The La Bear Fractional Ownership club in Michigan seems to be having some financial problems. It appears as if they did not sell the majority of their available properties. I wouldn’t think the individual owners should have that many problems. The bank is likely to keep the association up and running while they come to grips with their financial loss on the project. Here is an article written by a local reporting agency.
http://www.leelanaunews.com/drupal/?q=node/863
I expect we will be seeing more of these in the months to come.
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