In the US and other countries banks require title insurance as a requirement to obtain a mortgage loan. Here for commercial or private loans, banks require a person to obtain fire and life insurance policies as a guarantee that if the person passes away the insurance company will reimburse the bank for the unpaid portion of the loan. The property you are buying is not sufficient collateral for banks in Panama. You have the option of buying these insurance policies from the bank or getting them from a broker. THE LAW Article 36 of the Law 59 of 29 of July of 1996. Clients of... 

Mortgage from a US Bank A prestigious international bank based of Florida has just approved mortgages for US citizens purchasing property in Panama. This is the first of several banks who are in the process of establishing international mortgages in Panama. FIRE AND TITLE INSURANCE will be required to obtain a mortgage from this bank. To get more information how to obtain a Mortgage from a US Bank or to get a quote, contact our customer service department at forlacol@gmail.com or by phone (507) 6676 5151.  Read More →

Home Owner’s Multi Risk or Fire Insurance Fire Insurance covers the structure of a property - roof, walls, and ceiling. Rates depend on the material used for construction (cement, mixture of cement/wood, or wood) and the location of the property (urban or rural areas). Fire protection covers you for catastrophic damage - earthquake, hurricane/windstorm, lightning, explosion, falling objects/vehicle impact, smoke damage, and debris removal. Flood and landfall can be included in this policy. Your maintenance fee does not include fire damage. Fire insurance is required by...