Why Banks do not react?

Legal tip 407. Why Banks do not react...? 
04 December 2010 @ 09:58 

Door and pot of flowers in Alpujarras by Thiery49 at Flickr.com 

A bank that listens to it's customers..........and pigs might fly.

Nice idea, Maria!

Buen fin de semana

I would also be very wary of any "enforced" solution of this nature, offloading building stock on developments that were half finished, substandard build, over valued, without legal habitation licences in place, where developers or Banks had the upper hand of community management etc. All the abusive aspects that have now come to light within the real estate industry.

I think happy faces would only come from reimbursement of monies, allowing choice thereafter of any reasonable offers  that the Banks made available, where choice is the key word. I would be most concerned if this led to a situation where Banks would give preference to those willing to "do a deal" at the expense of those who wanted return of their monies.

Ads: I mean a deal with those claiming deposits against them.....

Roberto: that is the problem of our economies: Banks who do not listen to their clients

Maria, sorry if this sounded confusing but that is exactly who I was referring to in my previous post.

Unfortunately there are far too many vulnerabilities that still exist within the real estate, legal and banking sectors to address before many of those who have been affected by developers and Banks and are awaiting return of their monies, would feel comfortable reinvesting in Spain. Consumer protection has to be at the forefront of any agenda if this problem of over supply is ever to be resolved.

Many of us could sadly write a long list of reasons why, as things stand right now, we would not wish to reinvest in Spain using the existing housing stock held by the Banks, and the sooner that the government recognise these problems and demonstrate by swiftly returning monies to those who have legitimate case wins against developers, or Banks recognise their responsibilities according to the law, then we will never feel safe in Spain. Our confidence in Spain has been shattered to be honest and continues so long as we read of more and more cases of consumer abuse. We can no longer just turn a blind eye to instances of mal administration, corruption and manipulative practices that significantly affect lives , and continue supporting the status quo.

Sadly much has to change, and to suggest that letting the Banks and developers off the hook in this way before addressing the need for legal reform, fair justice, and greater consumer protection, is wrong. That will resolve nothing in the longer term and is just another way of skirting around some uncomfortable truths.

maria

I can see what you are saying here as a possible option, but despite the positive aspects of Spain that led most to buy in the first place, many people cheated are now so appalled by the Spanish legal and justice system that I don't  think at the moment they would want a place in Spain even at a very low price and even with a cheap or long term credit agreement?  What people want is what is rightfully their's, and that's their money back and no ties to Spain.  Perhaps when changes are made, then many more people will once again see Spain as somewhere they want to invest in, but until then, the only fair solution is return of monies, and if the banks wont do that, then it's up to the Spanish government, and if they continue to ignore calls for justice then the  EU should sort it out?.  I haven't got much faith in them either though, it's just a very 'wrong' situation and of that there's no doubt!