Posts by Amy Myers65

Response from Bank of America:
Dear Mr. David,
thanks for reaching out.

Just so you know, non-residents usually can't get a mortgage through our bank. We might make an exception if a client has an account with Bank of America and has been receiving regular deposits there for at least the last six months. In those cases, the credit committee reviews the application separately. Basically, you have to have an account with us first.

For mortgage loans, the property being used as collateral has to be located right here in the States, just like the home you're buying.

A non-resident can open a personal account at any of our branches by showing a valid ID—like a driver's license or passport—and a tax ID. Account holders can also authorize one or more adults to manage the account. If you decide to set up authorized users for your funds, you'll just need to provide photocopies of their IDs to the bank.

You can find all the details about non-resident accounts on our website, including all the paperwork you'll need: .

Hope this helps. Best regards,
Nadja

Thanks Joe,
I grabbed that translation from some online tools, but honestly, who knows if it's even right...

Don't be lazy,
I shot an inquiry over to John at JPMorgan Chase last night and they got back to me pretty fast:

-----Original Message-----
Sent: Thursday, January 06, 2011 12:21 AM
name: David
subject: Mortgage loan
message:
To whom it may concern,
I'm guessing you guys are getting flooded with messages from all over the US :-)
Can you send over some info regarding terms and rates for mortgage loans for young people here in America?
Thanks

-----Original Message-----
From: Services [mailto:Services@jpmchase.com]
Sent: Thursday, January 06, 2011 7:55 AM
Subject: RE: Mortgage loan

Dear David,
Thank you for your inquiry regarding our lending options. We wanted to inform you that, based on current Bank of America policy, we are currently only approving bridge loans (unsecured loans) for non-residents.

Should we begin approving mortgage loans for non-residents in the future, we will be happy to notify you via a brief message.
Best regards
RK

Look,
if you browse any finance forum, you'll find endless horror stories from people who tried going through shady middlemen or even lawyers (check out sites like Nolo). It’s just a bunch of sad tales about folks who were way too optimistic and naive..

Sasha, you aren't making any sense and I have zero interest in asking you anything, and I hope nobody else desperate falls for this either...
Just walk straight into a bank. If they turn you down, trust me, there's a damn good reason for it...
Obviously, banks exist to lend money because they still make a killing off interest—basically sucking the life out of regular people. Any other setup is only worth it if you have heavy-hitting lawyers in your corner—which you'll definitely need once it becomes clear someone is playing you for a fool. Otherwise, I wouldn't want to be in your shoes. (Sorry for repeating stuff from older threads...)

Better to rent than to be a slave!