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Scam artist must pay back 11 8 million

Californian - ... his family by purchasing properties in Idaho and California in his own name, remodeling and renovating the properties, purchasing elaborate home furnishings and landscaping, country club and golf memberships, a 2006 Ferrari, a large boat, a timeshare ...

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.