In the News
Orlando Swat Raids Timeshare
Florida attorney, Susan Budowski, a timeshare victim advocate, warns consumers to be aware that with the resurgence of the timeshare industry,timeshare scams will rise with it. According to Howard Nusbaum, President of the American Resort Development Association, a pro timeshare industry association, "the travel and timeshare industry is seeing a resurgence of travel in 2011, terrific news for the timeshare industry."
Attorney Budowski warns consumers this also brings more victims of deceptive sales practices by unscrupulous sales representatives
Budowski adds, "unfortunately many timeshare owners are getting taken advantage of multiple times. I have seen those who have been misled or coerced into buying a timeshare and then later desperate to get out of their contract, attempt to sell their timeshare only to be taken advantage of by a resale company." Evidenced by a recent SWAT team raid of a purported timeshare resale company, Orlando Police Department's SWAT team raided an illegal timeshare resale
Timeshares Still Not an Investment
CNNMoney.com has often sounded the warning that timeshares are a trap. In one article, Bill Rogers, of Timeshare Users Group, said, "You don't buy a timeshare as an investment. You buy it because you want to use it." The article also reminds us the price of timeshares are grossly inflated 35-45% to cover all the hype that goes into getting people to buy them in the first place. Once timeshare owners realize their mistake and try to sell their property they discover a hard truth - unlike other real estate, timeshares lose value rather than gain it over time.
Red Flags About Timeshares
CNNMoney.com has often sounded the warning that timeshares are a trap. In one article, Bill Rogers, of Timeshare Users Group, said, "You don't buy a timeshare as an investment. You buy it because you want to use it." The article also reminds us the price of timeshares are grossly inflated 35-45% to cover all the hype that goes into getting people to buy them in the first place. Once timeshare owners realize their mistake and try to sell their property they discover a hard truth - unlike other real estate, timeshares lose value rather than gain it over time.
Unload Your Timeshare Without Getting Scammed
Florida has historically been one of the top states for timeshare ownership. But the state's attorney general says her office is swamped with complaints about timeshare resale fraud. Since 2009, the AG's office has fielded more than 19,000 consumer complaints on the topic. Now she's trying to do something about it.
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