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Builder behind Manatee subdivisions files for bankruptcy

Bradenton Herald - Levitt Corp. also owns Core Communities, which builds master-planned communities, and owns a stake in timeshare firm Bluegreen. The stock, which traded above a share two years ago, closed at .84 Friday. The company announced it would pursue a ...

Source: http://search.msn.com:80/news/results.aspx?q=timeshare

People interested in purchasing a timeshare are strongly advised to look online at the secondary market listings for the development they are interested in.

Developers put a very large mark-up on new inventory and a new owner will find the resale value of their timeshare to be half or less of what they purchased it for. In the very worst of cases, timeshare resales are virtually impossible and users are stuck paying fees indefinitely.

This is what is commonly known as the "timeshare trap". Sometimes, when it happens, owners can talk to the resort and the resort may be willing to take it back if there is no loan attached to it and the maintenance fee has been paid. Sometimes, there are various charity groups that are willing to accept a timeshare if no loan is attached and the maintenance fee is current.