The recession has hit timeshare owners hard. Many are now trying to sell their vacation homes, but have instead been confronted with scammers trying to steal their investment. The problem has become so widespread, the florida Attorney General has an entire website dedicated to timeshare resale fraud. Unfortunately, Marcia Baker found it too late.
Baker has enjoyed the one week a year she gets to spend at Branson's Big Cedar Lodge, but the yearly cost has forced her to try and sell her timeshare there. "It's gone up to $950 a year."
Like countless other timeshare owners, the recession has hit her hard, so Marcia posted her timeshare for sale online. Then, the phone started ringing. "You start getting phone calls from people who say they have a buyer. Then they want upfront fees. They say they want attorney fees, escrow closing fees and title search fees and doc checks and stuff like that," she said.