Bluegreen Now Offers Payment Plan for MFs

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

Someone on the Bluegreen Yahoo group has posted the information that, although this was not an option in prior years, Bluegreen owners now have the option of a payment plan to pay their Maintenance fees. Don't know the details or if there's a surcharge, but even so IMHO it's a step in the right direction.

"Thank you for contacting Bluegreen Corporation.

We certainly understand your concerns regarding payment of your Maintenance Fees and we would like to advise that payment plans are available so you may pay your Maintenance Fees over time. To set up a payment plan, it is necessary to contact our Financial Services department directly at 800.456.CLUB (2582). Hours of operation are Monday through Friday from 8:30 a.m. to 5:30 p.m. ET. We look forward to providing you with continued service and support.

Sincerely,

Christie Bunch
Owner Communications"

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Interesting option....I have it with Wyndham and it is a nice alternative.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

In this economy more associations should be thinking about this option.

Sure would stabilize things a bit.

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

Agreed. Historically 6% of owners bail on BG's MFs -- right now it's 11%, so offering a payment plan is a logical response. I'm wondering if they're going to do anything about resales - Jim (Boca Bum) seems to think they will, and that's something else that would improve the situation for those struggling to pay their fees in this depressed economy.

While you can't please everyone, and I'm no fan of their sales force, Bluegreen does seem to try to be fair to all and is willing to try new things that may help its owners. There are still people who grumble about the fact that you can make partial week reservations 11 months out, but IMHO that change benefited more people than it inconvenienced. Mind you, I doubt we would have bought in without that option. But it does seem to have benefited all in the long run, in that more units are filled more nights.

[VA_Traveller Senior Member Find all posts View Profile Close VA_Traveller]

Agreed. Historically 6% of owners bail on BG's MFs -- right now it's 11%, so offering a payment plan is a logical response. I'm wondering if they're going to do anything about resales - Jim (Boca Bum) seems to think they will, and that's something else that would improve the situation for those struggling to pay their fees in this depressed economy.

While you can't please everyone, and I'm no fan of their sales force, Bluegreen does seem to try to be fair to all and is willing to try new things that may help its owners. There are still people who grumble about the fact that you can make partial week reservations 11 months out, but IMHO that change benefited more people than it inconvenienced. Mind you, I doubt we would have bought in without that option. But it does seem to have benefited all in the long run, in that more units are filled more nights.

Agree, this program favoured people that had more points. With the econ and ppl trying to make things stretch, stays of less then a week are becoming the norm. I hated that change, as my original purchase was 8K, and it was just before the change. So I bought thinking I could book partial weeks 11 months out, then that rug was pulled out from under me. I was glad to see it come back.

[SpecialA Junior Member Find all posts View Profile Close SpecialA]

Forget payment plan, I want them to offer take it back

My parents own bluegreen never use their points. Do you think they will ever offer buy back program.

[Hobbitess Senior Member Find all posts View Profile Close Hobbitess]

No idea about the buyback, SpecialA, but there aren't many TSs that do, so I wouldn't expect it. Boca Bum, who is the BG expert around here and usually has a pretty good grasp of things, believes BG will be doing things the next few years to improve resales, but doing direct buybacks was not on his list. Buying back cheap points on the open market was, I believe, but to my knowledge they aren't doing that yet.

If you just want to get rid of it, I've seen people offer BG points for $0-$10 (total, not per point) on TUG within the past few months that were snapped up within a few days. I'd probably wait until spring to list them myself, since people have just paid their MFs and Christmas is coming up and all, but it is still possible to sell them if all you want to do is get rid of them.

If your primary concern is inheriting the unwanted points you should be able to avoid that. I couldn't find the thread I wanted that explained in detail how to avoid inheriting a TS, but this one briefly discusses it:

http://www.timeshareforums.com/forum...timeshare.html

One thing I found interesting about that particular thread is the fact that sometimes, when the direct family didn't want a TS, someone else in the family did. Which makes sense when I think on it. We're not technically in the market for BG points, but if we had relatives who wanted to get rid of theirs, we'd take them off their hands. If your parents aren't using the points anyhow, you might see if anyone trustworthy is interested in using them for free, and you might end up with someone willing to take them off your parents' hands.

We never would have bought into Bluegreen if someone hadn't offered us an essentially free stay at a BG resort. All we knew about were traditional weekly TSs - the guy who gave us our week at Bluegreen had traded into it -- but once we found out about the points system we wanted in. So just because BG isn't a good fit for you or your parents (the guy who gave us the BG week was appalled that we went for points and tried to sell us on his style of TSing), doesn't mean it's not for everyone.

Best of luck.

[vintner Super Moderator Find all posts View Profile Close vintner]

A buy back program would (possibly) be a profit market if done right. I know it won't happen, but....

BG sells points for $4.
If BG bought them back at 50 cents or $1, and then resold at the $4, that is a large return without spending any money for development. It also reduces the number of points available on the resale market, which makes their new points more valueable.

Unlike buying most items (think car) those points are not going to drop in price because of wear and tear. A point is still a point. It is still the same in 2000, 2005, 2010, etc. The realistic price of a point is in the area of 50 cents.

My opinion anyway.

[stevec Member Find all posts View Profile Close stevec]

They don't have the money to buy back though

[1950bing Senior Member Find all posts View Profile Close 1950bing]

What do we have here ? Another way to seperate more money from owners all in the name of wonderful timesharing !!
People have posted here if you have to finance a timeshare you should walk away because it is too much a hit on you bank account. Now they have figured out a way to get you to agree to it all year long ! That's great !
Fee ? You betcha. Anything to do with timesharing is hooked to fees hooked to your money pouch. I thought they had thought of everything but NO, they got more. One of the big selling points was low maintenance fees, cheap to keep. No more, now you put them on a payment plan. Why would anyone sign up to finance something that will come along every year and be higher than the year before? Sounds like a constant sucking sound.
Timeshares a great value ? I thunk NOT.
So glad I dumped mine six and a half years ago. Enjoy !!!!

[motomem Senior Member Find all posts View Profile Close motomem]

I would think BG already has a lot of inventory to sell. If anything they might take it back for no payment, then entice buyers with free extra points using those they took back at no cost. The points would go to someone that wants, and can, pay the maintenance fees.

[stevec Member Find all posts View Profile Close stevec]

I would think BG already has a lot of inventory to sell. If anything they might take it back for no payment, then entice buyers with free extra points using those they took back at no cost. The points would go to someone that wants, and can, pay the maintenance fees.

Dream on