I think you guys are way too quick to squash this idea.

Hi thereI'm a South African currently living in the Cayman Islands looking to get into the US market.As a non citizen / non resident I am struggling to obtain 30 year finance at decent rates in the US.I am investigating the possibility of using finance from back home to cover the cost of a unit, then refinancing in the US to squash the mortgage back home and effectively backdoor finance in the US.Does anyone have any experience with this, and have any comments in whether US banks may be more willing to provide refinancing to an already purchased asset held by a foreigner?

Let's squash that rationalization...it's made up.The current Act restricts the freedom of the capital raiser...not the freedom of the investor. 

But even seemingly good deals get squashed and it appears to be because of taxes.

Squash these problems early or they will only snowball into $1000s of dollars of lost rent and/or damages.Good luck and rent on!

Can the quit claim deed and quiet title by the lawyer during foreclosure squash any claims.  

The Underwriter would squash this deal.

Sometimes the appeal of cash flowing properties like these are quickly squashed because of rehab expenses involved. 

Good from an investment perspective, but at the same time another example of the tx state govt squashing any attempt by cities (Austin in particular) to exert any local control/regulation.

Sometimes these banks will not want to hear you will refinance right away as they make money servicing the loan and not much originating it if they keep the paper.The pre-pay penalty might squash your timing plans. 5 year term is typical but I do not like those 15 year amort. schedules as it kills cash flow on a property.