Hello Philippop,

The fact that the bank is claiming an amount of money doesn´t mean the property has actually been repossessed and auctioned; you should find out what has happened with it. Probably, it has been taken to auction but the funds obtained were insufficient to cover the debt and they are claiming the remainder. This is possible according to the Spanish regulations: the sale at an auction as a result of a bank repossession does not serve as total cancellation of a debt and the bank can claim the remainder is paid by the debtors.

Should this be case, and in the event you actually have assets in Spain or abroad, we recommend you to negotiate with the bank and agree to pay the remaining debt as if you fail to do it, they can seize other assets in your name to recover the debt.

Regards,