Despite the meltdown in the sub-prime mortgage sector, lenders continue to devise new and unusual ways -- or dust off little-known products -- to finance borrowers who fit into numerous market niches. Due to the fact that the Del Mar Real Estate market is strong, this turn of events could prove to be beneficial for many International executives who are in the market for Del Mar homes and Real Estate. The large number of International Del Mar Real Estate buyers is an intriguing target for lenders.According to the National Assn. of Realtors, one-third of its members had at least one international client between April 2006 and April 2007. Of those, more than half sold their clients stateside houses. This is great news for International buyers who desire a stateside residence in the Del Mar area.

The LA Times recently stated, "All real estate is local, but all buyers are not," says Lawrence Yun, chief economist for the Realtors' group. "We live and do business in a global economy. And with the weak U.S. dollar, compared to the Euro, U.S. real estate is now selling at a 30% to 40% discount compared to five years ago." Foreign nationals often pay cash for their second-home vacation properties. But if they want a mortgage, there are plenty of lenders from which to choose, especially in the hotbed markets of California where the international set likes to hang out. Of course, documenting foreign borrowers is a tad more difficult than underwriting a loan for U.S. citizens. For example, they must provide valid identification in the form of a visa, entry permit or a citizen's ID. Most lenders require International customers to have the equivalent of 12 months of principal and interest payments safely deposited away in an American bank account.

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