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Re: Diamond Resorts reduces owner benefits again!

Bradford: Below from Diamond's CLARITY document in response to the Arizona Attorney General Assurance of Discontinuance. According to National Mortgage News, DRI is expected to have the highest foreclosure rate in the industry this year - 18%. They have one of the longest foreclosure periods 180 days so if their foreclosure period were more in line with their competitors at 60 to 90 days the foreclosure rate would be much higher. What you are referring to is not a buy back program. When people foreclose or surrender it's called recycling inventory because points taken back are resold for full value as stated in the 2016 annual report. In the annual report this was explained as a benefit to stock investors when the company was public. This is the official statement from CLARITY: DIAMOND DOES NOT OFFER A BUYBACK PROGRAM AND MAKES NO REPRESENTATION REGARDING TAX DEDUCTIONS, REFINANCING OPPORTUNITIES, OR THAT THERE WILL BE A SECONDARY MARKET FOR THE SALE OF POINTS. POINTS DO NOT TYPICALLY APPRECIATE IN VALUE. (form 31827.0117) The 64 members of the Licensed Timeshare Resale Broker Association will list any major timeshare except Diamond due to their restrictions on use of seconary points. You can contact any of the members to verify. Some will list deeded weeks but I'm told even that market is weak.