Small lenders fill niche for Mexican mortgages

Programs requiring 20-30% down lure investors, retirees

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The residential mortgage meltdown in the United States not only has devalued investors’ significant assets but it has stymied their ability to create and explore potential future business.

New York-based Lehman Brothers Resort Home Lending abruptly ended its four-month entry into the Mexican and Costa Rican mortgage markets even as many destinations in those two countries continue to appreciate and draw second-home, retirement and investment buyers.