Exit Program ??

[pj@vdp]

Hi  my wife and I just bought into a "Fractional Onwership" of a 2bdrm in Puerto Vallarta, Jalisco, Mexico  on Nov.11th.  When we got home from or honeymoon two weeks later, we releaze this is not really a good investment, we paid a downpayment of $9600.00.   So when we called the head office in San Diego and told them we wanted to cancel the contract in a reasonal manner, they said they would contact the resort in Mexico and have them call us.  They said we won't get any money back but suggested we ask to be entered into a "Exit Program".  When I asked what that ment, they said our resort will explain everything.      Has  anyone ever heard of this "Exit Program" business    

[Eric B.]

Never heard of an exit program. However every resort has a "cool down period" or cancel clause in the contract. Some resorts give only 3 days and some give 10 days. I would take a look at your contract and look at the rescind clause. Most likely you are stuck with the timeshare if your beyond your rescind period.

Hi  my wife and I just bought into a "Fractional Onwership" of a 2bdrm in Puerto Vallarta, Jalisco, Mexico  on Nov.11th.  When we got home from or honeymoon two weeks later, we releaze this is not really a good investment, we paid a downpayment of $9600.00.   So when we called the head office in San Diego and told them we wanted to cancel the contract in a reasonal manner, they said they would contact the resort in Mexico and have them call us.  They said we won't get any money back but suggested we ask to be entered into a "Exit Program".  When I asked what that ment, they said our resort will explain everything.      Has  anyone ever heard of this "Exit Program" business    

[ivkr81]

Hi  my wife and I just bought into a "Fractional Onwership" of a 2bdrm in Puerto Vallarta, Jalisco, Mexico  on Nov.11th.  When we got home from or honeymoon two weeks later, we releaze this is not really a good investment, we paid a downpayment of $9600.00.   So when we called the head office in San Diego and told them we wanted to cancel the contract in a reasonal manner, they said they would contact the resort in Mexico and have them call us.  They said we won't get any money back but suggested we ask to be entered into a "Exit Program".  When I asked what that ment, they said our resort will explain everything.      Has  anyone ever heard of this "Exit Program" business    

Were you informed at the time of purchase that you had a period to cancel? Legally, Mexico timeshares must state clearly their cancellation policy. I believe it is five days. If it is not in your paperwork, they sold you your timeshare illegally and you can contact Profeco (Mexican’s Consumer Protection agency) to help you. Their website is in spanish but Google will translate it for you Best of luck!