BBVA Rip off

Last year I was having difficulty in making the payments on my mortgage to BBVA.  I approached the bank and told them that this problem was because I had previously bought a property on Camposol and that because of the issued relating to MASA the builders changing the original plan parcel I was unable to get my escrituras for the property.  I intended to sell the Camposol property and clear the mortgage on the other  property .  BBVA offered me no solution whatsoever.  No repayment holiday, no interest only for a period nothing.

I found a potential buyer that was prepared to pay 159000€ for the property and BBVA processed the mortgage application.  After THREE months they turned this down.  I had no choice other than to ask for a Dacon de Pago that was accepted by BBVA for the mortgage balance of 95000€.  I thought that this was the end of the problem.  I lost a house valued by BBVA at 176000€ in 2004 with a mortgage of 136000€.  I spent over 50000€ renovating the property with a new kitchen, bathroom and swimming pool and paid the 1000€ per month mortgage for 6 years.

I had a problem with BBVA at first failing to pay the 20€ final electricity bill from Iberdrola for the period after the house was signed over to BBVA and later had to pay 170€ to Hacienda plus a fine of 30€ for late payment for not paying over the retention that BBVA held over when I purchased the property from a non resident.  Is this the way Spanish repay expat for backing them?

i am very interested in this and want to know more.

personally i had to cancel my bbva accounts because they misled me on something.

just to get this straight.

you got a mortgage for 136`000 and paid off 1000 a month x 12 x 6 = 72k give or take/?

when you handed the house the bank through the Dacion de Pago you owed 95000 euros mortgage on it after also having spent 50k renovarting it?

have i read that right?

Yup thats correct.  Also during the time I was having payment problems each month I was contacted by the manager who told me by email that I needed to pay an amount to cover the mortgage and the credit card.  Later I received a phone call from BBVA card devision telling me that the card had not been paid for several months.  When I approached the manager he shruged his shoulders and said the card was not paid, the mortgage was more important, bastard!!!

thats so bad.

i got a loan out and i had insurance in case i got made redundent.

the english bank manager in an english speaking staffed bank gave me the loan and the insurance but that got closed and they moved my branch.

when i got made redundent nobody in the banks spoke english and when i took someone that spoke spanish with me because mine was still bad they were just evasive and wouldnt actually say anything or do anything.

it was just passing me off and getting me to come back the next day or next week or go to another branch.

we were going back daily but nobody seemed to give an answer.

but i have a question for you?

May i ask why you were selling it for 157k when you ended up walking away and getitng nothing?

why not sell it for 98`000 or 110`00? or even 95?

 Unfortunately it is not just BBVA, i know Bancaja and Cajamar are doing the same!

Its a real shame as they do not want to help anyone, you are especially in trouble if your house is in positive equity as they will sell it and make a profit at a later date which will help cover the loss of the properties in negative equity.

Joan

You can add Cambank to the list. They are not interested in helping clients.

The actual true thing is:

IF YOU HAVE MONEY THEY WILL HELP, IF YOU NEED MONEY THEY WILL TAKE EVERYTHING!

Joan

To sell for 95000 the additional estate agent fees of say 3%- 3363 + legal fees say 1000 takes the amount to 4363€,  we had an offer of 159000€, why should we take less, during the process we had an other offer of 118,00€  but as the bank told me it was being processed for the 159000 we did not accept the offer.

ok i see that

much appreciated that you replied and i get it now.

it was just a personl interest thing because i am looking to buy a distressed house and i amlooking to buy one for the 99363 rather than the 159000 so your reply helped me very much.