Search found 5 matches

by richard2
28 Feb 2012 15:04
Forum: Introduce Yourself
Topic: Going Under Laughing!!
Replies: 3
Views: 8120

Re: Going Under Laughing!!

Hello everyone. New to the site, wished I had seen it years ago. Big thanks to Nigel, for what must be countless hours, over the years putting it together and adopting a lot of problem children. I bet you were all hoping that I would be different and had some secrets to divulge of buying a property...
by richard2
08 Jan 2012 15:25
Forum: General Property Questions
Topic: Laiki Bank
Replies: 3
Views: 4214

Re: Laiki Bank

I am starting to struggle with my CHF mortgage (in common with a lot of people) and have done much reading on the subject. I have sent out a raft of e mail to sols etc to try and work out a way forward on this. I long term let my apartment out quite a while ago but the rent covers only about a thir...
by richard2
08 Jan 2012 14:41
Forum: Mark Nowell's Financial Questions
Topic: Swiss Franc Mortgage
Replies: 73
Views: 72885

Re: Swiss Franc Mortgage

Hi Richard, I don't believe there are any differences here between the ways different banks handle defaulters - but some, I guess, will be more amenable to negotiation than others. I published an article a couple of years ago on how to go about dealing with this problem - see http://www.news.cyprus...
by richard2
08 Jan 2012 13:37
Forum: Mark Nowell's Financial Questions
Topic: Swiss Franc Mortgage
Replies: 73
Views: 72885

Re: Swiss Franc Mortgage

Hi Maurice There's an article about the Alpha Bank at Bank starts action against developers and buyers . I know of one other case and I suspect there may be more. Regards, Hi Nigel do you know if there are differences between how the banks tackle a default? My experience from Spain is that they can...
by richard2
08 Jan 2012 13:29
Forum: Mark Nowell's Financial Questions
Topic: Swiss Franc Mortgage
Replies: 73
Views: 72885

Re: Swiss Franc Mortgage

Further to my last post (4th October) where I set out 4 possible options, we have now decided to take the only option (No. 4 ) and stop all payments to the bank. To continue to repay a mortgage which is now three times the value of the property with no hope of any improvement is financial suicide. ...