Lizzers - 8-27-2007 at 03:09 PM
Hey all,
I have a new website that I wanted to share. It's purpose is to inform people about financing that is available in Mexico for U.S. and Canadian
citizens, but I also plan to include travel info, info on Mexican culture, and other random postings.
http://mexicoloans.blogspot.com/
Thanks!
docsmom - 9-12-2007 at 01:36 PM
Hey Lizzers,
With the tightening of lending requirements in the US, particularly in respect to investors, what's happening with lending in MX? Who's buying the
loans today and what are the requirements? Is this still a viable market or has it/will it go away soon?
Hook - 9-12-2007 at 01:50 PM
What happens to a loan on property that becomes legally re-possessed by a previous owner, say, a court ruling gives title to someone else like an
ejido?
What happens to a loan where the developer of a property fails to complete the property after you have paid for the property in advance?
docsmom - 9-14-2007 at 08:54 PM
Lizzers?
No response? It was a real question......
capt. mike - 9-15-2007 at 07:59 AM
our loans require title insurance be purchased by the borrower that protect the trustee and the beneficiary.
bottom line - don't get involved with any thing relating to real property with out a policy. And any reputable lender will not hang himself out with
out a clear path to title.
JZ - 9-15-2007 at 11:34 AM
What actually happens when the bank loans you money on Mexican property is the lender establishes a trust on the property in their benefit.
This step makes these loans costly, due to the costs associated with establishing the trust.
I've heard one number thrown out there. You have to pay ~9% of the loan value to originate it. A good chunck of that goes to the Mexican gov't.