"So, I guess you think people's savings are safe?"
If you don't care about the possibility of getting your money back years later—with zero interest, mind you— then yeah, they're perfectly safe.
I suppose we should have learned by now: The Federal Reserve first puts out these incredibly soothing statements about how stable everything is, and then they go and drive Credit Suisse and the Central Bank straight into bankruptcy.
They’re looking pretty shaky right now—it's obvious they're just waiting for the other shoe to drop: -layoffs -the Fed's moves -lawsuits -divestitures -their involvement in all those shady dealings across America...
Robin Bailey7 said:JPMorgan Chase just dropped their interest rates on Swiss franc mortgage loans by half a percent... which means starting November 1st, my rate should sit at around 5.45%... I have to say, I’m pretty thrilled about that outcome.🙂...they're even offering to convert everything over to USD without charging any fees.
Still, you should ask them what kind of hidden fees they're actually burying in the fine print.🙂
Well, I’ve been stuck with them for five years now—unfortunately—and my takeaway so far? They aren't exactly focused on actually serving the public. Read that a few times until you realize what that actually means for the customers)
You can't just shut down the blacklist, folks—believe me, I'm the one maintaining their entire IT infrastructure 🙂
The blacklist tracks every single client who, for whatever reason, failed to stay current on their loan payments before the FBI stepped in two years ago. And since the FBI has been around for two years now? Banks are still very interested in seeing exactly what kind of financial gymnastics you were pulling over the last five years 😁. They track all of this through those blacklists, which are still being aggressively shared between banks today 🙂
Chris Stewart3 said:What is actually happening with these interest rates—is this even sustainable? And if things reach a breaking point where someone simply can't keep up with the payments, how long does it take before the bank finally forecloses on the property? I don't personally know anyone currently grappling with this specific issue; I am merely following the developments through the news reports.
I read somewhere—maybe it was on here—that they'll hit you with enough fees to make the actual mortgage payment look cheap by comparison.
I was reading about how this whole thing actually works. Basically, people end up paying more in interest than they would at a standard bank like Chase, but that’s not where the money is being made. Take this one woman's situation, for example: First, you have to join some kind of credit union or cooperative—you pay a monthly membership fee of $83. You keep paying that until the loan is totally cleared out. Then there's the account maintenance fee, which was $75 per month until the debt is gone. See, those two fees? That's their actual profit, not the interest.
If someone doesn't have their paycheck hitting a JPMorgan Chase account, could they still snag that Visa card? Has anyone actually pulled this off? Cheers
Maybe—if they were clawing back the principal too—it wasn't even a "margin call" I’m not worried about the banks, though. I'm sure they made the calls 🙂
But what Leah is talking about is just credit counseling; it’s not actual environmentalists. Those green activists usually work at big banks anyway—just spinning the bank's money instead of their own.
Someone already touched on this... The interest rate itself isn't even the killer part. It’s the fine print—the way they structure the contract so that legal interest or some other penalty kicks in from the very day the loan is funded, rather than when you actually miss a payment. The whole setup is basically handing your cash over to some guy every month, only for him to ghost your calls for two or three months straight. Then, because you missed a payment—even if it wasn't your fault at all—they hit you with interest calculated from the initial disbursement date. Let that happen two or three times during the life of the loan, and you'll see exactly where your money went.
To snag a Denny's card, you’ve gotta be a member for six months, stay on top of your payments, and all that... And from what I've gathered, they charge fees for just about everything—even pulling a racket by calling a 1.5% monthly fee "interest-free revolving credit"... I guess "interest-bearing" means the store takes their 1.5% cut, and then Denny's jumps in to take another 1.5% on top 🙂