never saw this before

[lamboguy]

if you have a mortgage in Europe tied to the libor rate, the bank has to send you a check every month for you having a loan with them because of negative interest rates.

lets say you wanted to sell your home and decide to put the money in the bank for safe keeping, you would have to pay the bank for holding on to your money.

[boxcar]

Originally Posted by lamboguy

if you have a mortgage in Europe tied to the libor rate, the bank has to send you a check every month for you having a loan with them because of negative interest rates.

lets say you wanted to sell your home and decide to put the money in the bank for safe keeping, you would have to pay the bank for holding on to your money.

An entrepreneur should seize that golden opportunity and go into the safe business.

[TJDave]

The European banks will fix this. Just as here they have the politicians in their pockets.

A couple years back I think it was Chase that wanted to charge cash accounts.

[_______]

They don't send a check. They just reduce the principal owed.

Dollar denominated LIBOR remains solidly positive. If you live in Spain and are lucky enough to have a mortgage tied to the Euro demoniated LIBOR, you are indeed getting a principal reduction in addition to whatever principal you are paying.

Banks obviously aren't issuing any current mortgages based on small markups of LIBOR but if you got one a few years ago, enjoy the sunset.

You live on a continent with a potentially unsustainable banking system.

[boxcar]

Originally Posted by _______

You live on a continent with a potentially unsustainable banking system.

And it's coming to this side of the Big Pond soon.

[shots]

Originally Posted by _______

They don't send a check. They just reduce the principal owed.

Dollar denominated LIBOR remains solidly positive. If you live in Spain and are lucky enough to have a mortgage tied to the Euro demoniated LIBOR, you are indeed getting a principal reduction in addition to whatever principal you are paying.

Banks obviously aren't issuing any current mortgages based on small markups of LIBOR but if you got one a few years ago, enjoy the sunset.

You live on a continent with a potentially unsustainable banking system.

Wouldn't you have to pay taxes on that return ?