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tonynico

Oct 25, 2010, 5:30 PM

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Fidi

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When I first started paying my fidi 10 years ago it was very cheap.
Every year it goes up. I am now paying over 540 u.s.
Ten years ago it was if memory serves me correctly I paid 3500 pesos for two years, that worked out to about $190.U.S. per years for two years of my first fidi bill total $380 for the two years. After the first bill for two years I got billed every year rather then every two. I am up to 540 or more depending on the exchange rate.
That is a lot of money for just having the trust just sit there and them sending me a bill every year
Some inflation! Went up over 3X in ten years so in another ten years if it keeps going this way it will be $1.500 U.S and in 20 yrs if I live that long it would be $4,500 U.S. all for doing nothing.
Do you think when I get down there I can talk with the bank and have some type of consideration given. for the following bills, or can I move my fidi else where?

Tony


(This post was edited by tonynico on Oct 25, 2010, 5:47 PM)



Anonimo

Oct 26, 2010, 2:22 AM

Post #2 of 8 (3991 views)

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Re: [tonynico] Fidi

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What's a "fidi"?

Saludos,
Anonimo


Peter


Oct 26, 2010, 4:26 AM

Post #3 of 8 (3985 views)

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Re: [Anonimo] Fidi

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Fideicomiso. A trust in order to own a home in restricted zones like the coast.


Anonimo

Oct 26, 2010, 4:41 AM

Post #4 of 8 (3982 views)

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Re: [Peter] Fidi

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Yes, thanks. I suspected that's what it was.

Saludos,
Anonimo


Rolly


Oct 26, 2010, 6:23 AM

Post #5 of 8 (3968 views)

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Re: [tonynico] Fidi

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Do you think when I get down there I can talk with the bank and have some type of consideration given. for the following bills,
Very unlikely they will do that.

or can I move my fidi else where?
Yes, you can. Good luck finding a better deal.

Rolly Pirate

E-visit me http://Rollybrook.com
On Facebook as Rolly Brook


tonynico

Oct 26, 2010, 2:54 PM

Post #6 of 8 (3896 views)

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Re: [Rolly] Fidi

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It looks like you were right about modifying the fidi. It was a no go.
I will just sit back when and if the price of the fidi gets to a point where it would cost me the same amount to close it out and have another one opened I will shop for a bank and start over, does that make sense?

It seems that I should have been sharper when it came to my fidi. They based the fee on the value of the land and whatever the gov't inflation rate is for that year.What I did not realize it gets compounded so sooner or later the base fee has all this compounding and it starts to add up fast.
I guess when the fidi costs $1500 u.s. I will look to close it and open another.
It was my own fault not understanding the contract. I guess there are others that did the same and I guess there are others that have a fixed rate they are charged.
I guess I will sit tight for the time being.

Thanks
Tony




Marlene


Oct 26, 2010, 3:06 PM

Post #7 of 8 (3887 views)

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Re: [Peter] Fidi

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I guess I wasn't the only one who has never heard it referred to as a "Fidi" and the Fideicomiso subject comes up often in my neck of the woods.


tonynico

Oct 26, 2010, 3:07 PM

Post #8 of 8 (3882 views)

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Re: [Marlene] Fidi

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I guess it is neighborhood slang. LOL
 
 
 
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