Read Details Top Searched Make Extra Mortgage Payments, Home Loan Preapproval Mortgages Real Estate Loan and St. Petersburg Mortgage Bankers, Mortgage holders protest in St Petersburg.
(28 Jan 2016) RESTRICTION SUMMARY: AP CLIENTS ONLY
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St. Petersburg – 28 January 2016
1. Various of people protesting in front of the bank, chanting (Russian): “SMB bank cheated us”
2. Woman chanting (Russian): “SMB is taking away our only homes”
3. Mortgage holders entering the bank
4. Various of protesters inside bank demanding the bank management come and talk to them, saying they’ll soon have no place to live
5. Protesters writing requests to the bank management
6. Various of mortgage holders protesting in front of the bank, holding signs and banners
7. Policeman speaking to a woman
Russians who took out mortgages denominated in a foreign currency on Thursday protested at their banks demanding that the loans be restructured.
They chose foreign currency mortgages years ago to take advantage of lower interest rates abroad, but when Russia’s currency collapsed, the cost of repaying those mortgages skyrocketed.
Groups of mortgage holders held protests on Thursday at several banks in Moscow and St. Petersburg.
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