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El blog de Maria

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

Legal tip 814. Hand keys back to Bank I
21 August 2012 @ 14:09

For the buyer: who has been paying a mortgage as long as has been able to and enjoying the house at the same time. If the repayments are making ordinary life impossible, that was not the scenario they took into account  when they bought it. Life is first. If house is killing life.... it is clear house needs to be out. It was an artificial product, bought under artificial circunstances, with artificial funds. Let´s go back to nature and life.

For the developer:  who is selling same properties at much cheaper price, possibly at just the price of that remaining mortgage that the buyer cannot keep paying. Many of the properties arr also  being repossessed by Banks and being sold at lower prices too. They lose nothing with dations.

Banks: Well... they have had all the benefits along these years and now are the first recipients of european aid. These european aids are not intended for their speculative benefits to increase but to alleviate the situation of many of the victims ( PERSONS) of the uncontrolled especulation allowed and promoted by them in the past. Not just spanish banks speculated, many european ones did too with the final product ( off-plan properties) being in Spain. We all made this together. It is not a problem created in Spain.

So.... if you cannot keep paying your mortgage, go to dation and re-start a new, natural life.

Let´s all go back to natural life

"Benamahoma", Grazalema, Cadiz, South of Spain, by Luis López-Cortijo



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