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A listing of commonly-used terms relevant to the timeshare industry.

An annual meeting of owners at a resort deals with matters such as the resort’s operational budget, the adoption of accounts, the appointment of officers, and any other related business. Detailed provisions relating to the calling of such meetings can usually be found in the club’s constitution.

APR

The Annual Percentage Rate (APR) is a measurement of the total cost of borrowing money (also known as "total charge for credit"). It makes it easier for customers to compare between different credit products on offer.

The method of calculating the APR is set out by the Financial Services Authority and in the Consumer Credit Act and all lenders have to use the same method. The APR is usually a little higher than the annual rate of interest because the APR takes into account other contractual charges, e.g. any fees payable to Lender.

There are certain assumptions made when calculating the APR; for example, interest rates will not change in the future, all monthly repayments will be made on the due date and the loan will not be repaid early.

Banking

Through the exchange companies, you can deposit or ‘bank’ your timeshare for something similar at another location anywhere in the world. See also Exchange System.

Contract

When you buy timeshare, you have the right to a contract and other important information in your own language. Your contract will include basic information such as the purchase price, charges relating to the use of common facilities, a description of the property and the names and addresses of the parties to the contract.

Mortgage Loan Tips

2.   As you shop,  Compare interest rates  (fixed rate or variable),  fees , and find out if they charge prepayment penalties (most do not).  The market rate for borrowers with good credit varies from time to time.  If you think that rates will increase, you may want to consider "locking in" an interest rate.  If you do, we suggest you obtain written confirmation of that lock and pay attention to when the lock expires.  Origination fees seem to be about 1% of the loan amount.  Some unsuspecting and uninformed consumers have paid as high as 17% for origination/broker fees.  For a $100,000 loan, that means paying $17,000 when $1,000 to another company would have provided a loan with terms at least as favorable.  If you have poor credit, you will likely have to pay higher rates and fees, but by shopping around you may still be able to find a loan with reasonable fees and rates. 3.   Avoid companies which  encourage you to commit fraud  by claiming a business purpose for a loan which is actually for personal, family or household uses.  This seems to be done by some companies to avoid a rescission period (a 3-day "cooling off" period in which a borrower may cancel a loan secured by his/her primary residence) and/or to circumvent the requirement to provide important disclosures.  If you have a financial emergency (such as imminent foreclosure), you may waive your right of rescission to speed up the process without any need for deceit. 4.   Beware of statements such as  "No cost to you" .  Some mortgage companies use that expression to mean no out of pocket costs at closing -- that is, they will add closing costs to your loan balance rather than require you to provide cash at closing.

Period, a girl's guide to menstration with a parent's guide

On, Off

The cooling

Period

Personal identity