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Old 08-01-2007, 01:52 AM
master01
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Join Date: Aug 2007
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The United States mortgage lending institutions will not loan money to individuals for the purposes of buying a home on foreign soil. Individuals must obtain a loan through a mortgage lending institution in the country they wish to buy in.
American home owners have the advantage of the U.S. tax write off. This is when the Internal Revenue Service will make deductions on the mortgage interest of the primary home and the second home for up to one million dollars, no matter where in the world the second home is located. As long as all requirements are met for the primary and second residences, this is true.
source:http://www.insiderealestateinfo.com

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