- Thread starter lrh2100
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real estate and banks outside DR
realestate and banks outside DR
hi escott, do you mean that you know other who had tried to get loans outside dr, if so, who?.....thank
hi escott, do you mean that you know other who had tried to get loans outside dr, if so, who?.....thank
Escott said:Not from everything I have read here. I have not tried but know many who have.
lrh2100 said:my question is: does any bank or lending institution outside dr lend money to purchase real estate in dom. rep. thanks
As long as the property is not used to service the loan or as collateral for it, why not?
I think it depends on your financial situation. My bank had no problem lending me the money knowing full well what I was doing with it. We did it up as an unsecured line of credit. It can be done...get in tight with your banker first...tom
lrh2100 said:my question is: does any bank or lending institution outside dr lend money to purchase real estate in dom. rep. thanks
If you are American, please send me an e-mail or PM me.
Thanks
He isn't talking about an unsecured line of credit which you can use for anything you want. He is talking about a mortgage loan on a piece of real estate in the DR.twhitehead said:I think it depends on your financial situation. My bank had no problem lending me the money knowing full well what I was doing with it. We did it up as an unsecured line of credit. It can be done...get in tight with your banker first...tom
If he had the wherewithall to begin with he probably wouldnt be asking the question.
I have several lines of credit in the states with a few different banks and seriously thought about using that and investing in the DR. That felt too close to buying stocks on margin so I didn't.
Escott