NUMBER ONE Success System

[Tommy Lee]

http://www.noss123.com/

Prices are often much cheaper than most areas of the U.S., but in many
locations prices of houses and lots are as expensive as the US, one example
being Mexico City. U.S. banks have begun to give home loans for properties
in Mexico, but, so far, not for other Central American countries.

One important difference from the United States is that each country has
rules regarding where foreigners can buy. For example, in Mexico, they
cannot buy land or homes within 50km of the coast or 100km from a border,
while, in Honduras, they may buy beach front property. There are also
different special rules regarding certain types of property: *ejidos* -
communally held farm property - cannot be sold to anyone, but that does not
prevent them from being offered for sale.

Many websites advertising and selling Mexican and Central American real
estate exist, but they may need to be researched.

The debtor is the person or entity who owes the obligation secured by the
mortgage, and may be multiple parties. Generally, the debtor must meet the
conditions of the underlying loan or other obligation and the conditions of
the mortgage. Otherwise, the debtor usually runs the risk of foreclosure of
the mortgage by the creditor to recover the debt. Typically the debtors will
be the individual home-owners, landlords or businesses who are purchasing
their property by way of a loan.

A debtor is sometimes referred to as the *mortgagor*, *borrower*, or *
obligor*.
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