Mystic Dunes now managed by Diamond Resorts

Been an owner for year. I can't get rid of my timeshare and the maintenance fees are astranomic8. I have been deployed with the military and haven't been able to even use it but yet I still have to pay for it. I can't even give it away. How can I get in on this law suit. The place hasn't changed in years since I bought it yet the festival keep increasing. Can someone help

Hi I just sold back my unit to Diamond resorts because the maintenance fees were going higher and higher. I would not pay any substantial amount of money these days for a time share.

Diamond has high maintenance fees.

Be careful, and good luck.

Tell diamond you want to give it back, but you need to be current with taxes and fees. Get caught up as soon as possible with your fees before you get further behind and YES it can afect your credit they can report you as taxes delinquent. Be careful

Did you "sell it back" or "give it back" as you mentioned one in one post and the other in your second post. How long was the process for you to have them take it back? Can you share a few details? Thank you.

Diamond and Westgate are two timeshare companies that have restricted the use of points purchased on the secondary market to the effect of having eliminated the secondary market. According to TUG, Diamond is accepting 93% of voluntary surrenders. Why not? They take back the contract and resell for full price. Transfer agents work in cooperation with the developer charging between $3500 to $7000 to guarantee a deed back. The contracts are bundled and resold to developers. Some transfer agents take your money and dissolve the LLC leaving the owner on the hook for the maintenance fees after paying the transfer agent. Listing agents are worse. I'm the kind of person that would not wish Diamond points on my worst enemy, so my conscious will not let me list and on a rare chance sell to the unsuspecting who doesn't know any better. Six million Diamond stock shares owned by insiders bought at $15 struck at $30 when Apollo bought the company. Insiders make an ungodly amount of money while us peasants pay the maintenance fees year after year or run the gauntlet of foreclosure or surrender. Twenty five years of timeshare ownership without a question or complaint until Diamond bought ILX.

Not one member of the Licensed Timeshare Resale Broker Association LTRBA will buy or sell Diamond non deeded points because they become worthless the moment the contract is signed. They will buy and sell all of Diamond's competitors weeks and points. Given the fact that Apollo Global Management, founded by the same banker that founded Drexel Burnham Lambert of Michael Milken junk bond fame, bought Diamond, timeshare has a new version of junk bonds. It's pretty bad when you are deceived by READING the contract that says you can sell points. In my opinion, Diamond resorts is white collar crime at its finest.

Hi! I also want to sell back my timeshare as the it's paid off, but the maintenance fees are now $1300 and were $600 when I bought it. Do they actually buy it or just allow you to give it back? Thanks

In the same boat we bought in 2001 paid in full but can't afford fees anymore. Can't give this away any way out?

Diamond resorts has no secondary market. You can list any major timeshare with a member of the Licensed Timeshare Resale Broker Association except Diamond Resorts due to restrictions Diamond places on the use of secondary resorts more onerous than their competitors. You can request a relinquishment but it is usually based on age or medical or financial hardship as the contract is perpetual. We have several advocates now assisting members compose their request for relinquishment, or refund or loan cancellation (if based on deceit or bait and switch). Below is the link to our advocacy Facebook and mission statement. Out of 61 formal complaints and request for voluntary surrender filed we have received 18 positive outcomes which include relinquishment, refunds or loan cancellations. "We seek to provide Diamond Resort members a way to proactively address membership concerns; to advocate for timeshare reform; to obtain greater disclosure from the company; to advocate for a viable secondary market; and to educate prospective buyers." All are volunteers - members helping members.

https://www.facebook.com/groups/DiamondResortsOwnersAdvocacy/

Does anybody have any information on the law suit ?

I was able to deed back my timeshare just about 20 months ago. I had no special circumstances, no hardship or health issues but I called and discussed my position and I was offered a deedback. I was skeptical at first and it took a few back and forth document packages because everything is timed but it worked, I am free and clear. Their communication through the process was horrible, (not sure I expected any better), which fueled my skepticism but in the end it worked out.

If you have no mortgage, are in good standing, call and ask for a deedback, if at first you don't succeed, keep calling weekly. Good luck!