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Russian borrowers money woes include their home mortgages
Posted on 12/13/14 at 11:48 am
Posted on 12/13/14 at 11:48 am
quote:
MOSCOW, Dec 12 (Reuters) - About 100 Russians who have seen their mortgage payments rocket due to the plunge in the value of the rouble took to the streets of central Moscow on Friday to demand state help.
It was one of the first significant protests over the currency, which has fallen more than 40 percent against the U.S. dollar this year, pushing up the cost not only of imported goods but also of the low-interest foreign-currency mortgages that the protesters had taken out.
"We want to pay loans based on the exchange rate at the time we signed the papers. The authorities, our government, must see to that."
"Since I took my mortgage, my salary has remained at 70,000 roubles but my monthly payment now is 85,000 a month," said Irina, a woman in her 30s who works in an advertising firm.
"I want justice. They should not only help the banks but people like me ... I've already borrowed from all my friends. They're not taking my calls any more."
Posted on 12/13/14 at 11:54 am to LSURussian
Are they paying their mortgages in dollars or rubles? The bank should be the one taking the hit, not the borrower.
Posted on 12/13/14 at 1:09 pm to LSURussian
They shouldn't worry, they can pay for it out of all the money they put into bitcoins. Amirite?
Posted on 12/14/14 at 11:03 pm to LSURussian
Sleep with dogs, wake up with fleas?
The Putin regime might be authoritarian but that doesn't extend to exchange rates.
The Putin regime might be authoritarian but that doesn't extend to exchange rates.
This post was edited on 12/14/14 at 11:04 pm
Posted on 12/15/14 at 4:27 pm to LSURussian
Russia Raises Key Rate to 17%
An unprecedented 700 basis point increase in a single day
Russian stock market down 28% on the MONTH.
- 11% TODAY.
Ruble at 64 to the USD.
Russian purchasing power going down the tubes.
An unprecedented 700 basis point increase in a single day
Russian stock market down 28% on the MONTH.
- 11% TODAY.
Ruble at 64 to the USD.
Russian purchasing power going down the tubes.
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