Information on a deed-back acceptance

Hello...

We have been offered a deed-back finally, but the forms they sent want all our personal information. It's a "Statement of information confidential information for your protection". Is this normal? It's straight from VRI c/o San Clemente Inn and signed by the a lady from their inventory control.

We have never used it and I was under heavy medication and grieving when we went to the presentation. I should have not and did not want to sign it or want it but my husband seemed to think it was a good idea based on their salesman tactics.

We had spoken to numerous lawyers and the like and read all the horror stories and dragging this out for longer is only going to affect my health more.

We paid off the mortgage this week, paid off the collections, now they want another $475 to get out of it.

We are going through medical and financial hardships due to the rise in our medical deductible that is $11,000 now. We had to take a loan to pay this off (a better interest rate at least) that we needed for other things.

At this point this will cost us about $7100 all together and we have never even used it.

I don't think I should have even been signing legal documents in my condition. Also at this point a lawyer would have been cheaper.

It seems they keep stringing us along and it's also concerning the amount of personal information they need, including our child's name.

Is this normal information or are we being duped?

stephaniem832 wrote:

We paid off the mortgage this week, paid off the collections, now they want another $475 to get out of it.

At this point this will cost us about $7100 all together and we have never even used it.

If the $475 is a promise from the resort or timeshare company itself and not some third party, then this is legitimate and a good deal. I'm just curious though, what is the other $6625 for?

We negotiated a pay off amount of 5,865.00 to satisfy the loan my husband did on it. (Ugh) and we got sent to collections this year (the first year we had to pay maintenance fees, and also the year my health took a turn for the worse) so even tho I had inquired and written a request for a deed-back in June, nothing ever got done apparently and I couldn't stay of top of it as I now see you must do with this, due to multiple ER visits in August finally. So we came back to a mess of mail and my realization of what was really going on with the TS. So, short story long we negotiated a pay off to get it out of collections for $665 instead of having to pay $1422.85. We had to pay both the mortgage and get it out of collections to do the deed-back. I researched lawyers and everything, so much research about TS's til I was blue in the face. I feel as I am disabled and due to the lies we may have had a case, but due to my health, I just want this over with and to not have to mess around with lawyers.

If you are dealing directly with the resort then the deed back is the best way to go . i got rid of two timeshares in 2011 that way . Getting rid of your timeshare should relieve a lot of stress . Good luck .

Thank you for your info Don. It was partly because of you that I called our home resort and asked for a deed-back and she had no problem doing that. I just wish I would have contacted her sooner!

As far as the deed-back process, we have to fill out a Statement of Information Confidential Information For Your Protection form. It asks for our SSN's and DL's and our last 10 years of residence and employers. Is that standard?

That doesn't sound right to me . Are you dealing directly with the resort . If you dealing directly with them then just fill our the pertinent information . Just make sure you're not dealing with anyone other that your home resort . If you have any more questions ask them before you send the information in to them . I did my two deed backs in 2011 and I didn't have to give them all that information but they do need your ID and probably your SSN .

It's directly through VRI who manages the resort we own. It says "Completion of this statement expedites your application for title insurance, as it assists in establishing identity, eliminating matters affecting persons with similar names and avoiding the use of fraudulent or forged documents."

We are supposed to fill it out and send $350 for the Lot Book Title Report and an admin fee of $125 for a total of $475 made out to our home resort and sent to VRI (Vacation Resorts International) c/o inventory control.

So the info is going to the resort's mgmt co, and the check is to be made out to the resort.

The resort is probably using a title company to transfer the title . I thought of a good idea . If they let you pay with a credit card or Paypal at least you can dispute the payments if there is a problem down the road . Keep us informed and keep asking questions if you aren't sure about anything .