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Old 04-13-2015, 06:44 PM
 
319 posts, read 179,075 times
Reputation: 414

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Maybe a variable rate mortgage isn't a bad choice after all, at least in countries where interest rates have gone negative!

In Odd European Twist, Banks Owe Borrowers - WSJ

Im going to frame my bank statement, which shows that Bankinter is paying me interest on my mortgage, said a customer who lives in Madrid. Thats financial history.
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Old 04-14-2015, 02:43 PM
 
Location: New York
2,251 posts, read 4,163,764 times
Reputation: 1607
Quote:
Originally Posted by Ken_N View Post
...“The plaintiff had taken out a mortgage in 2005 that offered a fixed rate of 2% in the first year and Euribor minus 1.1 percentage points thereafter. The plaintiff said he was now owed money from the bank. To buttress his argument that a bank shouldn’t have to pay a borrower for a loan, the judge quoted from a June 2014 statement from the Bank of Spain that “a payment in favor of the client in these situations would never apply,"...
A payment in favor of the client in these situations would never apply.
  • Tried this with my credit card charging a high interest rate.
  • Sending extra so there is a positive balance.
  • Challenged them why they don't pay me interest...lo!!!
As much as "Big Banks" make over the lifetime of a loan is sick.
  • 3 to sometimes 4 times to amount of the original amount borrowed.
  • Now they are crying....lol
  • Loans (mortgages) tried to the livelihood of a person's home.
  • There should be a limit on how much profit lenders can make...

..
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Old 04-14-2015, 04:32 PM
 
319 posts, read 179,075 times
Reputation: 414
I wonder if the flip side of a negative interest rate is that you have to pay them to hold your deposits (which is basically a loan to them).

So maybe they still make a profit on the spread anyway.
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Old 04-14-2015, 07:28 PM
 
2,409 posts, read 2,491,694 times
Reputation: 1807
Quote:
Originally Posted by Ken_N View Post
I wonder if the flip side of a negative interest rate is that you have to pay them to hold your deposits (which is basically a loan to them).

So maybe they still make a profit on the spread anyway.
Probably. Negative interest implies that the same amount of money will be worth more in the future than it is now, so keeping money generates money just like investing would.
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Old 11-22-2015, 07:17 PM
 
Location: Upstate NY
30,453 posts, read 9,103,558 times
Reputation: 29005
Lol, what a crock of baloney!

With negative interest rates (quietly just begun in a Swiss bank, BTW), the bank pays you squat. Well, okay--maybe a toaster or other inducement to open an account. Instead, they take your money in exchange for depositing with them.

Of course, this only works in a cashless society, which makes runs on banks impossible. Pair this with Greece's tax on ATM withdrawals (yes, a government tax, not a fee that goes to the bank for providing the service), and you can see that there's a war on your money.

Hold onto your wallets, folks, if you hear a push towards "cashless" here. The bank will pick your pocket for its own use. And the government will pick your pocket to pay for the influx of illegals, "refugees," and our own non-producers.

Wake up, sheeple.
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