Miss Marty
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What are The Steps for Deeding Back a Diamond Resorts
"Weeks" Timeshare Deed in Williamsburg, Virginia?
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Call - Diamond Resorts - Loss Mitigation Dept
to see if they will accept the timeshare back
There is no way to reach the Loss Mitigation Department from their computerized phone tree or speaking to an agent. If you reached them, how did you do it?
It's a points system, right? Just stop paying the maintenance.
Someone mentions a "Loss Mitigation Department" at DRI in a post. I never heard of it. I haven't heard of many things. I would like to know how you can reach it. It is a matter of being informed. I like DRI and am not planning to ditch my deed or my points.
Yes, under certain circumstances, you can surrender your vacation ownership interval. There cannot be any active loans on the account, the 2009 maintenance fees and dues for THEClub® must be paid in full and there can be no usage for this year on the account. For members of THE Club, this includes booked reservations, exchanges, or other redemption opportunities such as member benefits. If you are a deeded traditional owner, your deeded week cannot have been used or deposited for use with an exchange provider such as RCI® or Interval International® .
If you own a deeded property and fit the above described conditions of no loan and maintenance fees being paid for 2009, you may request to have a warranty deed sent to you for signature before a Notary Public. Once we receive the notarized document back in our office, it will be sent to the County Recorders office for recording. When the deed has been recorded, you will no longer be responsible for the interval.
However, if you own an interval in one of the three U.S. Collections, in addition to the conditions of paid in full loan and 2009 maintenance fees being paid up, there is an $250 cancellation fee. The Mutual Release Agreement (MRA) will be mailed to you for signature before a Notary Public. When we receive the notarized MRA and payment for the $250 cancelation fee, your account will be canceled and you will no longer have any responsibility for or benefit from your timeshare interval.
If you would like to pursue this, please call our Customer Service Representatives at 1.877.DRI.CLUB. They will verify your account to confirm you meet the criteria above and then conference your call to our Loss Mitigation team who will speak with you further regarding your request.
Are you quoting something from Diamond or do you work for Diamond?
I deeded mine back last summer for $85 (and I got to keep my 2010 week). The direct number to Loss Mitigation is 1-800-279-7764. I just mentioned I saw Celia D's post on Diamond's Forums about deedback possibilities and explained my situation (basically I'd been trying to give it away for 7 months, I was currently paid up, but future maint fees would be a problem and I couldn't afford an (extra) vacation anyway), and they happily told me I could deed it back.
Previously, in fall 2009, I had asked about a deedback and they wanted $250 plus paid 2010 maint fees with NO USE to deed it back. Celia had mentioned there are different "packages" each year. I don't know what 2011's is.
Just got off the phone with DRI and not currently taking deedbacks. I was directed however to try writing a letter to DRI Hospitality Mgmt with circumstances and see what happens. He did mention that a few years ago they were taking them. Time to sharpen the letter writing skills.
NO As Mr Man posted, they are not currently taking back any of the TSs (including points)Is it true that you can walk away from points? I am retired and can no longer afford the extremely high MF and besides, mainly travel in my Rv.
If they will not take it back and I am current on my MF, have no loans, if I "walk away" from the MF what will be the consequences? I am 73, retired and cannot afford the MF. I do not think a sting on my credit report would be something to worry about. You mentioned "donating" the points. How?
If they will not take it back and I am current on my MF, have no loans, if I "walk away" from the MF what will be the consequences? I am 73, retired and cannot afford the MF. I do not think a sting on my credit report would be something to worry about. You mentioned "donating" the points. How?