That's not really how it works though, or at least how it should work. Take insurance giant AIG for example. In a misguided effort to make lots and lots of easy money, they literally invented an investment instrument that was essentially a bet that certain other investments would fail. Then, in order to make sure they were covered, they set up offshore banking entities that bet the other way, just in case. The subject of the bets of course was the outrageous mortgages granted to people who had no business getting them in the first place. Well, interest rates climbed, the misguided borrowers defaulted - en masse - and all of the bets came due. So AIG turned around and got bailed out-by us, of course.
Well, to say the least, unbelievable blueprint people may visit has immense potential. If you're one of those who change job or the city quite frequently, then this perhaps fits your bill the best. You can keep your bank constant even if you're on the move. Wherever you go, you will always have an access to your money and your bank account through offshore banking. If you use any specific bank in one country, you may find it difficult to access your money abroad or may have to unwillingly pay charges on every transaction. You may also not be able to reach your account in some countries. offshore banking takes care of all these and ensures your money anytime anywhere.
Besides Switzerland, Singapore, the Cayman Islands, Luxembourg, Monaco, Liechtenstein, Gibraltar, and Dubai have the world's major collection of offshore banks located in them.
Finally we decided to sell the house and start over. That's when the real panic started. Our real estate agent said many people in the neighborhood had either sold their homes or had already defaulted on their loans. The value of our home had fallen about 20%. We owed more than the home was worth. The only way to sell it was to pay off the difference of $40,000. We didn't have that much money in our offshore bank account. The only option was to let the home go to foreclosure and ruin our credit for 10 years.
At any rate, I'll keep investigating. Meanwhile, beware of any mortgage elimination program. If you want a safe way to eliminate your mortgage more quickly, please refer to the wealth-building program, Winning the Mortgage Game.
How To Open Offshore Bank Account Online