Comments on: Is a foreign currency mortgage a possibility for my future home? http://www.reddeerrealestatelink.com/is-a-foreign-currency-mortgage-a-possibility-for-my-future-home/ Tue, 05 Apr 2011 20:33:22 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ed Atun http://www.reddeerrealestatelink.com/is-a-foreign-currency-mortgage-a-possibility-for-my-future-home/comment-page-1/#comment-2918 Ed Atun Thu, 29 Apr 2010 02:16:14 +0000 http://www.reddeerrealestatelink.com/is-a-foreign-currency-mortgage-a-possibility-for-my-future-home/#comment-2918 It is possible. The funding money will be wired into the escrow company in order to complete the sale. That will be a local escrow company in your town. If you get their approval to accept foreign currency, you can do it. If you did not use an escrow company and paid the seller directly, you would only need the seller's approval. He would be paid in foreign currency. Perhaps he is traveling to that country and can use the money. Or he is willing to do the exchange himself into USD. There is no automatic savings by financing that way. It is possible. The funding money will be wired into the escrow company in order to complete the sale. That will be a local escrow company in your town. If you get their approval to accept foreign currency, you can do it.

If you did not use an escrow company and paid the seller directly, you would only need the seller’s approval. He would be paid in foreign currency. Perhaps he is traveling to that country and can use the money. Or he is willing to do the exchange himself into USD.

There is no automatic savings by financing that way.

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