I purchased 3 apartments in the dominican republic as an investment. I was hoping to purchase and sell them to a particular perspective buyer. The buyer backed out and now the bank will be forclosing on the properties. Can the bank come after me in the US or can the foreclosure appear on my credit report here in the US? Basically, how will this affect me here in the US?

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Originally Posted by killbill

I purchased 3 apartments in the dominican republic as an investment. I was hoping to purchase and sell them to a particular perspective buyer. The buyer backed out and now the bank will be forclosing on the properties. Can the bank come after me in the US or can the foreclosure appear on my credit report here in the US? Basically, how will this affect me here in the US?

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The various sites appear to be saying yes, the debt can be collected in the US - there are collection agencies which are advertising collecting foreign debts in the US and the Domican Republic is one of the countries mentioned.

I believe it CAN appear on your credit report. I know debts incurred in Mexico can.

Why don't you do the honorable thing and market them to other prospective buyers? Did you just want to "make a fast buck" as an intemediary?