Dan Brown Among Buyers Left Stranded as Luxury Anguilla Resort Flounders
Before the recession, times were good for developers and real estate salesmen on the island of Anguilla in the British West Indies. The Temenos Residence Resort charged clients such as bestselling author Dan Brown seven-figures for beautiful properties on the beach. But now that the crash has hit, construction has come to a screeching halt and buyers may be facing big losses. The resort has defaulted on its $180 million mortgage and can't find the $125 million in financing to finish the project. The owners will most likely have to sue to get their deposits back, but there is no guarantee that the company still has the money. The WSJ's Kris Hudson reports:
