Possible reposession in Latvia

Kemo,

What you are saying is that an investor shouldn't look for good deals if he is in trouble himself with one of his investments? Effectivley that's what you are saying.

Many of our properties in Ireland, Latvia etc have gone down in price in the crisis doesn't make us irresponsible. And doesn't mean we must stop buying and selling property. That's the overall picture unless you are determined to be in some deluded high horse and subject people to ridicule.
 

I'm not trying to subject you to ridicule, I'm simply pointing out the gross dichotomy between your two posts. If you can't see it, that's your problem I suppose.

Of course you can and should look for good deals - equally if you are solvent enough to enter into such new deals, then you are solvent enough to pay off the debts from your old ones. Do you agree?

Where's the ridicule?
 
you're trying to welch on the deal you made in latvia while at the same time trying to buy from a distressed seller in spain, ergo you obviously have the money to keep paying the latvian mortgage but just don't feel like paying it anymore and are seeking advice on how to get away with it,
in what way is this moral?
 


That is exactly what I meant by doing a deal. I would take this matter just as seriously as if it was an Irish or UK bank and act in the very same way.
 
Oso, is it fair to say that you have now fundamentally revised your opinion of the Latvian market?


petard

hoist

end
 
Murrisk, i agree talking to banks is one way to manage this sort of situation. As long as it's not seen as immoral.

Kemo,with regards to my view of Latvia, I still believe growth in carefully chosen East European locations will be fruitful in the long-term. The current crisis is impacting people everywhere but when there is recovery Eastern Europe can be considered as high potential.

I guess you saw the whole crisis coming and kept it to yourself right?
 
Oso said:
I guess you saw the whole crisis coming and kept it to yourself right?
Click to expand...

I saw the Irish crisis coming - I will confess I didn't see the worldwide blowup coming

I didn't invest in EE property as I make a point in not investing in markets that I don't understand. Given your lack of knowledge around debt enforcement in Latvia, I guess you were not quite so discriminating....
 
Great thread.
Proud to be irish after reading that!
Fair play Oso - can't keep a good smeculator down...
 
Oso said:
Although 80K is a lot they are likely to sell the property in an auction for say half it's original value. So I would owe 45K. Question is will they ignore this. I have equity in my home to cover this sort of amount
Click to expand...

I applaud your efforts to outright rob the Latvian/Swedish banking industry of €45,000 euro in spite of your stated ability to repay it.

My heart bleeds for you.
 
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