Thread: Bought Property in Panama Hope Its not a SCAMMMMM Read and See If You Could Help US

We live in Los-Angeles, California and bought property in Panama projects name is RIVAGE here is their website RIVAGE PANAMA. We put down a total of 30% at that time the seller said that the bank will be needing 30% to finance the full amount. Now the terms have changed and supposedly the bank needs 50% to finance. I made no contract with any bank and this property set to be finished January 2012. Are there any banks in Panama that finance more than 50%. As far as a mortgage loan what is the process and what do we need to qualify for a loan in Panama This any body know anything about backing out from this purchase. Any ways to get our 30% back and forget the whole thing? Please let us know if you know anything every little thing helps.

Scotia Bank has been very helpful to me in the financing department. they will do the 30% financing.

Have you read your contract? Can you paste it here?

Originally Posted by jwr2001

Scotia Bank has been very helpful to me in the financing department. they will do the 30% financing.

thanks, is it actually working now with those terms