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02-16-2006, 02:20 PM
| | Junior Member | | Join Date: Feb 2006
Posts: 2
| |  Out of country mortgage loan?
What is the name of your state? Illinois
I recently found a mortgage company with great rates for purchasing a condo I am interested in. Can I use a mortgage company outside the United States? I'm really hoping so. |
02-16-2006, 05:12 PM
| | Senior Member | | Join Date: Aug 2005
Posts: 1,964
| | | Are they licensed to do business in Illinois? |
02-16-2006, 05:14 PM
| | Junior Member | | Join Date: Feb 2006
Posts: 2
| | I don't think so.  Is there any legal way to get around that? |
02-17-2006, 12:45 PM
| | Junior Member | | Join Date: Feb 2006
Posts: 8
| | Quote: |
Originally Posted by Melissam I don't think so. Is there any legal way to get around that? | They can get a license to do business in Illinois! |
02-17-2006, 02:40 PM
| | Member | | Join Date: Dec 2005
Posts: 79
| | | RE: Licensing
Not only does the company have to be licensed, but the loan officer as well. |
02-17-2006, 02:52 PM
| | Member | | Join Date: Feb 2002
Posts: 435
| | | Why even go there? I know of someone who sent a $500 check as a mortgage application fee to a company in Canada and never heard from them again after the check was cashed. There are so many good lenders in the US. Why look elsewhere? PS If it sounds too good to be true, it probably is. |
02-17-2006, 03:50 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 71,212
| | | I agree.... |
02-17-2006, 05:34 PM
| | Senior Member | | Join Date: Aug 2005
Posts: 1,964
| | Quote: |
Originally Posted by HUD-1 Why look elsewhere? | I wish the OP would answer this and tell us what was offered that seems so much better than homeland lenders offer. |
02-17-2006, 05:36 PM
| | Senior Member | | Join Date: Aug 2005 Location: St. Odo of Cluny Parish
Posts: 27,470
| | | Q: I wish the OP would answer this and tell us what was offered that seems so much better than homeland lenders offer.
A: She realizes she has been scammed and is too embarassed to admit it.
__________________
My signature is not working.  |
03-09-2006, 02:09 PM
| | Junior Member | | Join Date: Mar 2006 Location: new england
Posts: 18
| | | Why would anyone think of doing something as stupid as this is beyond me, I can see the next post 3 months from now. "LOST MY DEPOSIT TO MORTGAGE COMPANY IN KENYA HELP ME QUICK"!!!
Interest rates in the US are at all time low and backed by US laws backed by the US dollar which is back by the full faith of the federal reserve, bottom line there is no better way or safer way to finance a home than by a US licensed bank in the US. If you are basing your decision to buy/refinance a home solely by rate than you are making a huge mistake, let me guess you also don't want to pay any closing costs too right? Check your credit pay-off your bills on time, get out of debt, get a good job and save some money and then ask for a good rate, easy right? stick to the fundamentals if it sounds to good to be true...
Good luck, be careful and educate yourself. Interest rates have a direct coralletion to the risk that a borrower poses to the lender. | |
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