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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche.

Legal tip 1183. Who said FEARS? Law protects mortgage debtors
25 July 2014 @ 16:08


1. Saw a house I liked

2. Bank sent HIS valuator who valuated the house

3 .Bank granted me a mortgage for buying it, knowing my economic situation

4.I paid till I was made redundant

5. As I could not keep the mortgage payments up, I asked the Bank to keep the house

6.They sent their own valuator who now valued the house at the half of original valuation

7.In short words: I have no house and I still owe the Bank 180.000€ which is what valuator overvalued and the Bank accepted: I mean: They especulate and I am guilty.


Fight the Dation ( offer of the house to the Bank) at Courts. According to LEY 1/2013, DE 14 DE MAYO, DE MEDIDAS PARA REFORZAR LA PROTECCIÓN A LOS DEUDORES HIPOTECARIOS, REESTRUCTURACIÓN 
DE DEUDA Y ALQUILER SOCIAL, Bank will repossess the property for a value corresponding to AT LEAST 50% of auction value of the property.

AUCTION VALUE OF THE PROPERTY: It is a BIG summ included in every mortgage deed and which includes: prinicipal, interests and legal costs. 

Deffending a right valuation and supervising of the repossession and auction process is ESSENTIAL.

There is new Decission by the European Court of Justice by which, if you are acting agsinst the Bank for floor clause, they can not repossess the property

ACTION.... is the word!

Have a great weekend!




Photo: En 2013 38.961 familias perdieron su casa a causa de los desahucios. Cada día siguen perdiendo su vivienda 100 familias en España:

Port of Tarifa, Cadiz, Costa de la Luz, South western Spain, at

Like 0


antifreeze said:
27 July 2014 @ 10:34

Banks make valuations to protect themselves, not the consumer - they know you will either pay or they will chase you when you cannot and still have the asset - they will only lend the amount to cover their loan------and don't give a damn about the consumer! This is the how banks worked in USA and it is sad, they do not compromise, listen to people's circumstances to avoid so many people who are now homeless in USA - how does that help an economy or government? The Governments need to intervene to guide for the betterment of - social and financial solutions.

I wish everyone good luck in getting some justice from such moneylenders - thank you for the tip Maria.

mariadecastro said:
28 July 2014 @ 09:12

Very unfair and dramatic situation indeed!

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