Bluegreen Corp The BG property was purchased 12/06/06 for $7,380.00 at 15.9% interest. The monthly payment is $123.00. The payoff as of today 08/17/10 is $5951.40. $81.76 is used for interest and only $41.30 is us , Internet
This is a complaint against Bluegreen Corp. The BG timeshare was purchased 12/06/06 for $7,380.00 at 15.0% interest. The monthly payment is $123.00. The payoff, as of today, 08/17/21010, is $5951.40. $82.76 is used for interest and only $41.30 is used toward principal, which was NEVER explained to me at closing. This is clearly a comsumer ripoff. I have never used this property because I could never get the dates I requested or they were not available. Furthermore, I am charged maintenence fees for a product I never used. I have requested several times to be released from my contract but I am told that it can not be done. If I refuse to pay, the property will go into forclosure and will be a negative mark on my credit report. As of June, 2011, I will retire on a fixed income. I can not afford to pay for this worthless BG property. I've made several attempts to sell this property. No buyers and I am always told by BG that I have to put up sellers fees before I can sell. Terrible. I would like to be relieved of all financial obligations, including maintenence fees and a full refund ASAP. I know most contracts are binding, but this a complete ripoff. Can you help me?
1 Updates & Rebuttals
Scarlett
Florida,United States of America
NOT a Ripoff! Your lack of education is not their fault
#2Consumer Comment
Wed, August 18, 2010
As with ANYTHING you finance, most of your payment will go toward the interest and less toward the actual sale price until you have been paying on it for many years (# of years depends on how long you financed for).
That's how it works with ANYTHING financed and your had you asked how much of your payment was being applied to the interest and how much toward the balance, they would have told you.
Your monthly statements may have also advised this.
You were not ripped off in anyway.