Consumer complaint received 2017-09-22
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — 
Company: BARCLAYS BANK DELAWARE (RI)

In XX/XX/XXXX we went to a Timeshare presentation in California and bought the smallest points timeshare they had available, XXXX points. We were told we had to go to a new member orientation within 90 days that would explain our benefits and membership. To guarantee we go they require a {$49.00} deposit and we would receive the money back when we go to the presentation. Also for going/buying a timeshare we received a 3 day/2 night at a resort where the orientation would be held. After the presentation we were not given our money back we were given a XXXX gift card. 
We went to the orientation in XXXX, VA on XX/XX/XXXX. We were met by XXXX our rep ( later find out she is a sales agent ) She also has us bring our XXXX son with us, I asked about the daycare in the pamphlet they had and she said its in another building and most people dont want to bring their children. She tells us about some of our benefits, then proceeds to tell us that XXXX was just recently bought out by XXXX, and pricing will be changing. With this being the case, our XXXX points really cant do much. Also, they could only guarantee the purchase rate of {$6.00} per point for the next 18 months, after that XXXX will be raising the price. 
The sales manager XXXX came in at this time to explain that we got a deal when we bought the last timeshare and we have equity in our points ( something that never happens according to him ). And because of that we could buy an extra XXXX points for only {$3.00} per point. We were slightly hesitant because we just made a major purchase a few months ago and are now told that what we have doesnt mean anything. The thought in the back of my head was the sales person in CA. had to know they were being bought out, now we are stuck with useless points. 
We were then told about the Barclays credit card which is a way to help offset some of the assessment/maintenance fees. I then asked at that time if something can be done about the assessment fee that I already paid, because I did n't want to double pay. XXXX said he would look into it. We had our credit checked and we were approved for the Barclays card which would give us 0 % interest for 6 months that we could put the down payment of {$2500.00} on. 
Then XXXX told us the additional money would go through a company they use however the payment would be {$390.00} a month for 10 yrs. because they have very high rates, he then added however with our credit scores we would be eligible for a loan with XXXX and their rate is 6 %. That would drop our payment to {$250.00}, which is more affordable. We decided to move forward because we felt like it was the best option, we could handle a payment of {$250.00} and it would be better than basically throwing the XXXX we just spent on the original XXXX timeshare points away. Again, we were told that prices were rising, our current amount of points were useless and XXXX went on about what a great deal we were getting with this purchase. We figured we would take the money out of savings for the next two years until our daycare bill went down. We honestly felt like we had no other choice. 
We were then brought over to XXXX the QA Rep, to go over the paperwork. We had to stop several times, because she was explaining things to us very differently regarding how the Barclays card worked and it paying the assessment fee. We even had XXXX come back and explain it all again and he explained it wrong in front of XXXX and XXXX had to correct him. Now the Barclays card wasnt going to pay the assessment fee like we planned, this was right around the time of them telling us that we could use the bonus points that we received from this purchase to go to Hawaii on a dream vacation. So, we were very excited about that, and we were trying to look at the good that will come out of this. Us going on the dream vacation, the extra benefits that the other timeshare didnt give us, more points to travel with. We could deal with paying the assessment fee differently than what was originally explained. I also confirmed with XXXX at that time that we were going to look into crediting the maintenance fees I had already paid, so that could help with the first years assessment cost. Also during that conversation, we were told that the deal we were getting at {$3.00} per point was only good for that day and if we decided to come back the deal is off. We felt very pressured, defeated, overwhelmed, confused. Not to mention we had been there almost 4- 5 hours with our XXXX son. We decided to go forward because we could get the payment down when we refinanced the loan with XXXX and we were concerned that we had wasted money on the previous timeshare purchase. When we got home from vacation, we had my sons birthday party, I had a work trip, so by the time I had a chance to look into refinancing the loan with XXXX it was past the rescission period. XXXX does not offer a 6 % rate for a 10-year Timeshare loan ( it is not that we did n't qualify, it is NOT a product that they offer ) Nor does any other lender. We were okay with refinancing with another lender. We also looked into taking out Equity on our house to lower the payment, however we just bought our house so we didnt have enough Equity. 
We had not received any correspondence in regards to the assessment fees from XXXX. There was contact information in our sales paperwork for XXXX, the VP of Sales, stating he will respond to every call or email within 24 hours. I emailed him on XXXX/XXXX/XXXX. I also called him a few days later saying if I did n't hear back I would contact the BBB. He left me a voicemail on XXXX saying he would contact XXXX. XXXX called me back on the XXXX said that he is actively working on the assessment fees and he more or less got reamed out for letting us know about the 6 %, and also to get the 6 % he would have to high up in the financial chain. I told him to proceed with it. I have several texts in this time going back and forth with XXXX. I let XXXX know via text onXX/XX/XXXX that I am done and I want my money back from the timeshare. He said " my VP of Sales will be reaching out to you this afternoon to discuss options. '' I did not receive a call. I emailed the VP on XX/XX/XXXX and I also called him on XX/XX/XXXX. I saved all my text messages from XXXX. XXXX never returned any email or call in his 24-hour promise. Spoke with Finance XX/XX/XXXX and XX/XX/XXXX.  Spoke with XXXX in Hospitality on XX/XX/XXXX and received email on XX/XX/XXXX, emailed her back twice on XX/XX/XXXX received an email back from her stating they are not willing to do anything to cancel the timeshare. XXXX has also failed to respond to the BBB. Our next loan payment is due on the timeshare and on the credit card ( we are currently overdue on the credit card ) This is going to start hurting our credit. We have been actively trying to resolve this since the beginning of XX/XX/XXXX.