Wednesday, July 28, 2010

Canadian Buyers Bank of America Drama, Snags, Contract Problems

Canadian buyers of real estate and homes in the United States have recently discovered just how corrupt business can be south of the border.

Since my wife is Canadian I pay close attention to these scams and methods by which banks, mortgage brokers and real estate developers prey on the unsuspecting sincere foreign buyers coming from afar to "live the American dream" and escape the cold Canadian winters.

Sadly what is far more cold than the Canadian winters is the way some in the United States do business and deceive good hearted people with pure intentions.

Ready, willing and able Canadian buyers desirous of taking banks' toxic loans off the books, are being told sometimes they cannot use their Royal Bank funds and must use domestic banks to finances their home purchases.

Why would anyone want to finance with someone like Bank of America which is said to be 130% over its head in debt? Let's not forget folks Canada has the best banking system in the world. Why then are banks trying to force them to buy a home with their funds rather than allowing them to access their own? It's all about greed and making a bit more money for desperate U.S. banks sinking, but it seems like a contradiction to complicate a purchase of a home which the original borrower defaulted on.

God knows we complicate things way too much here in the States - the most litigious and arguably bureacratic nation on earth.

If Canadians cannot use their Royal Bank monies, they most likely need a social security number to make purchases otherwise through U.S. banks ...further slowing down the purchase.

These bureaucratic hoops for Canadians must be eliminated, lest they up and leave and take their money elsewhere in the world to buy property (I can help my Canadian friends with these other options across the globe and in the States if they have a bit of patience and staying power).

No buyer should be made to stick around for a year while a bank figures out how to fix its bad books, dump defaulted loans and sell abandoned homes.

I welcome my Canadian friends to contact me to help and advocate your cause to every level and layer of government here in the United States. Please tell me your stories and bad experiences so I can be a voice of reason to government and publicize this further on the Internet and seel legislative reform to make your purchases smoother in the future.

If you are ever in Florida, I would be happy to meet and hear your story personally.

Below is a foreign currency exchange company for safe, reliable and professional international foreign currency exchange to serve your global transactions, holidays and purchases

I look forward to hearing from you!

Paul F Davis - Global Property Specialist serving buyers and sellers worldwide - worlwide motivational speaker and life-changing author of 18 books who has touched 60 countries and lived in several continents empowering people to transcend their limitations and live their dreams!

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