The Sun Village Juan Dolio Fractions

A sample how Elliotts made business:

You purchased a Passport Superior Condo Fraction in Phase 2 for $42,188.

You financed 50% ($21,094) and paid the other 50% (21,094) down.

For the financed portion you signed a promissory note to pay $21,094 in 60 installments. You are told that payments are due at hotel opening. But you just signed that you will start making payments within the next few months. The future due date at the promissory note is the suggested Grand Opening Date, which made sense.

Now in September 2008 the Elliotts adjusted the value of your fraction. Instead of $42,188 they say your fraction is only worth $15,939. But they did not reduce your purchase price from $42,188. And you still need to pay the financing of $21,094.

Clients who refused to pay are being sued for not fulfilling their obligations to Elliott.