Bank Repossessions in Spain: A Legal Perspective
We have a property in Costa Blanca. I have been made redundant so we are struggling to meet the mortgage. It is on the market but as in the UK houses are not selling at the moment. What would happen if we said to our bank we would like to hand the keys back to you as we cannot afford it? What is the best way forward regarding our situation please?
Bank Repossessions in Spain: A Legal Perspective
What is dacion en pago.is it repossession?
Bank Repossessions in Spain: A Legal Perspective
My brother has a property in Spain that he has not paid the mortgage on in 4 months due to him losing his job and seperating from his wife of 10 years, he understands that he will lose his property if he does not come to a resolution with the bank, but there is also a cross charge on my parents house in spain which has no mortgage on it, can my parents lose their house?
Bank Repossessions in Spain: A Legal Perspective
I have a similar situation with a property in Holland. I fell behind on the mortgage and went into default.I then agreed to give the bank power of attorney to sell the property which they then did. I thought this would be better than allowing them to repossess. The property sold for a lot less than my mortgage so of course I still owe tens of thousands of Euros on it. How would the dutch bank go about recovering money from me. They have an old UK address for me and have no idea where in the world I am. Since the bank cant get hold of me (other than email) is it a good idea to approach them and make an offer. Say offer to pay 20% of the balance in full and final settlement ? How could I make this full and final settlement legal and enforcable so they couldnt come back to me later.
Thanks
Bank Repossessions in Spain: A Legal Perspective
My bank manager emailed me in October 2008 and confimed that the bank would take the property back with no further action.Since then he has left and no one else can speak english I have phoned left messages and sent emails to confirm that the bank have agreed to take pocession of the property I dont know what to do as I have emails to confirm the bank have agreed to take the property back any advise what todo next????
Bank Repossessions in Spain: A Legal Perspective
I am in arrears by 2 nearly 3 months, but we have paid small amounts as suggested by the bank.
The bank have said that we cannot renegotiate the mortgage and to return it would also be very expensive.
If the property is valued or sold with negative equity do we then pay interest on that difference and is it common to negotiate the sum owed?
Thanks