uss2defiant
newbie
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- Jan 1, 2017
- Messages
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Hi all,
Thank you in advance in reading this post. It's a long one.
At the DRI Vegas Cancun resort.
Wife met the customer relations rep, apparently not sales, to complain and do a review.
Apparently before they go public they are trying to make owners happy.
We are cureently silver level at 17,500.
Apparently with 7 different contracts (unbeknownst to us, we thought it waswjust one contract) as my wife, premarriage bought points at different times with the first one bought, maybe at 2011.
Problem they highlighted:
1.According to them, the cost analysis in 10 years with what we currently have is that we would be paying some total of approx 350k.
2. Apparently 6 of 7 of the contracts have prepayment penalty.
Solution:
They brought in this equity trade program from last September which ended that since we would be paying as much as some one in gold tier we might as well restructure all 7 contracts into one and purchase additional 12,500 points to make it a total of 30k points. The purchasing of 12,500 points would be about 40k dollars. That is on top of our existing loan.
With this in 10 years we would only be paying $150k vs $350. Also, so called insurance is a new feature so special assessments would be passed to us. I wasn't there so I don't know the math behind it.
I don't like the timeshare as there is no value.
Here is where we are at.
1. We felt that this was a better option and went with the equity trade but we will be rescinding this new purchase.
2. We called the DRI finance on the phone directly as the people here gave excuse that they could not provide any information regarding our previous 7 contracts. We thought it was just one contract as there was only one loan contract. We found out, as we suspected, that there is only one loan from DRI and there is no prepayment penalty. We also found out directly that the maintenance fee is just the annual base + the associated maintenance fee per point would be.
Questions:
1. Is there such a thing as prepayment penalty with individual contacts even though it is just one loan?
2. Is the info from the finance department correct or the associates at the resort correct?
2. Does 7 contracts mean 7 different deeds? I don't think I can easily sell 30k points together as opposed to 7 smalled chunks if individual contracts mean individual deeds. I was able to reach someone at SMTSN today and she said that it is 7 separate deeds and it would be easier to sell as opposed to a single 30k points.
Thank you.
I just don't know who to believe anymore.
Thank you in advance in reading this post. It's a long one.
At the DRI Vegas Cancun resort.
Wife met the customer relations rep, apparently not sales, to complain and do a review.
Apparently before they go public they are trying to make owners happy.
We are cureently silver level at 17,500.
Apparently with 7 different contracts (unbeknownst to us, we thought it waswjust one contract) as my wife, premarriage bought points at different times with the first one bought, maybe at 2011.
Problem they highlighted:
1.According to them, the cost analysis in 10 years with what we currently have is that we would be paying some total of approx 350k.
2. Apparently 6 of 7 of the contracts have prepayment penalty.
Solution:
They brought in this equity trade program from last September which ended that since we would be paying as much as some one in gold tier we might as well restructure all 7 contracts into one and purchase additional 12,500 points to make it a total of 30k points. The purchasing of 12,500 points would be about 40k dollars. That is on top of our existing loan.
With this in 10 years we would only be paying $150k vs $350. Also, so called insurance is a new feature so special assessments would be passed to us. I wasn't there so I don't know the math behind it.
I don't like the timeshare as there is no value.
Here is where we are at.
1. We felt that this was a better option and went with the equity trade but we will be rescinding this new purchase.
2. We called the DRI finance on the phone directly as the people here gave excuse that they could not provide any information regarding our previous 7 contracts. We thought it was just one contract as there was only one loan contract. We found out, as we suspected, that there is only one loan from DRI and there is no prepayment penalty. We also found out directly that the maintenance fee is just the annual base + the associated maintenance fee per point would be.
Questions:
1. Is there such a thing as prepayment penalty with individual contacts even though it is just one loan?
2. Is the info from the finance department correct or the associates at the resort correct?
2. Does 7 contracts mean 7 different deeds? I don't think I can easily sell 30k points together as opposed to 7 smalled chunks if individual contracts mean individual deeds. I was able to reach someone at SMTSN today and she said that it is 7 separate deeds and it would be easier to sell as opposed to a single 30k points.
Thank you.
I just don't know who to believe anymore.
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