More Hidden Risks In Timeshares

Our Comments: One of the many hidden risks with timeshares is that if something goes wrong with the building, you may be completely out in the cold. Take this news article for example:

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Several time-share owners of the now defunct Royal Oasis resort are talking with lawyers and plan to file a class action suit.

Among those expected to be named in the suit are resort owner Driftwood Freeport, David Buddeyemer, president of Driftwood Freeport Limited, and Lehman Brothers.

The situation is leaving a bad taste in the time-share owners' mouths and a terrible impression on the government of The Bahamas...

Fifteen months ago, the Crowne Plaza Golf Resort and Casino at the Royal Oasis closed down, reportedly for much needed repairs after Hurricane Frances in September 2004.

The closure forced the lay-off of some 1,300 employees and subsequently the time-share arm.

With no word from the timeshare resort for several months regarding a pending sale or reopening of the resort, and virtually stuck with a time-share point system that is useless to them, several owners are threatening legal action... Full Article