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atl
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mos,
I am certainly no expert being out of that biz since '04 but I would doubt it....back then they wouldnt really take into consideration income from outside los...thus the valid work permit requirement.
I could be wrong but would venture to guess if they require 40-60% liquid down..they pretty much feel you can afford the mortgage...if not they forclose, resale and make their money back plus a a nice margin...assuming the market didnt take a 40-60% dump..which even in los is highly unlikely...
if you find out something factual please post...as I would be interested to know...
Thanks,
atl
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Thai Girls : Meet Sexy Thai Girls
Posted on: 9:26 am on Dec. 28, 2007
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jack attack
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Mos,
the question is about Thai banks- they can't take the collateral if the payments aren't made. I don't think they accept it even from Thais.
You may be able to arrange something like that with HSBC or Citibank tho.
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Bangkok Women : Meet Sensual Bangkok Women
Posted on: 4:02 am on Jan. 7, 2008
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China Sailor
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Mos,
Given the current attitudes toward the US housing market I really doubt that any foreign bank would mortgage a US home except at a large discount.
Another issue is that the bank would have a difficulty collecting in case of default without a American presence. The US laws on home repossession are rather complex especially if a Chapter 13 is involved.
Finally I wonder if a foreign bank is allowed to hold US property as collateral without being licensed to do so in the state in question. I know that US banks and credit unions are limited where they can hold collateral unless they are registered to conduct business in state in which the collateral is located. This is because limitations in each state regarding interest rates, homestead rights, and eviction/repossession procedures. If they are not registered they must act through a proxy/agent that is registered in that state. In either event the interest rated charged would reflect that of the current US market.
Of course being that I am not the Duck or the Doc I know I am fallible so I may be wrong here  ...
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Thai Girls : Meet Sexy Thai Girls
Posted on: 5:50 am on Jan. 7, 2008
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wittleus
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Quote: from mosquito2002 on 8:45 pm on Dec. 15, 2007
Why wouldn't you just take a 2nd mortgage out on the house in USA and buy the house in Thailand for cash. You could certainly strike a better deal with cash in Thailand. Interest rates in USA are low and probably going lower, you've got great collateral in the paid up house, and at least you know the laws, loan requirments, foreclosure issue, etc. in the US, vs. a big unknown in Thai law & business practices. And, here, there is the mindset that the farang is wrong in most legal issues.
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Bangkok Girls : Meet Sexy Bangkok Girls
Posted on: 1:35 pm on Jan. 15, 2008
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jack attack
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wittleus,
good idea but
a) who is going to be the "owner" of the house here- can't be falang and really tough right now for nominee company
b) when you are ready to sell how will you take the cash back out of Thailand? Supposedly the former PM had a seperate plane loaded with dough when he left. Might be a bit expensive for normal slugs.
c) international banks such as Citi and HSBC have mortgage facilities for expats. Give em a call to see what's the deal.
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Thai Women : Meet Matured Thai Women
Posted on: 2:43 am on Jan. 17, 2008
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