Posts by Andrew Fisher5

Look, I’m just another victim here—a slave to the banks, the Swiss Franc, the Federal Reserve, and this absolutely blind policy-making! Honestly, even justice seems to be flying blind lately.
WE NEED TO GET MOVING BEFORE THE WHOLE SHIP SINKS (and takes us all down with it)!

antidote said:Greetings to my fellow misguided citizens🎉

This is actually my first time posting on this forum, so I figured I’d jump in and share my story.
Basically, about three years ago, I listened to my wife and decided to
take out a mortgage to buy some property, thinking maybe we could finally settle the housing question once and for all. To make a long story short—after digging through the market and checking out what various Banks were offering—the decision
landed on Wells Fargo. But get this: because I wasn't exactly a
long-term client, they wouldn't approve a loan in Euros. Instead, they gave me their "only option," which was tied to the Swiss Franc 👍.
So, I take out a 120,000 Euro loan pegged to the Swiss Franc. Of course, they payout the amount in Dollars, but they use the absolute worst exchange rate possible, so by the time you're done, those Dollars only cover about 115,000 Euros worth of value.
Fast forward three years of making payments on time, and my monthly installment from $1600 hits my account on the 18th, but man, I'm telling you, $2433 it's a nightmare. My principal balance is sitting somewhere around 170,000 Euros, and it just keeps growing and growing every single month.
Here is how I see the whole mess:
The Swiss Franc could theoretically climb forever because it's painfully obvious that both the Euro and the USD are in deep trouble due to stagnant growth and massive government deficits.
As for real estate? It’s almost impossible to sell anything right now unless you're willing to sell it for peanuts—pennies that won't even cover half of what you owe on the loan.
The only way to save this market would be to scrap these currency clauses entirely and switch to an interest rate tied to whatever currency we are actually paying in within this broken country.
Anything else is just a scam. The banks have already lined their pockets enough; the government needs to realize they live off our hard work, not off the banks. If consumer spending keeps dropping, we're heading straight for a total recession.
Clearly, we need to hit some kind of critical mass to actually force some movement here in America.
Bottom line: I think there are plenty of us out there who are completely backed into a corner with zero way out.
But hey, you can't cheat the system, right?🙂