Just looking through the list of debtors that was sent out with the AGM notice.
One of the properties near me seems to have changed hands. The debtor name now reads
"CISA CARTERA DE INMUEBLES SLU" - Google translate returns "PROPERTY PORTFOLIO CISA SLU"
Anyone know what this means? Just curious.
More inportantly I see that some debts have grown. We now have owners with debtors as high as 11,000+ and 9,000+.
My concern is that the mortgage might exceed the value of these properties and that the debtor might also owe the bank too.
If they were the case then the community will never recover on these debts as the bank has first call over these properties.
If the bank takes possession and resells does the community debt still pass with the property even if the bank sells for less than the value of the mortgage?