QM Resorts review: Timeshare / ownership / vacation club membership 1

We were sent a advertising in the mail with a chance to win car, trip or $25, 000 cash, which it ended up being an actual presentation for the sale of vacation ownership in Reno and Tahoe. We actually won a cruise, which we still haven't taken. We were also offered a couple of nights stay, but wasn't able to take advantage of the offer. We were told that if we purchased this timeshare, we would be able to rent it out and make monies to satisfy the maintenance fees and even have some to put in our pockets. They promised that we would make nice monies if we purchased the four (4) weeks, especially during the winter months (skiing) and summer months (families vacationing). We could rent out three weeks and keep one week for ourselves. We were also told that they would purchase Diamond from us for ($46, 000); which did not happen; and the loan would be at 2.9%. So, now I'm stuck with two timeshares and monthly combined payments of $832.00. One of the reasons we purchased was that the maintenance fees were so much lower and the interest rate of the loan was going to be lower also. So, we thought it was going to be a win, win situation. We were actually given a loan for only $3990.06 for 18 months at zero (0%) percent. What we actually ended up with was a B of A credit card with a $16, 000 bill. And 2.9% was only for a short period of time and not 2.9% which we were led to believe. The interest rate will increase to 18.99%. You can imagine how shocked I was to receive a statement from B of A for $16, 000. We were also told that they would handle all rentals that we wanted to do at the Reno/Tahoe vacation spots.

This company did not follow the unfair trade practices act.

This ownership is NOT a valuable asset as described. My sales rep called me family, then decided to NOT RETURN MY CALLS. Mj Delacruz. What a scam artist. She knew she lied which why she can not face me.

Some change needs to occur in this industry. How can long contracts still be legal in this industry when so many people are scammed. If they made these contracts short. Like 2-3 years, then companies would be honest and cater to their owners and not to lying salesmen which creates victims and every payment re-victimizes the owners as they are not getting the package they were explained and instead of hiding behind confusing documents.