Bank Loans

[mis2810]

Are there any banks in Mexico that loan money using property/land as collateral?

 

[lagrimas85]

Are there any banks in Mexico that loan money using property/land as collateral?

Probably, but you wont like they're intrest rate..also talk to Roberto about his renter's story and the bank, before you borrow.

 

[Roberto]

Guy borrows a couple of grand from local bank branch when in need. He moves to Nicaragua and times get better and he contacts the bank and me to arrange to get me the dough and have me pay the bank. Bank says nope you gotta do it yourself, personally so he comes up from Nicaragua and goes to bank to pay off the note. He is then told he cannot pay it off, has to make all the payments and interest as originally scheduled. This is banking in the dark ages. One of the biggest problems holding back growth in Mexico. Just imagine how many people in the US would not have a vehicle if they could not finance it and all the jobs lost as a result.

 

[mis2810]

Doesn't sound appealing. I was just hoping to get a loan to get the cash out of our property quickly using the title as collateral. I don't even know what I'm talking about anymore. My head is spinning.