DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - O anyone got any info ON BANK FORECLOSURES HERE IN DR ?

**Ygd2qr8k** · 07-31-2012, 03:47 PM

We went through these foreclosures many years ago with the failures of the Yunen bank (Caribe something or other), Almonte's bank, major shakeups. Then came BanInter where the magician Ramon Baez made 77 billion disappear....Others like Banco Mercantil, Banco Credito and a couple of others also folded.

Right now we have Popular, Scotia, Leon, Progreso and a couple of others.

FYI: Mortgages have been around for over 40 years...I wonder where the above poster got his information...I bought two houses with mortgages!! Geez!

HB

HB - mortgages have probably been around for a while in the DR, but are a new thing to expat investors in the North Coast. Scotia Bank in Sosua for example released their first mortgage last year. Expats aren't willing to dish out high interests rates like Dominicans do and the banks make it very difficult for expats to qualify, which is why mos buy with cash.

07-31-2012, 03:47 PM	#5
Ygd2qr8k Join Date Oct 2005 Posts 427 Senior Member	We went through these foreclosures many years ago with the failures of the Yunen bank (Caribe something or other), Almonte's bank, major shakeups. Then came BanInter where the magician Ramon Baez made 77 billion disappear....Others like Banco Mercantil, Banco Credito and a couple of others also folded. Right now we have Popular, Scotia, Leon, Progreso and a couple of others. FYI: Mortgages have been around for over 40 years...I wonder where the above poster got his information...I bought two houses with mortgages!! Geez! HB HB - mortgages have probably been around for a while in the DR, but are a new thing to expat investors in the North Coast. Scotia Bank in Sosua for example released their first mortgage last year. Expats aren't willing to dish out high interests rates like Dominicans do and the banks make it very difficult for expats to qualify, which is why mos buy with cash.
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