Homeowner whose mortgage is paid up to date to be repossessed by bank
Saturday, March 30, 2013 @ 3:23 PM
A WOMAN who is fully up to date with her mortgage payments has received a repossession order from her lender.
According to the national pressure group PAH – Plataforma de Afectados de la Hipoteca ('Mortgage Victims' Association'), the homeowner – who is separated from her husband and has two children – bought the apartment in Mallorca 10 years ago and has a mortgage of 40,000 euros left on it.
She originally owed 70,000 euros and, upon losing her job and her husband failing to pay maintenance for their children, went to Barclays Bank to renegotiate her payments, which comprised two loans.
Barclays agreed to a 100-euro discount and the homeowner agreed to increase her monthly payments once she started work again.
Read more at thinkSPAIN.com