Banker asked me if I had collateral.

Most of the people who would walk from a property for business reasons were not on the note personally and it would only affect the the property and anything collateralized.

I have a private money deal that's collateralized by a 21,000-acre piece of land in Mexico that's free and clear.

Not only is the lender in a different country from where the collateral is located, but they have to go through a foreign legal system to take the property.

He said that approval for this would not only require the appraisal but he would have to verify that the HOA had escrow to cover insurance for collateral (??

Just think of it as borrowing for a business and the properties are the collateral.

Take out a VISA/MC as well as a shared secured loan.Get to know them and them give them an opportunity to fall in love with you.THEN you can start borrowing money on collateralized product.YMMV, Tevis

The loans can either be collateralized with equity in your home country property (ies) or they will loan on the US property based on your relationship with them and mortgage the home here in the US.  

make sure that you have ZERO Assumptions and the right attorney on your team.Be prepared to go worse case scenario of foreclosing on the lien.Make sure that you like the collateral, that you know & understand your documentation?

Notes are not real estate it's finance, only related as to the collateral and notes are not a way to acquire the dirt unless a borrower deeds the property to you for the payment of the loan.