Bank Repossessions in Spain: A Legal Perspective
I am currently three months in arrears with caja madrid and whilst talking to them over the last few weeks to try and get me on an interest only mortgage i have recived a respossion order that was started sometime ago, 8 th April. I have called the local branch again today that i was trying to sort out the mortage and i would like to resolve this before it goes to reposseion as i am moving to spain for good. She advsied me that once the reposseion order has started there is nothing she can do. I have range again and she was very aggressive telling me she had no time to talk to me and would relay the message that i can pay all arrears today to end this matter and we can discuss putting me on interest only later. I am very concerend that i will lose the property as it is not in negative equity. What action should i now take.
Bank Repossessions in Spain: A Legal Perspective
HI danny boy i am in the same position as yourself.
hopefully a little advice here for me. we have a mortgage with Deutsch bank costa blanca our branch manager was very helpful setting up the mortgage. I went to the bank month after month to pay the mortgage none of the staff could find the details of which i gave them. I gave them all our details all the staff could find was three bank accounts (we did not open these the manager did by mistake and told us she would close then this did not happen)
Eventually the bank manager who set the mortgage up located the account and took the payment.
We had very little information on the mortgage account from the bank. Due to difficulties and lack of paperwork (we only had copy of the escitura) we were a little worried as to why no one could find the mortgage etc. we were asked by staff if we were sure that we had a mortgage with them (our branch then closed)
i visited another branch re repayment help through our insurance payment protection plan as my husband was made redundant. we were notified by the same bank manager that the insurance was due to be repaid as it was paid quarterly (i thought we paid in full) she wanted another 290(ish) euros for three mths but then told me this was for death only and for my husband only who was 31 and in great health again alarm bells ringing why was this so much, so as our situation was a little messy with my husband being made redundant and not having spare money we could not pay this nor could we pay the mortgage, i requested a break for a couple of months until we found further employment, the manager did not want to know she said no (very direct.)
then i asked if we could reduce the payments again no.
I walked away very distressed and not knowing what to do. I contacted the bank numerous times unable to pay the mortgage and no one could help as they could not locate the details I was even asked if i had a mortgage with them again. we departed to the k in search for work last year, before we departed we visited the branch and spoke again explaining we were going to return to the uk and asked about the bank taking the keys the manager again very directly said no we do not take houses back. I asked what would happen next she simply said nothing and shrugged her shoulders. I explained i would be in touch. When settled in the uk we contacted the branch to find the manager was no longer there and again no one not even the new director of the bank could find our mortgage details. The new director took our details and was quite concerned that we had no documents or had not heard anything regarding the non payments. She took our email address and phone number and explained she would be in touch the following day. the call never came so i contacted her again, she was going to contact me the following week. We have heard nothing until a couple of days ago when i had a call from a lady in the bank who asked if we wanted to sell the property. i said yes but then realised that the value of the property will not meet the mortgage etc nor do i have proof of the mortgage or legality of the sale. I am now in possession of a document in spanish for me and my husband to sign and send to the bank. If we let the bank sell the house what happens to the outstanding loan, I am looking to have a solicitor look at the document and give us advice of where to go next.
Bank Repossessions in Spain: A Legal Perspective
Hi there,
Hope you can help us...We are struggling to pay our mortgage,although we are up to date. The house has equity in it and we want to follow the dacion en pago route. The bank have said the have stopped doing dacion de pago 6 months ago and refused. they will not come to value the house and are not interested at all. Instead they told us that we would be black listed if we stopped paying our mortgage. Can the notary make them follow the procedure,and the provision set by the spanish cival code?. Surely if we give back our house and all the taxes are paid,they can cancel the debt and we can all move on!. What do we do if they refuse?....we fit all the criteria but they aren't budging.......PLEASE HELP