El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Frozen mortgages
Wednesday, September 17, 2008 @ 8:53 AM

Caixa Manlleu is first financial institution which has announced its intention to freeze mortgages quotas for those who, now and due to the financial crisis, are unable to pay their monthly instalments.

These clients will have to extend the redemption period and will end up paying more interests. That is obvious.

Therefore, both clients and Caixa Manlleu will take a break in these tight times. The financial institution must be very fed up with seeing how delinquent accounts grow and grow...

By Maria L. de Castro

web@costaluzlawyers.es

www.costaluzlawyers.es

0 Like

Permalink

Spam post or Abuse? Please let us know

4 Comments

Rob in Madrid said:
Wednesday, September 17, 2008 @ 8:31 AM

Unfortunatly it's just the beginning, I think things are going to get a whole lot worse.

Maria said:
Wednesday, September 17, 2008 @ 10:53 AM

I think that this crisis times are times for being truthful with ourselves and revise our code of ethical values and consum habits...

For instance and to start with:

Who made developers/banks...grow and grow...?

There is nothing more freeing than through away the dead leaves... adn restart.

We need to gain confidence and keep fighting for human structures and growth.

Maria said:
Wednesday, September 17, 2008 @ 10:56 AM

I think that this crisis times are times for being truthful with ourselves and revise our code of ethical values and consum habits...

For instance and to start with:

Who made developers/banks...grow and grow...?

There is nothing more freeing than through away the dead leaves... adn restart.

We need to gain confidence and keep fighting for human structures and growth.

Max Kite said:
Thursday, September 18, 2008 @ 3:20 PM

You are absolutely right, Maria.
I started a thread SERIOUSLY THOUGH -What are the banks to do? which is still going - please have a look. Your comments would be valued.

How can the banks legally give a breathing period when the mortgage is written into the escritura de compraventa? Is it done unofficially?

Only registered users can comment on this blog post. Please Sign In or Register now.

Blog home page

Maria
Lawyer. Director of the Costaluz Lawyers team. Useful legal tips for an easy way in Spain. www.costaluzlawyers.es

Interesting links