Added Risks Without Rewards For Timeshares

Our Comments: Another of the many dangers associated with timeshares. When you take ownership of a place, you take on a lot of potential risks. With most real estate transactions, you take these risks because of the opportunity to receive substantial gains in the property over time. Since this isn't the case with timeshares, you take on all the risks of ownership without the potential of increasing the value of the asset - one more reason why timeshares just don't make sense for the vast majority of people.

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Back in January, The Freeport News learned that several owners were talking with lawyers about a lawsuit against the Crowne Plaza Golf Resort and Casino at the Royal Oasis which shut down in September 2004. The owners cited the reason for the closure was for repairs. However, 18 months and millions of unpaid dollars later, there has been no word from the owners to the 1,300-plus displaced employees.

A number of owners who contacted this daily had still been making the regular payments, despite the resort's closure, out of fear they would lose their money or their points if the resort was to reopen.

One Virginia woman said she paid $12,000 cash for her timeshare and has never received a bill for maintenance fees. Some owners took out loans to purchase their timeshare... Entire Article