Fannie Mae – Time Share Obligations: If a client has a paid-off timeshare, do I need to count the dues and fees associated with the timeshare as a debt?
Answer: Fannie Mae does not specifically address this in their selling guide. They are more general in their guidance by using a ‘catch-all’ statement like what I highlighted below in yellow. So, I can only offer my opinion. I have spent 30+ years in the business and have never seen a lender/underwriter use dues or [...]