Diamond Resorts reduces owner benefits again!

Forum: Timeshare Companies

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By codys33

Looking for help!

Thank you Linda!!!!

Avatar for codys33 codys33

4 months ago
May 25, 2017

By bradfordl11

Diamond Resorts reduces owner benefits again!

You are 100% wrong.

Look up there public reports, they buy $8,000,000 a quarter back. If you own something they don't want than it's worth nothing. Hawaii or Daytona Beach your set. Orlando. Worthless.

Go read the reports. It's public information. The CEO stated it on the 3rd page of their 2016 earnings call.

Again, this site just annoys me. It's a lot of people trying to steal TImeShare from others for a dollar when a lot of it is worth 20,000. This site is weird. I post truths and they get taken down. Just watch. This will be taken off in 24 hours. But look it up. It's online. FACTS.

Avatar for bradfordl11 bradfordl11

4 months ago
May 29, 2017

By irenep59

Bradford I just read your post from three months ago re the billion dollar class action and the $800,000 AZ AG settlement. Jeff Weir has written about the billion dollar class action previously posted filed by one of the oldest law firms in Nevada, Albright Stoddard Warnick & Albright in federal court. It is for US Collection only and the plaintiffs had to be 60 years old or older at the time of signing. The 55 page complaint is linked in our article http://insidetimeshare.com/1billion-law-suit-diamond-resorts-international/

The billion dollar class action has nothing to do with the $800,000 you mentioned of which $150,000 in fees went to the AZ AG. The AG issued an Assurance of Discontinuance 37 pages as a result of over 400 complaints filed with the AZ AG alleging Diamond violated the Arizona Consumer Fraud Act. As a result of the AOD, Diamond has launched a program called CLARITY offering better disclosure. The AOD states sales representatives cannot deviate from written sales materials but it doesn't seem to be very strictly enforced according to comments our Advocacy group has received.

Avatar for irenep59 irenep59

4 months ago
May 29, 2017

By irenep59

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.

Avatar for irenep59 irenep59

4 months ago
Jun 03, 2017

By saram280

It's not as hard to get out of these contracts as consumers think. Most companies are putting it in their budget to pay for cancellations now. I know my old site budgeted for a few million because they know there are MANY companies now that are assisting with cancellations.

The reason many companies often collect fees upfront is because no one wants to pay someone to get them out of their contract...... a lot of people feel as though they lost twice if they have to pay ANOTHER fee just to cancel something they have paid a ton of money into. Once the consumer is free and clear of their deed or contract they fail to pay the company that helped cancel their contract. Just being honest of how it works and why some companies ask to be paid upfront.

Whats even more sad is when we get calls that people want help SELLING their timeshare. That's like selling someone a lemon car. Many timeshares are for list for sale for $1 on eBay because they just want relief from MF.

Timeshares aren't necessarily bad, it's just people aren't properly taught how to purchase them.

Avatar for saram280 saram280

3 months ago
Jun 22, 2017

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