Legal tip 154. All the houses that Bank artificially financed
Tuesday, September 29, 2009 @ 7:03 AM
A forum member posted today because a friend of him cannot longer pay the mortgage.
First reaction: don´t get her life or her economy go sinking because of this because there was probably much financial artifice in the market when she took the decission: please encourage her to naturally return to a natural position.
She might try first to see if a mortgage change would enable her to keep paying :
Some related articles: legal tip 130 , legal tip 131 and legal tip 132
If the mortgage change does not relief her from the financial pressure.... no more anxiety.... go ahead and exercise rights out of the most of the Codes, our Civl Code, ancient Rome and Napoleonic tradition altogether! :"dation in payment" or a payment agreement ( with handing of keys) with the Bank so she liberates fully from the debt:
http://www.eyeonspain.com/blogs/costaluz/1094/legal-tip-27-dation-in-payment-a-right.aspx
If the Bank refuses to accept the dation, do not worry because after a proper offer to the Bank being done , the Bank will just be able to start a repossession to which you can then oppose with your already acted dation in payment rights so you both, Bank and client, can end up with an agreement for the payment of the debt ( of course including the full value of the handed property).
I am not calling to the irresponsability of individual people but Consumer and individual rights are always a brake to market hyper-acceleration... and we all end up being benefitted with a system is person tailored.
After an accepted dation in payment or an agreement for the satisfaction of the debt, she will not be recorded as a bad debtor in Spain. So... do not worry.
Has not been overcredit the reason of many problems? So... banks... here you have the houses you artificially created and financed.
Yes.. I know I am totally "bank-ly rude".
Maria
www.costaluzlawyers.es