Vacation Finance to Lend in Mexico

New mortgage loan product for US buyer's of Mexican real estate.

Birmingham, MI (PRWeb) March 2, 2007 -- Nearly 11 Million US Baby Boomers will turn 51 years old in 2007. Around the age of 50 people begin to seek second homes or would-be future retirement nests in the greatest percentages. Is it any wonder that the sale of second homes in the US and Mexico are hitting record rates? For many, ocean front vacation property in the US is simply priced out-of-reach. Thousands of US buyers are seeking homes and condos on Mexico's pristine shores.

Vacation Finance understands the vacation home market better than any U.S. home loan lender and will begin lending in Mexico to qualified American buyers on March 16, 2007. Our new loan program offers 70% financing with terms similar to US standard mortgages, in US Dollar donimated loans.

"Mexico is booming, one impediment to growth in this market is a lack of financing. Vacation Finance's new loan program will allow Mexican property values in key resort markets to increase even faster" said Steve Roszell owner of CondoHotels.com a US based real estate firm. "We see great opportunity in the key Mexican resort markets, and have had strong demand from developers as well as consumers for financing in Mexico" said Roger Dibble, VP of Western Operations for Vacation Finance, an innovative US lender to the second home market in the US that pioneered unique condo hotel, fractional and cottage loan products.

Vacation Finance has also enhanced its portfolio loan purchase program to include the purchase of timeshare loan portfolios in Mexico, and is an active buyer of loan portfolios of between $500,000 and $6mm. "Our Timeshare receivable program is more aggressive than ever, we have the ability to be very nimble in this market" said Bob Waun, CEO of Vacation Finance.

###