ILX resorts / possible fraud?
We bought into the ILX group, during one of the famous 'the deals only good right now' episodes. Then, less than a year later, we got a call from ILX. They wanted us to upgrade our bi-annual to an annual. After listening to their speil, and being told at least 3 times during the conversation that our payments would go down, we told them to send the paper work. We filled out the paper work, but should have reacted to the red flag of no lender info.
We had assumed that the same outfit that financed our first purchase would also be the one for this. At a much lower interest rate too. 3 times I was told over the phone that our payments would be $155/mo. for 7 years, and if we kept paying our current payment of $208/mo, we could pay this off in 5 years. We signed.
Then, we waited for something from ILX pertaining to payments, like to who, where, simple stuff like that. All the time, we were getting unsolicited stuff from Bank of America, who we were not doing business with(or so we thought, read on), and were throwing it in the junk mail bin.
One day we get a call f rom Bank of America, stating we were behind 3-4 months payments! Seems that somehow, and I know neither one of us approved it, we had a BoA line of credit for our loan! Suprise!
After numerous calls to BoA, and ILX, we found out that BoA certainly did hold the paper on the upgrade. Also, the $155/mo payment we were told was for 7 years turns out to be a promo, only good for 6 months.
Now, our payments are over double what we were quoted.
Again, neither of us approved a line of credit from BoA. I've talked to ILX, was told our payments would go down to the promised $155/mo, but I just opened my latest bill, and it's still over double what we agreed upon.
I'm now waiting for someone from ILX to call back after they once again talk to BoA.
If they can't/won't put the payments back to what they promised, with the interest rate they promised, the next question I'll ask them is the phone number for the local law enforcement office so I can file a fraud charge.
The resort is beautiful, but certainly not worth the hassle.
I, at this time, cannot recommend anyone to buy from ILX.