Fractionals: A Warm Spot in a Cooling Market

An article published on April 13 in the New York Times' Real Estate section talks about fractional ownerships.

"John Melicharek, head of the tourism industry practice at the law firm of Baker Hostetler in Orlando, Fla. says 'It’s become a convenient way to own a second home without all of the problems.' "

"Banks have also started offering specialized loans for fractionals in the last year, so buyers do not have to rely on home-equity loans, sell stocks or bonds, or cash in their bank accounts. Such loans can be more difficult to get than ones for primary residences, however. First Fractional Funding of Greenwood Village, Colo., for example, requires a minimum credit score of 700, said Scott Christian, its president."

You'll find a link to the full article in the golfhomesTODAY.com Buying Guide Library.