legal action MIGHT "open their minds" a bit.

This input is not offered as legal advice nor is it offered or intended to substitute for your obtaining legal advice on your own; I'm just "thinking out loud" in this discussion forum. Basically, I'm hoping (for your sake) that you have a U.S. executed contract which clearly identifies something very specific that the "other party" can no longer actually provide. If that is the case, you can surely assert "breach of contract". But I don't know WHAT your contract actually says or even WHERE it was executed, making all of this just purely speculative "conversation". If what you have is actually some form or flavor of RTU "club membership", with no deeded ownership of any sort, you'll have a steep uphill climb ahead. In any event, I wish you luck, whichever course of action you decide to pursue.

Wyndham Ovation Program allowed me to transfer back my Timeshare contract (154,000 points in Towers of the Grove Myrtle Beach) a few months ago. I have a re-conveyance Warranty Deed copy, I no longer pay fees, and have a written letter stating I have no further Rights or Obligations under the contract. Am I still entitled to pay for the Timeshare? I still owed $6000 through a hypothecation loan to some Resort Funding Place in New York. What happens if I don't pay them? The hypothecated asset (The Timeshare) served as collateral, and gives the lender (Resort Funding LLC) a right to sell off that asset and recover the payment in the event I fail to pay back the loan as per the terms of agreement. I am no longer the owner of the asset, Wyndham is... Do they just go after Wyndham? Does Wyndham just give them back the portion of the money they didn't get out of me from the scam since they own it again now, and probably sold it again to some sucker for another $25K??? What happens now?

michaelm2393 wrote:

Wyndham Ovation Program allowed me to transfer back my Timeshare contract (154,000 points in Towers of the Grove Myrtle Beach) a few months ago. I have a re-conveyance Warranty Deed copy, I no longer pay fees, and have a written letter stating I have no further Rights or Obligations under the contract. Am I still entitled to pay for the Timeshare? I still owed $6000 through a hypothecation loan to some Resort Funding Place in New York. What happens if I don't pay them? The hypothecated asset (The Timeshare) served as collateral, and gives the lender (Resort Funding LLC) a right to sell off that asset and recover the payment in the event I fail to pay back the loan as per the terms of agreement. I am no longer the owner of the asset, Wyndham is... Do they just go after Wyndham? Does Wyndham just give them back the portion of the money they didn't get out of me from the scam since they own it again now, and probably sold it again to some sucker for another $25K??? What happens now?

An interesting and unusual situation --- and I certainly don't have any definitive answers. That being said, you surely won't like my initial thoughts on the matter.

Your loan (neither issued nor held by Wyndham, if I understand correctly) and the Wyndham points contract would SEEM to be two separate, distinct and unrelated transactional matters. With no disrespect intended, I don't see how you could reasonably believe or expect that the lender is just going to "let you off the hook" on that loan, merely because you have relinquished your access rights back to Wyndham. In short, I cannot see how relinquishing your Wyndham rights back to Wyndham really has ANYTHING to do with the loan status at all. In other words, I don't see how YOUR loan responsibility can or will possibly become Wyndham's problem. After all, YOU took out the loan, not Wyndham.

You will have no further rights to Wyndham access --- that much is surely quite clear --- but I wouldn't be too surprised if the lender comes after YOU for the unpaid loan balance. I hope that I am completely wrong, but I would nonetheless be very willing to place that bet.

I would love any contacts of reputable companies and/or attorneys that have been successful in voiding a timeshare/vacation club contract for someone. Thank you for any help.

michellew684 wrote:

I would love any contacts of reputable companies and/or attorneys that have been successful in voiding a timeshare/vacation club contract for someone. Thank you for any help.

First of all, without telling us the exact property, what is it you own? Is it a deeded timeshare? A right-to-use (RTU)? Or a travel club membership? Establishing that would help give you an effective answer.

Secondly, I am not going to recommend any attorney to get you out of your timeshare/vacation club contract. Some might be effective but what they do, you can do yourself for a lot less money. Remember, just because they are licensed attorneys, it does not mean they have some sort of mystical powers that can make your contract disappear.

michellew684 wrote:

I would love any contacts of reputable companies and/or attorneys that have been successful in voiding a timeshare/vacation club contract for someone. Thank you for any help.

NO ONE can just unilaterally, magically "void" a valid and legally binding contract. NO ONE!! It doesn't matter what claims or promises are made. Only if your contract is legally deficient in some manner do you really have any shot at escaping it. Frankly, that's highly unlikely.

That being said, you might consider contacting Finn Law Group in Largo, FL. Mike Finn knows and understands the timeshare industry very well and he is no fan of deceitful developer practices. That being said, he is an attorney --- NOT a magician. If your contract is valid and solid, you are between a rock and a hard place and stuck there. It wouldn't cost you anything to just contact Finn and see if he could / would be able to help you. If not, he'll tell you so bluntly. If he thinks you actually have a case, you will have to pay money for legal representation --- he is not a charity. I'm not "peddling" the man or his services, but I have met him and he knows and understands the industry. That STILL doesn't mean he can or will help YOU, but it would cost you absolutely nothing to inquire and find out for yourself.

I know Mike Finn well but only refer to him after the resort refuses to take back the timeshare. If it's a simple request for relinquishment contact the resort first and see what they say. Loans are more difficult to cancel and if denied and you stop paying, it will be reported as a foreclosure. Those worried about their credit score should consult at attorney. If you file a complaint with the Attorneys General where you signed, where the resort headquarter is domiciled, and where you live, the resort has to answer and they are less likely to tell an AG no than a timeshare member. If there is a loan or credit card involved, often with Barclays, file a complaint with the CFPB. Several times the member or me, if I filed on their behalf (like when English is second language), we received a call and letter from the bank within a day or two. You file under mortgage (even if no mortgage) and select the bank. There is no option to select the timeshare company. Out of courtesy, file your request with the resort first and state you will not file the regulatory complaints for a week to allow the resort time to respond. I know several posting are critical of BBB, as they only report how efficiently the company responds to complaints. However, for some reason, Bluegreen is going out of their way to help members who file a BBB complaint, following instructions provided by the book published by a member supported Bluegreen Facebook.

Hi Debbie- I just came across your message as I was trying to find out more information about returning times shares. From what I understood it looks like there is no such thing but how do I go about selling mine? I purchased it in Las Vegas this 4th of July.

Thanks

achals3 wrote:

...but how do I go about selling mine? I purchased it in Las Vegas this 4th of July.

Since you purchased it over a month ago, you have passed your rescission period. Do you still owe money on the loan/mortgage? If so, then no one is going to want to take it from you. You have two options (neither of which might sound palatable). First, pay it off and then try to sell or give it away. The other is to just stop making payments, let it go into foreclosure, but get hit with the negative credit rating.

Just do not go paying any law firm or company that claims it can magically release you from your mortgage and contract.

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