Can we be chased by the bank after arranging a Dacion en Pago?
Hi There We recently completed a Dacion En Pago in Campoamor Spain in March. Since then we have been having letters saying we are overdrawn etc etc. We have had a e mail from the bank confirming we are at peace with them but since requested more clarification as we have had more letters since. See the response below recieved today:
Quote:
As you can understand these letters are not coming from the Branch in Campoamor, they're automatically generated in Madrid. You left the power of attorney and the keys of the property, but it does not mean that the property is sold and the mortgage is already cancelled. I understand you're concerned for the letter you receive but it takes time to get out from this situation. We're not calling or sending you lawyers to require payments, because we accepted to try to sell it before it went repossessed, you know how is the economic situation all around Europe, it's not easy to find buyers, you have to be patient. And always bear in mind that the decision to buy the property and sign the mortgage has been taken by yourself, you have to be ready to accept the consequences.
I thought a dacion en pago meant that we are now free of the mortage now but the content above sugguests different??? Obviously we are very concerned and request advice on the situation and a way forward please. Your assistance in this matter is greatly appreciated.