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Old 18.01.2017, 08:57
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Reverse Mortgages in CH?

Does anyone know if reverse mortgages exist in Switzerland?
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Old 18.01.2017, 09:01
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Re: Reverse Mortgages in CH?

No.

Tom
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Old 18.01.2017, 09:09
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Re: Reverse Mortgages in CH?

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No.

Tom
Perhaps that's a blessing in disguise.

What do retired people do who have a paid off mortgage and they need cash? Can they refinance for cash-out?
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Old 18.01.2017, 09:13
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Re: Reverse Mortgages in CH?

Sell the house, move to a cheaper place/country
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Old 18.01.2017, 09:14
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Re: Reverse Mortgages in CH?

Most people here do not pay off their mortgages.

Tom
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Old 28.03.2018, 18:34
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Re: Reverse Mortgages in CH?

Reverse mortgages do exist, but they are fairly new. There are 4 banks listed here, all in German-speaking Switzerland:

https://www.moneyland.ch/en/reverse-...es-switzerland
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Old 28.03.2018, 18:45
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Re: Reverse Mortgages in CH?

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Reverse mortgages do exist, but they are fairly new. There are 4 banks listed here, all in German-speaking Switzerland:

https://www.moneyland.ch/en/reverse-...es-switzerland
Great article and I'm glad the Swiss are getting a bit more progressive. This, however, is NOT a reverse mortgage. The way the article explains it, it's a loan against the property with the cash amount paid to the mortgage holders at the time the loan gets created.

A reverse mortgage, the way they are set up in the US, is quite different. A home gets evaluated and a new loan amount agreed upon (based on the home value), but not paid out. Instead it works like a credit line against which home owners can write checks to pay for their bills.

If they don't write any checks against the money available, they don't make any payments and don't pay any interest.

If they write checks against their reversed mortgage, they pay interest only against the amount of the funds they drew against their mortgage.

Quite different from what the article describes.
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Old 28.03.2018, 19:00
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Re: Reverse Mortgages in CH?

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Most people here do not pay off their mortgages.

Tom
I certainly don't plan to. I'm not a fan of being shafted!
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Old 28.03.2018, 20:23
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Re: Reverse Mortgages in CH?

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Does anyone know if reverse mortgages exist in Switzerland?
Start by understanding that the BS of property owning does not fly here - investing in a high risk asset with a poor rate of return is a dump idea!

Know that when the Swiss do buy a property they have no intention of paying it off. The equation is rent verses interest payments.

Now ask yourself how you would sell such people a reverse mortgage in the first place.

As for progressive, that would recognizing the reality of property investing in the first place.
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