Hello G. Morris,

Before answering your questions, it is important that you understand the Dacion en Pago is only processed if the bank allows for it after checking your financial and personal situation and that they do not have any legal obligation to accept it. In the meantime, that is, while you are negotiating it, we do not recommend you to stop paying the mortgage and other fees related to the property if possible, as in case they deny the Dacion and for instance start the repossession process, your debt will have increased.

I recommend you to contact a solicitor that can negotiate with your bank in your behalf, as if Dacion en Pago was not finally accepted, at least new mortgage conditions or a Novacion could be possible.

If you wish to discuss your particular case, you can contact me by email after clicking on my profile.

Regards,