It was a good ride ...

[GTLINZ]

We received news that our transfer is complete and we are no longer HGVC owners. We have one trip left here in Oct - the reservation is honored but cannot be changed.

Our kids have grown and are not as interested in going to Orlando, and we are starting to prep for retirement in 5-7 years - so we are scaling back on our timeshare ownerships. We have leveraged our ownership over 15 years to go to Marco, Sanibel, Captiva, Indian River Plantation, Key West, Breckenridge, San Fran, Del Mar, Coronado, Avila, Maui, Oahu, and Hilton Head. Our quick trip escape was Tuscany Village and we stayed there over 30 times (often with friends on cash rates and often on the way somewhere else if FL). All of this on a 1br plat ownership.

We also have relatives and friends who have retired to the Villages, Tarpon Springs and Clearwater and have decided to take them up on their offers to come more often. So it seemed like the right time.

 

[fernow]

Fair winds and following seas.

 

[bogey21]

We received news that our transfer is complete and we are no longer HGVC owners...

I think I understand. For many years owning TimeShare Weeks were part of my life and worked great for me. But after I divested my last week I experienced both feelings of relief and loss. All in all I had a great run. Good luck...

George

 

[pedro47]

It is over and the Fat Lady agrees; it is over especially when the owner have had a great vacation ride over the years. Thanks for sharing your many posts over the years.

 

[RCE-Ohio]

So, I know it is possible for people to really enjoy their TS ownerships but for me, I just need to really get out. Not going to bad mouth any of it - I just personally need to get out. Unfortunately, there does not seem to be a certain path to that end following all the reading I have done here. So, if GTLINZ and bogey21 are still on the site and following - anyway you could expand on how you transferred and divested yourself of your TS holdings other than bankruptcy or nonpayment routes? Thanks in advance!

 

[CalGalTraveler]

@RCE-Ohio if your timeshare is in Florida there is something called a non-judicial, anti-deficiency rule that can be applied to timeshares. Bottom line: the worst they can do is take back your timeshare, hit your credit score, (and send you some nasty letters).

Read this thread and consult a lawyer before you take action. Because you have a mortgage they will go after you more heavily than someone who has paid off their timeshare and has decided to stop paying Maint Fees.

https://tugbbs.com/forums/index.php...paying-maintenance-fees-what-happened.296893/

Once you are educated on this and with the review of the lawyer, you can contact HGVC and offer to give them back the deed in lieu of foreclosure. If they refuse, then HGVC will have to go through the cost and delays of foreclosure and all they get in the end is the timeshare back on their books. So I would imagine HGVC would have an incentive to take you up on your offer to save the cost and hassle of foreclosure. If your mortgage is with HGVC, then it is really easy for them to take it back. If it is with a bank, there may be serious issues because the bank will want to be made whole on the loan.

YMMV. Speak with a real estate lawyer familiar with Florida laws as we are not lawyers here on TUG. (but now you know to ask the lawyer about non-judicial, anti-deficiency laws in Florida.) BTW...it also applies to timeshares based in South Carolina and California but not Nevada and Hawaii.

 

[CalGalTraveler]

@GTLINZ It sounds like you got a lot of value out of your TS. Someday we will be in your situation and hope it goes as smoothly as your exit. We still have the travel bug, haven't retired yet but hope to use our timeshares to travel well into retirement. Good luck!

 

[brp]

@GTLINZ It sounds like you got a lot of value out of your TS. Someday we will be in your situation and hope it goes as smoothly as your exit. We still have the travel bug, haven't retired yet but hope to use our timeshares to travel well into retirement. Good luck!

Our goal as well. We will need more timeshare, not less, once we retire

Cheers.

 

[RX8]

So, I know it is possible for people to really enjoy their TS ownerships but for me, I just need to really get out. Not going to bad mouth any of it - I just personally need to get out. Unfortunately, there does not seem to be a certain path to that end following all the reading I have done here. So, if GTLINZ and bogey21 are still on the site and following - anyway you could expand on how you transferred and divested yourself of your TS holdings other than bankruptcy or nonpayment routes? Thanks in advance!

Timeshares are best served loan free. It is understood that not everyone has surplus funds to pay cash for a timeshare. That is why it is preached often here to buy resale which saves one thousands of dollars and avoids having to finance via a loan. Since most timeshares are worth near zero (with some exceptions but even those are a fraction of retail pricing), not having a loan makes it 100% easier to divest yourself when the time comes.

 

[RCE-Ohio]

Thank you CalGalTraveler for the great information. I will follow up on your suggestions!! RX8 - yes, I have some loan to pay off and know I can't really do anything until I do. That is in the works as that in itself is an extra expense. Unfortunately we were newbies when this was purchased and didn't really understand the market. The price paid for not educating myself upfront.

I really appreciate when people take the time to respond. It helps a lot!!! Thanks!

 

[bogey21]

So, if GTLINZ and bogey21 are still on the site and following - anyway you could expand on how you transferred and divested yourself of your TS holdings other than bankruptcy or nonpayment routes? Thanks in advance!

At the end I owned six, all Fixed Week/Fixed Units at Independent HOA controlled Resorts. I sold one for next to nothing; gave two away; and did Deed Backs on three (the mix could have been slightly different but if not correct is close). The beauty of it was that my total all in cost for the six of them was something like $8,000 and I used them for years. The moral of my story is buy right and be prepared to get nothing back...

George

 

[GT75]

Our goal as well. We will need more timeshare, not less, once we retire

This is the current stage of our lives. A big part of my time is spent on planning for a future trip (mostly in HGVC TS), booking the trip and of course then taking the trip. It really is a tough life to live.

 

[dayooper]

This is the current stage of our lives. A big part of my time is spent on planning for a future trip (mostly in HGVC TS), booking the trip and of course then taking the trip. It really is a tough life to live.

I’m a relative newbie to TSing. I have found I LOVE the planning of the vacations! It’s like a puzzle to fit everything together and the best payoff is the vacation!

 

[CalGalTraveler]

Thank you CalGalTraveler for the great information. I will follow up on your suggestions!! RX8 - yes, I have some loan to pay off and know I can't really do anything until I do. That is in the works as that in itself is an extra expense. Unfortunately we were newbies when this was purchased and didn't really understand the market. The price paid for not educating myself upfront.

I really appreciate when people take the time to respond. It helps a lot!!! Thanks!

Glad it helped. Please pay it forward and report back here on TUG on how it turned out. We are trying to track data points to help future owners.

 

[brp]

This is the current stage of our lives. A big part of my time is spent on planning for a future trip (mostly in HGVC TS), booking the trip and of course then taking the trip. It really is a tough life to live.

Yup. mrs. brp actually works at work. I work as well, but spend a reasonable amount of time planning trips. For example. DVC books 11 months out, so we book 11 months out. And 9 for HGVC, particularly NYC. Gaming flights and other hotels is also part of the plan. Getting and using credit cards for maximum benefit adds spice. Always want to get flights for less, while maximizing status-earning-per-dollar, get more back from a credit card than I pay in fees, etc. Some folks I talk with think of it as a waste of time. For me, it's one of my hobbies

Cheers.

 

[GT75]

For me, it's one of my hobbies

I agree completely, I think that this is the best way to look at TS. With our travels, we are always hearing comments from family & friends, "you guys are always traveling" or "where/when are you going next?"

 

[mjm1]

Yup. mrs. brp actually works at work. I work as well, but spend a reasonable amount of time planning trips. For example. DVC books 11 months out, so we book 11 months out. And 9 for HGVC, particularly NYC. Gaming flights and other hotels is also part of the plan. Getting and using credit cards for maximum benefit adds spice. Always want to get flights for less, while maximizing status-earning-per-dollar, get more back from a credit card than I pay in fees, etc. Some folks I talk with think of it as a waste of time. For me, it's one of my hobbies

Cheers.

We must be related or at least kindred spirits! Sounds just like me. Enjoy!

Best regards.

Mike

 

[brp]

We must be related or at least kindred spirits! Sounds just like me. Enjoy!

Best regards.

Mike

As an example of the craziness: we need 100K miles and 15K Elite Qualifying Dollars each year for our AA status. At this point, I have already booked 83K miles and 11K EQD...for 2020!

I agree completely, I think that this is the best way to look at TS. With our travels, we are always hearing comments from family & friends, "you guys are always traveling" or "where/when are you going next?"

Each Monday at work, people ask "where did you go last weekend." It is a reasonably uncommon answers for me to say "actually, we were home last weekend."

Cheers.

 

[Talent312]

"May the road rise up to meet you
... and your ride be forever downhill.
May the wind always be at your back.
May the sun shine warm upon your face,
and rains fall soft upon your fields."

-- From an old Irish blessing


.

 

[GTLINZ]

Interesting how this post got new life ... I appreciate the well wishes and am enjoying all of the comments because I can relate so much to planning and enjoying our trips. The planning is a lot of the fun to me also. It is just with our other options we did not need both timeshares anymore. I do also enjoy maximizing what we own - there is little point to me in owning if you don't derive more value than what you pay in - because you also have less options with cancellations and a financial responsibility tied to ownership with the MFs.

We do still own with Hyatt and I was able to use the meager proceeds from the HGVC sale to increase our HRC points. That purchase is still in closing after passing ROFR. Once that ownership is locked in we will likely give away (pay it forward) our other Hyatt EOY unit. I will post it on TUG once we are ready. We sold the HGVC thru Judi K which made us less money than doing it ourselves but it got moved before MFs were due which made it worth it.

TS ownership for us has been an interesting saga.

We originally did not want to own a timeshare. We got the HGVC invitation after building up some HH points and went on a whim - and we just loved the flexibility of the points system and we loved the HGVC Tuscany village but I was not going to buy without researching. But I did buy a sampler package so we could travel HGVC again and have time to figure things out. My in-laws owned a Marriott that went from $550 a year in the nineties to over $1200 within 7-8 years so I knew you are always at the mercy of the ownership group. And the Marriott unit became a problem once my in-laws were gone. We were able to rent it for a loss but kept the MFs up and simply closed the estate to get rid of it (nobody can be forced to take property). When the next MF bill came due, I returned it with both death certificates and proof the estate was closed. It was going to cost a lot of money to get the title changed in SC and the unit was offseason and not worth much. So you can see why I was not keen on owning a TS.

Well we came home from the Tuscany trip, I did research asap and found Tug - and I rescinded our sampler so we could use it towards buying resale. I figured if we bought Platinum it would always have some value unlike the lower season units the developers love to burden unsuspecting prey with. We also live in GA and FL is an easy trip for us - so I knew we would use our points. The crazy thing is I bought thru hilton resale (from JoAnne Peters) for the going market price - and that loophole got shut down after we bought. So we ended up owning something I never thought we would own but I also felt like with the flexibility HGVC has I could extract value from it. We also travel offseason mostly when the weather is the best so the points tend to go farther.

I always wanted a Hyatt unit and did a few exchanges with and rentals from another tugger who owned Hyatt - so when I got the chance a few years ago we bought a inexpensive gold 1300 point EOY Hyatt unit. It allowed us to reserve a studio unit thru II every year at our favorite beach location and have enough points also for 1 extra 4 night HRC studio reservation each year (II is easy, but due to EOY the HRC reservations are tricky but worked out so far). And now as a member of II I like it much better than RCI - especially the getaway prices. They gave me access to top notch Orlando resorts which made it easier to let go of the HGVC unit.

Tug is such an invaluable resource - knowledge is power. I pay the dues yearly to help support it - especially since it has helped me so much. So keep enjoying your trips as long as you are able !

 

[silentg]

We are down to 4 weeks of timeshare. At one time we had 7 too much to use productivity ( DH didn’t want them) We bought our last Timeshare and will be using it first time this year. The others we use and exchange thru TUG or RCI. I’m starting to notice extra fees on exchanges thru RCI ex. Activities fees, housekeeping fees on top of security deposit and exchange fees.
Starts to add up for a week vacation.
Also RCI website is always messed up, slow and hard to navigate.
I much prefer the TUG exchanges or staying at our own timeshares.
Silentg