The Mudcat Café TM
Thread #102499   Message #2446299
Posted By: GUEST,dianavan
21-Sep-08 - 01:17 AM
Thread Name: BS: Crash of U.S. Economy
Subject: RE: BS: Crash of U.S. Economy
Anyone can google my link and read the quotes in context.

Pdq and rig have a sleazy way of twisting the facts.

"Because the Mexican Constitution Prohibits foreigners from purchasing or owning real estate within 60 miles of an international border or within 30 miles of the Mexican Coast, a new, safe method of holding title was created. This new instrument, modeled after the one in Monaco, allows ownership through a Mexican Property Trust, called a "Fideicomiso". This is a trust agreement, much like an estate trust, giving you all the rights of ownership."

The bank holds the trust to which you are the beneficiary.

The laws have changed since the days of Jack London.

Rig, you say, "the lender has some recourse against the buyer." Like what? Foreclosing on the house? I can't see what difference it would make if you were in the country legally or not. Besides that, the number of 'illegals' buying property is probably pretty small since they are working below minimum wage and sending most of it home. If you think immigrants are such a big problem, back it up with some figures.

Wake up! This is white collar criminals being bailed out with your tax dollars.