Please can anyone help with my problem?
I own a house in spain and lost my job last year and could not afford the mortgage payments anymore.aI went to the bank to see if they could help but they said no
and if we never kept up the payments the house would be repossessed and the bank will come after us in the uk for any money still owed.
I stopped making payment towards the mortgage in oct 09 put the house up for sale really cheap to repay the outstanding mortgae and cut my losses but
no viewings at all! I have now recieved a email from the bank saying they want to offer this "dacion en pago" to help us clear our debt and mortgage.
I have never heard of this before and why offer it now? The email says it will cost us no money to sign it over to them all we need is to go out there and sign
and that will be the end of it.Please can someone help as im not sure if this true and i don't know anyone who has been through this.
I will look forward to any comments or anyone who has done this, thanks!