Need to rescind Holiday Inn Vacation Club contract - help

[Godoesgood]

Hi there!
Through reading some posts, I have found I am in my window to rescind.
My question is this:
Prior to the owner update…I had been an owner for about 15yrs. I wanted to see what I could do to exit ownership bc the maintenance fees were too heavy, and the sales guy ended up working some shenanigans. He took what I had, sold it back to HIVC (I think), and sold me signature points which have a different maintenance inflation (slower/lower). He said I could afford this upgrade w a HELOC (which I found out today I don’t qualify for). So…I want to rescind. I plan to send my letter tomorrow (actually today as it’s 4am and this has kept me up all night lol) but want to know if I’m going to get my old plan back? Or if it will nullify everything (my hope is that it nullifies all). Anyone have any thoughts/ideas/experiences? Thanks!

 

[golfman]

Hi there!
Through reading some posts, I have found I am in my window to rescind.
My question is this:
Prior to the owner update…I had been an owner for about 15yrs. I wanted to see what I could do to exit ownership bc the maintenance fees were too heavy, and the sales guy ended up working some shenanigans. He took what I had, sold it back to HIVC (I think), and sold me signature points which have a different maintenance inflation (slower/lower). He said I could afford this upgrade w a HELOC (which I found out today I don’t qualify for). So…I want to rescind. I plan to send my letter tomorrow (actually today as it’s 4am and this has kept me up all night lol) but want to know if I’m going to get my old plan back? Or if it will nullify everything (my hope is that it nullifies all). Anyone have any thoughts/ideas/experiences? Thanks!

If you do rescind you revert back to your original position. Just make sure you follow the instructions to do so as they are spelled out in your paperwork.

Since you are an owner for 15 years I assume you own a fixed week deed at one of the HICV resorts. If you no longer want to be an owner you have several options. Depending on where and when you own your week there may be some or even no value to what you own. Many owners will offer there week for free if the new owner pays the closing costs/transfer fees. Your other option is to use the HICV "Horizons" program to get out of your ownership but there is a $1,200 fee to use this program.

 

[Godoesgood]

If you do rescind you revert back to your original position. Just make sure you follow the instructions to do so as they are spelled out in your paperwork.

Since you are an owner for 15 years I assume you own a fixed week deed at one of the HICV resorts. If you no longer want to be an owner you have several options. Depending on where and when you own your week there may be some or even no value to what you own. Many owners will offer there week for free if the new owner pays the closing costs/transfer fees. Your other option is to use the HICV "Horizons" program to get out of your ownership but there is a $1,200 fee to use this program.

Hi Golfman!
Thanks for the reply!
By revert to the original position you mean I would owe what I owed before? Then once that’s the case I do Horizons?

 

[TUGBrian]

yes that is correct, no need to buy something new and pay that inflated premium!

rescinding just puts you back in the exact same position you were in before regarding your ownership.

congrats on finding TUG in time to save thousands!

 

[Grammarhero]

Hi there!
Through reading some posts, I have found I am in my window to rescind.
My question is this:
Prior to the owner update…I had been an owner for about 15yrs. I wanted to see what I could do to exit ownership bc the maintenance fees were too heavy, and the sales guy ended up working some shenanigans. He took what I had, sold it back to HIVC (I think), and sold me signature points which have a different maintenance inflation (slower/lower). He said I could afford this upgrade w a HELOC (which I found out today I don’t qualify for). So…I want to rescind. I plan to send my letter tomorrow (actually today as it’s 4am and this has kept me up all night lol) but want to know if I’m going to get my old plan back? Or if it will nullify everything (my hope is that it nullifies all). Anyone have any thoughts/ideas/experiences? Thanks!

Mind sharing the timeshare purchase price? As half of us initially bought developer timeshares, there is no shame.