In Panama, one of the most retiree-friendly nations on the planet, it nearly defies logic that banks will only loan you money until your 75th birthday. And for every dollar you borrow, you must carry life insurance, PAYABLE TO THE BANK! You may be surprised to learn that Panamanian banks don’t offer fixed rates over one year, or that there are no caps in place to guarantee that after that one year, your rate does not skyrocket. Or that this subsequent rate is not even tied to a World Index! You now have an option. Your mortgage loan will be through an FDIC-insured lender with documentation requirements and procedures exactly like you would expect from any loan you may have had prior to this one in the United States. This means you are no longer limited to the traditional getaway markets when thinking about
that second home or investment property... [ continue ]