What is a time share?
The Bankrate.com financial term of the day is: "Time Share"
So you can't afford a vacation home. A time share holds out the promise that you can at least buy a piece of one and can use the place at a certain time each year. The idea is that you can take comfort in knowing you'll always have a place to stay in a resort area and enjoy better accommodations than a hotel and at a lower price. But time shares come with annual maintenance fees that can eat into any savings.
A time share is partial ownership in a vacation property that you can make your regular home away from home. But be careful of the fees!
To shop for the perfect home loan, visit the Mortgages section at Bankrate.com.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
A drag racing champ offers advice if you need to get behind the wheel during blustery winter weather.
... Read more