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Thread: trying to get out of time share DRI Diamond Resorts

  1. #1

    trying to get out of time share DRI Diamond Resorts

    I purchased time share 2008, monarch grand,now diamond resort I want out spoke with consumer advocates they claim they can get me out of my time share for 3,999.I do not want to be a fool for a second time , has any one used them.?

  2. #2
    Number one rule is to never pay anyone to sell your timeshare.

    Is your timeshare paid off?
    Luanne

  3. #3
    Goomba & Super Moderator tonyg's Avatar
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    Way too much cost. Try giving it away, or see if Diamond has a deed back program. If you still can't get rid of it, pay someone a smaller amount to take it from you. If you were to pay that $ 4k, there's no guarantee that they will actually remove your obligation.

  4. #4
    Silver Contributor and supermoderator GrayFal's Avatar
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    Quote Originally Posted by t.roussell View Post
    I purchased time share 2008, monarch grand,now diamond resort I want out spoke with consumer advocates they claim they can get me out of my time share for 3,999.I do not want to be a fool for a second time , has any one used them.?
    This is almost 100% a scam. Do not give anyone a fee such as $2000, $3000, $4000 to "get you out" of your timeshare.

    I have read this information on another Timeshare board. Why not give it a try.

    The financial dept apparently Voluntary Surrender Program:

    In order to qualify, the HOA must be up-to-date and the owner must have a zero balance on the loan.

    To start this process, the owner must send an email to: lossmitigation@diamondresorts.com with the subject line stating: Inventory Takeback.

    In the email itself the owner must include:
    -Resort Name
    -Owner(s) Name(s)
    -Account Number
    -Inventory owned (ie. weeks, points, etc)
    -any other important information regarding the deed

    within 7-10 business days, the Diamond Resorts will send an action required correspondence, where the owner will have 15 days to return.

    Note: the owner is responsible for any fees associated with the paper work, such as notary, postage etc.
    And here is one owners experience.

    This was MGV 327 points/9800 DRI points, annual maintenance fees of $1700, possible Cabo repairs surcharge looming. My wife and I have been trying for years to give it away.
    April 23 -- read this thread and sent email into DRI Inventory to request cancellation. Told them I cannot use the timeshare any longer and cannot afford the ongoing maintenance and HOA fees.
    April 23 -- got automated response confirming my request
    April 26 -- got email with confirmation from a real person, and said they would send me a Mutual Release Agreement for me to complete and notarize.
    May 2 - received and completed MRA and returned with check for $250.
    May 7 - spoke by phone with DRI and confirmed they had documents in hand, and was told all accounts are settled at end of month.
    May 29 -- bank shows check was cashed.
    June 1 -- my login at Monarch Grand/DRI owners page returns error message "We have no active membership or ownership for the credentials you supplied" :whoopie: DRI confirmed by email our ownership is cancelled, no future invoices will be coming
    I suggest you read thru this LONG thread and Then contact Diamond as suggested.
    Let us know how you make out.

    http://www.tugbbs.com/forums/showthr...66#post1764566
    Last edited by GrayFal; 09-02-2015 at 07:19 AM.

  5. #5
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    I guess if some shout loud enough long enough, someone in the industry hears.

    That's encouraging, and can go a long way to polish the tarnish on timesharing. I think a lot more would be open to the concept if they knew it wasn't a trap.
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  6. #6
    Goomba & Super Moderator tonyg's Avatar
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    Exit strategies are now mandated by the European version of ARDA. Some USA HOA and resort groups are also waking up to the fact that it's easier to take a deed back than it is to lose money trying to collect from those who can no longer afford their timeshare. It also gives them more control over their inventory of units.

  7. #7
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Quote Originally Posted by tonyg View Post
    Exit strategies are now mandated by the European version of ARDA.
    Someone said that somewhere recently.

    Thanks for sharing.

    Even RCI recognizes that small step for mankind:

    http://www.rciventures.com/rdo-stren...exit-strategy/
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  8. #8
    Please excuse me, I'm a Dick. Not a moron just a Dick
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    Quote Originally Posted by JLB View Post
    Someone said that somewhere recently.

    Thanks for sharing.

    Even RCI recognizes that small step for mankind:

    http://www.rciventures.com/rdo-stren...exit-strategy/
    "RDO’s new requirements, recently approved by the Board, go over and above those covered by law and, in addition to it now being mandatory for RDO resort members to have an overall exit programme in place, the following specific new elements have been adopted (although in the case of some members and their clubs such practices have been in place already for a number of years):
    ◾In the event of the death of a joint owner, the surviving owner can surrender their timeshare if they wish and additionally, the beneficiaries of a will are not obliged to take on the timeshare if they do not wish to do so.*
    ◾A timeshare owner who has been declared bankrupt may hand back the timeshare without charge.*
    ◾If a sole owner or either of the joint owners is suffering from a long-term illness that prevents them from travelling to their resort for the foreseeable future, the timeshare interest may be surrendered.*
    ◾In all other cases, an owner may surrender their timeshare interest at any time, subject to the agreement of the RDO member. In such cases any surrender fee shall not exceed a sum equivalent to three years current maintenance fees."
    RCI Member Since 24-Aug-1989/150-plus Exchanges***THE TIMESHARE GRIM REAPER~~~Exchanging/Searching/SW Florida/MO/AR/IA/Consumer Advocacy/Estate Planning/Sports/Boating/Fishing/Golf/Lake-living/Retirement****Sometimes ya just gotta be a dick

  9. #9
    Thank you so very much I am on it.

  10. #10
    Thank you so very much , a retired 86 year old vet.

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