Let's consider the simplest example of a black hole, the Schwarzschild black hole, given by the metric:
$$ds^2 = -\left(1-\frac{r_s}{r} \right)dt^2+\left(1-\frac{r_s}{r} \right)^{-1}dr^2 + r^2 d\Omega ^2 $$
where $r_s = 2GM$ is the Schwarzschild radius. We're using units with $c=1$.
The metric signature is $(-,+,+,+)$ (some authors use $(+,-,-,-)$ but it is not relevant for the present discussion). In this sense the first coordinate, $t$, is associated with a negative component of the metric. Notice however that this is valid only for $r>r_s$. If $r<r_s$,that is, inside the event horizon, the component of the metric associated with $t$ becomes positive, while the component associated with $r$ becomes negative. In this sense the $r$ coordinate becomes "time", while the $t$ coordinate becomes part of "space".
However given the metric above becomes singular at $r=r_s$. This is a problem with this coordinate system. We can make a coordinate transformation (for details see these notes, page 182 onward) to bring the metric to the following form (the so called Kruskal coordinates):
$$ds^2 = \frac{4r_s^3}{r} e^{-r/r_s} (-dv^2 + du^2) + r^2 d\Omega^2$$
where $r=r(u,v)$ is the usual $r$, but should be understood in this case as a function of $u$ and $v$.
In this case the role of time (negative component of the metric) is played by $v$, and this is valid for both $r>r_s$ and $r<r_s$. In this sense, in Kruskal coordinates, inside a black hole time remains time and space remains space.
What does this tell us? Essentially that we should be careful in interpreting what the coordinates mean. For example, the time $t$ in the original Schwarzschild coordinates should be understood as the time experienced by an observer infinitely far away from the black hole. However, it is not the time experienced by an observer falling into the black hole: that would be the so-called proper time $\tau$, defined by $dt^2 = -ds^2$. It is known that it will take infinite $t$ for an observer radially falling into the black hole to actually fall, however only finite $\tau$. That is: if you fall into a black hole, you will actually cross an event horizon (finite $\tau$) but your friend far away will never see you cross.
The takeaway is that "timelike" coordinates are not necessarily the time experienced by an observer, they are just a way of describing a spacetime. In fact, $u$ and $v$ above do not have a simple interpretation in terms of time experienced by someone.