House repossesion!
| The Comments |
Hi everyone,
Since the mortgage hike last month I can no longer afford my house, I want to give it back to the bank and rent, does anyone know how it works in spain?
Thanks in advance.
Harley
0
Like
|
Give it back to the bank ? Once you fail paying the loan instalments the bank will try to negotiate a solution out of courts or will activate an out of courts sale ( if that was agreed in the mortgage deed).. Finally, it will initiate an executive judicial procedure to repossess the house, sell it in public auction and pay your debt.
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
0
Like
|
Number of posts in this thread:
2
DISCLAIMER: All opinions posted on these message boards are the opinion solely
of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants
or agents.
1 |