I've never considered time shares to be real estate, because essentially you are the owner of time and aren't on the title of the dwelling. If you are on title of the home, then I think you'd have a leg to stand on. On the loan application we aren't required to put in the schedule of real estate a time share property, nor are lates on a timeshare looked at as mortgage lates when it comes to credit qualifying.
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states