Solution to Phase 2 Mortgages

yep I did look at that just seemed confusing with the dates saying 2008 thats all, need a spanish translator really

so we are all doomed then!!!

There has been a great deal of discussion both on and off this “Forum” about the Mortgages on Phase2 at El Trampolin; also a great deal of “miss-information” insofar as to who is speaking to CAM Bank and when. As I have stated before Andy Wild DID NOT have an appointment to visit the Bank but I in fact have at the end of this week and I will keep the “Forum” advised of my findings. As I see it … BUT I AM NOT A LAWYER … we all hold contracts to purchase properties on Phase 2 which PRE-DATE the Mortgage Contract and in the majority of cases all the properties were completed … or largely so at the time of application. Indeed in most cases the properties were already occupied. The valuations carried out by CAM Bank all contain photographs of each property in question and so this would have been readily apparent to those carrying out the valuation. Furthermore since it is common practice in Spain for purchasers to pay significant deposits … or indeed payments in full … for “off-plan” developments I feel that the Bank owed a “Duty of Care” to both the client and indeed their own Shareholders to check on the status of each plot. Clearly they did not carry out “Due Diligence” in entering into their contract with Trampolin Solera. I believe this could make their contract null and void. My particular case is further complicated by the existence of a second “fraudulent” contract given to Mr and Mrs Philips and they should perhaps take notice of the fact that my Contract pre-dates by some years theirs and that of CAM Bank. Having said that I accept that they were and are totally innocent victims of a fraud perpetrated by the Developers.

Dear Neighbours,

From this moment, to resolve any issues of electricity and water services, please contact the president of the neighborhood for The Urbanisation Solera El Trampolin: 

Doña Carolina Martí Nicolás 

Phone number 690 68 13 44.

Many thanks

Having myself returned from Spain only 48 hours ago and having seen Andy’s post about the “phase 2” mortgages I felt that I should, as promised, give my own interpretation of the Bank’s position. Before doing so I thing anyone reading this should bear in mind two things; firstly in reading Andy’s posts you are “reading” EXACTLY what Grupo Trampolin WANT you to believe. Secondly we have my perspective which is TOTALLY the reverse and views coming from someone who has been defrauded by the company. As such you are reading two opposing views. Having accepted that BOTH viewpoints are biased I think we have to look at the facts:-

1.     The earlier post regarding embargos placed upon the bank accounts held by CAM Bank IS CORRECT. However these relate to the Trampolin Hills Development and not Solera. In some ways I view this as a more serious sign since this is the one development that Grupo Trampolin wish to save.

2.     Given the above fact it must be obvious that the relationship between Grupo Trampolin and their Bankers is at an all time low. The “famed Phase 2 mortgages” are heavily in default and for sure CAM Bank will want to off load this as quickly as possible. However my understanding is that the amounts involved are now very much greater than the amounts originally loaned.

3.     Grupo Trampolin CLAIM to have no money (I say CLAIM because I am aware that a very large embargo was recently placed upon the company and the money was immediately found from “outside” of company funds to resolve this). It is a fact that the Mortgages outstanding are in all … or nearly all … cases far larger than any monies due to be received from clients. I am aware … having been contacted by several owners in the same situation … of mortgages outstanding in excess of €100K with payment due on completion of some €20K. This will bring about a huge shortfall in the amounts to be paid by Grupo Trampolin to CAM.

4.     Mortgages represent but one small part of the “charges” registered against properties. Embargos placed by Creditors represent a far bigger problem than the Mortgage itself and as such are “second charges”.

Given all of the above as facts due you think CAM Bank will advance any more money to Grupo Trampolin to either finish off Solera or Trampolin Hills. Their extremely “shaky” status is know throughout the Region and the industry. Do you really think it is likely that ANY Bank will advance the sort of sums of money required to fund the company on an ongoing basis given (a) the current state of the World economy and (b) the state of the construction of such developments in the region.

Sadly my honest belief is that the “Gang of 3” have neither the intention or the ability to resolve the outstanding issues at Valle de Sol and that they THINK they can hide behind the fact that Grupo Trampolin is NOT Solera hanging poor old Rafael “out to dry”! They have shown scant regard for embargos placed upon their properties … in fact they have so many now that it means nothing to them any more.

I believe I have one advantage over the majority of the Forum’s readers in so far as I KNOW that both Rafael and Antonio can and DO LIE. Some of you have been advised that they hold documentation signed by either my wife and / or I giving them permission to act fraudulently in the sale of Plot 82 to Mr and Mrs Philips. They MOST CERTAINLY DO NOT and given the fact that in Spain such an action is a “Criminal Offence” a “Querella” has been issued against the company and Rafael in particular. I am well aware that Rafael is “upset” by my “posts” and that he has attempted to suggest he will obtain a “Denuncia” against me. Rafael you CANNOT obtain such a legal caution for simply telling the truth!

In short, whilst I am NOT saying that Andy is giving you either incorrect or inaccurate information I am saying it is heavily coloured by his own relationships with Grupo Trampolin and as at least one of you knows is not beyond the issuing of threats of intimidation. That said Andy does live amongst you and he will want the development concluded / completed as much as anyone. Of course it is quite possible that he too is getting a highly sanitised version of the truth. M y action will continue until I get either (a) the title to Plot 82 or my money back but I do not intend to make further posts on the Forum. I have told you ALL the truth; it is now a matter for you all to decide who is or is not correct. I wish you all well and continued happiness on the development and have to say that if ANY of my words have upset or offended any of you then I am sorry. However, bear in mind these thieves owe me either my property or +-€200K. Any of you can feel free to contact me via the Message Board … including you Andy BUT I SUGGEST you desist from the threats you have attempted to make. They simply won’t wash anymore.