06 Dec 2012 21:39:
Slightly different circumstances but thought I would use the same thread....
We would like to thank Maria, Rocio and all the team at Costa Luz Lawyers who have done a great job in helping us with the Dacion en pago process with our bank.
Having bought our apartment at the height of the boom back in 2004 and eventually completed in 2007 the value of our apartment has dropped to around half of the purchase price leaving us in negative equity of around 80,000 Euros. On top of this our 5 year interest only period was coming to an end so the future looked bleak to say the least as our payments would almost double.
We noticed Marias blog on EOS Spain stating that to hand the keys back to the bank was a "legal right" which gave us some hope. 5 months or so down the line and she is true to her word, giving her full power of attorney we have had no direct contact with the bank and the process is now completed.
Before this we visited the bank in February and tried to contact them via E mail after this to try and maybe get another deal on our mortgage but they just wouldnt come to any agreement and were totally unhelpful giving the only answer of "the payments must be made"
Their unhelpfulness carried on, when we eventually contacted Maria for help she asked me for a copy of our deeds which the bank were holding, I contacted the bank who said this is not possible as there are too many pages and I would have to travel to Spain and get them myself, I forwarded this to Maria who then made contact with my bank for the 1st time, I dont know what she said but a copy of the deeds were E mailed to Maria and myself the very next day, amazing!!
Obviously this is not the outcome we would have prefered and like many people we have lost a lot of money, and thought at this point our investment would have doubled by now not halved, However Maria and Rocio who dealt with our case has made a bad situation a lot easier.
I have heard a lot on EOS about not being able to contact Costa luz and to be fair some E mails did take a while for a reply but I soon realised that if I didnt hear from Rocio or Maria it was really because at that point they didnt have any news for me and when they did have news then they contacted me promptly, obviously they are extremely busy and reply to people as and when they have news for them I think.
I would definitely recommend Costa luz lawyers to anyone looking for legal advice or help in Spain.
Thanks again Maria, Rocio, Cassie and the rest of the team.
This message was last edited by RD on 07/12/2012.
Thread: Maria and her team do it again