grace period for mortgage defaulters

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25 Jun 2008 12:00 AM by pff001 Star rating. 126 posts Send private message

I read an article in the round town news which stated that banks re now obliged to offer grace periods to defaulters that have equity in other property. I am 2 months behind on my mortgage and the bank are starting proceedings to repossess my house. I have 9 properties in the UK which i have been tring to sell but the house market is dead at the moment, and have also bought a futher 12 properties off plan here in Spain that i paid deposits of 820,000 Euros. That was 3 years ago and building is still yet to commence which has left me with a very serious cashflow problem. Is there anyone out there that could help me

Simon 

Pinar de Campoverde



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09 Aug 2008 9:15 PM by carolfrayne Star rating. 37 posts Send private message

Are you kidding us!  No wonder the rest of the world is going broke!





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