NewsWhore
10-19-2007, 03:20 PM
Hoy is reporting that for the first time a foreign bank will provide a US$500 million fund for people to buy homes at Cap Cana, on the east coast of the Dominican Republic. Vice president of Commercial and Institutional Relations at Cap Cana, Elis Perez, says that it is the only case he is aware of where a large international bank is providing such a fund for potential homeowners. The agreement between Deutsche Bank and Cap Cana was signed months ago in New York, but because of housing woes experienced in the US market the Bank didn't feel it was the right time to reveal details. The funds will be open to Americans, Europeans and Canadians and mortgages will be for a 30-year period at a rate negotiated by the bank and the client.
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More... (http://www.dr1.com/index.html#6)